WATCH THEM LIKE A HAWK!
Bruce: If your keel bolts are truly rusting, you are likely to have a MAJOR problem there. You really don't want to loose the keel while sailing! I remember seeing a film of the ocean racing yacht DRUM (Bon Jove's boat) just before the Whitbread race in 85 loose the rudder. Within 30 seconds, the boat was upside down! If the rust is just on the surface, then Steve's advice to clean, use an anti-corrosive spray and keep the bilge area as dry as possible should work. If the rust is further along, it is likely you'll have to drop the keel and have the bolts replaced. Not a cheap process (a friend did it a number of years ago and even then it cost him over $2,000) but one which may be absolutely necessary. Sorry to be the bearer of bad news like this, but better now than later... Have your local yard check the bolts for you. It will be money well spent, if for nothing else than peace of mind. The good news is that your insurance may pay for the repair. Call your provider and see... Good luck. I'd love to see some photos here of your bolts. Tim Leighton