If I were on the boat I have now and we lost steerage due to failure of cables on the quadrant;
No. 1 push the button to engage the autopilot (hydraulic direct drive to the rudder post) and try to get moving the hell out of the way, probably under power!;
No. 2 remove the wheel & pull out the emergency tiller [EmT) for stand-by. It's a goofy deal, that's for sure--a short piece of aluminum pipe, angled slightly, with a deep socket at the short end that fits over the head of the rudder post. A couple of years ago I tapped the socket for 3/8" set screws that I could use to tighten the tiller to the post head;
No. 3 hook-up international code flag "Delta" ["Keep clear of me; I am maneuvering with difficulty."] to a halyard running to a cheek block at the masthead, port side, and prepare to hoist;
No. 4 Radio Vessel Assist and advise them that I might need a tow home; give position and situation; advise please stand-by. Probably transmit Pan-Pan if I lose complete control of the yacht, etc., while in the traffic lane.