You Break It, You Buy It?

Lostrod_2
What if you lose it? Someone else's rod and reel that is. I've broken several of my friends pieces of gear - on car doors, fish, trees, etc... You name it, I've done it. Every time this has happened I've offered to pay for what I've done. Most of the time it's not that painful, especially if the rod has a lifetime warranty. What if it doesn't though? Shouldn't you still offer?

On the flip side I've also had quite a few rods and reels broken or lost.

Just over the weekend we we're floating the Roaring Fork river near Basalt and upon trying to take out all hell broke lose. My friend's friend was holding the two rods in the stern (we'll call him stern guy to protect his name), my buddy was rowing, and I was making the five foot jump to shore with the bow line trying to stop the boat in what proved to be a very dangerous take out. Long story short. I jumped, the boat missed and high-sided just below the takeout and Stern guy went into the drink coming back up for air sans one rod. This situation always sucks, but that rod happened to be my favorite - a six weight Sage SLT that isn't made any more and (shsssssh) Deeter's brand new Orvis reel. He doesn't know yet.

What gives? Who pays for what? Do I buy Deeter a new reel? Should Stern guy buy the whole shebang? What about the fact that my rod isn't made anymore? I know what I think the proper etiquette should be. I'm curious though as my girlfriend, family, and friend on the oars all have differing opinions. What would you do?