For some, myself included, there is no question of carrying a dinghy to cross the channel. My aircraft is single seat with neither the space nor the payload to carry one yet I have been over and back. Nor was it an option on the more frequent occasions when I have flown longer overwater legs to the Western Isles and the Northern Isles although I do like to cross with sufficient altitude to offer at least a chance of gliding to shore. You either accept the risk or you don't but it's your choice.
One final thought though. Many years ago I read that most engine failures occur when you change some setting, so make all your cruise adjustments and checks before coasting out then touch nothing until you coast in.