Paddle floats can be a useful safety tool to stabilize your kayak for when you are out in rough water. You can use them to help you getting back in your boat if you had a wet exit, or as is my case most often, you are alone and you have to unzip your dry suit to pee in a bottle.
The paddle float is also very useful when you are learning how to roll. It will ensure that your paddle stays on the surface of the water while you practice your hip snap. That way you only have to think about one thing at a time. As you start getting better, you can progressively deflate the float, until you get rid of it completely.
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