Though anchors are not required by federal law, many states have anchor requirements. It is advisable to carry an anchor for both recreational and emergency use.
ANCHORS SHOULD HAVE:
Line, chain (called "rode") and anchor (all items together are called "ground tackle"). The chain helps you to set and retrieve the anchor. The amount of rode (line + chain) to have out depends on the water depth in which you plan to set anchor. As a general rule of thumb, your rode should be 7 to 10 times the depth of the water in which you will anchor. You will need more rode in bad weather or rough water. Anchors can be of assistance in emergency situations - especially in case of engine failure in rough waters or currents. As such, make sure the anchor is always accessible and the rode is free of entanglements.