Rule 2 - Responsibility
(a) Nothing in these Rules shall exonerate any vessel, or the owner, master, or crew thereof, from the consequences of any neglect to comply with these Rules or of the neglect of any precaution which may be required by the ordinary practice of seamen, or by the special circumstances of the case.
(b) In construing and complying with these Rules due regard shall be had to all dangers of navigation and collision and to any special circumstances, including the limitations of the vessels involved, which may make a departure from these Rules necessary to avoid immediate danger.
You as captain of your vessel have a two fold responsibility here, One you are responsible to comply with all rules as applicable, Two it is also your responsibility to avoid collision no matter what the circumstance. Latitude may be granted where a departure from the rules is taken to avoid immediate danger. For the most part when there is a collision between two vessels both are deemed at fault, typically USCG assigns percentage of fault to each vessel.
Also notice I underlined special circumstances twice. As the rules are written in the publication there are three situations specifically spelled out for one vessel encountering another:
As noted the rules spell what actions should be taken between two vessels in these situations, add a third vessel to the mix as we all see everyday on the water and that becomes a special circumstance. The rules can not possibly cover all situations you may come across while piloting your vessel, Use your best judgment, if in doubt communicate early (radio, whistle etc) and as my mom has always told me, make wise choices.