AL Roamer paint bubbling along rub rails
I have a 46' 1968 aluminum hull Roamer with Imron paint. The upper rub rail is wood and the lower is aluminum faired into the hull. They both have ss screws which fasten the wood rail and the ss rub rail to the hull. It appears to me the source of the bubbling is external water getting in behind the paint via the screw holes.
I would assume this is a common issue, and would like to know if someone has had successfully eliminated the problem. I thought of possible solutions, but have not acted upon them until I know it will work.
1. Refinish the bubbled areas and fill in the screw holes permanently eliminating any point the water can get under the paint. I would then have to find some kind of chemical fastener (epoxy, 3M PSA tape) to hold the rub rails to the hull, which is questionable.
2. Refinish the bubbled areas and apply caulk or silicone into the screw holes and apply some sort of gasket or caulk bed under the rub rail before screwing it to the hull.
Any input is appreciated!