This is kind of trivial compared to the disaster that happened with the pontoon boat but I was once capsized in a tow situation. I was in my very stable, sit-on-top kayak being towed by a flat bottomed fishing boat with a small horsepower motor. Max speed was about 10mph. We did a straight bow to stern hookup. As the tow boat was getting underway and turning somewhat sharply, I was reaching back to get a can of beer out of my cooler so I could enjoy the ride in comfort when suddenly the kayak flipped and I was in the water, still holding my beer. I was quickly rescued and the only damage was to my cell phone which I had in the front pocket of my shirt.
If I am ever in the position where I have to be towed again, I will make sure to relocate to the tow boat and attach to my kayak with a bridle configuration for towing.