Mega yachts use neoprene fender covers, but it took a while to find them for smaller boats. Innovative had them for my Taylor Made Big B fenders. They look fantastic. My previous "woven" covers frayed and looked shabby.
What an ingenious idea. Not only does it protect your boat from getting dings and scratches from the anchor, but it keeps everything nice and neat and easy to store and retrieve. Well worth the money.