I have had the same problem with my loop loc cover. Local pool store carries a white paint suitable for use on a pool. I sand until clean and apply 2 thin coats, allowing for drying time in between.
By the way, once I started opening and closing my own pool, I figured out that the pool company was leaving way too much slack in the cover straps. Once I fully tightened each strap, no more flapping, no more abrasions. No more cursing the pool guy.
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