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Yes, I just slit it lengthwise and wrap the bunks. I use stainless steel screws and fender washers to secure it making sure all the fasteners are placed where they wont come in contact with the hull. The hose is thick so wrapping pretty corners can be a challenge but patience usually pays off.
A pneumatic stapler with heavy gauge stainless staples may also work and make the job a little quicker. I guess it depends on the density of the wood used for the bunks. The cypress bunks I covered with the fire hose was very hard. Staples didn't have a chance through the hose and into the wood. I had to predrill for each screw or else I'd twist the heads off.
Large fire departments have to pay to have their old hose hauled off. By NFPA standards, all fire hose is tested annually. My department discards thousands of feet every year and we're only a moderately sized department.
The stuff can cost over $1,000 per 100' section for the larger diameter hose when new. Some hose that has only a small section that fails testing is cut into shorter 'pony' sections then couplings reinstalled and placed back into service. Just yesterday I was at my department's supply division and there were at least four pallets of stacked hose sitting outside waiting to be discarded.