A tool protects fishing equipment, such as fishing rods and reels, from damage, whether the equipment is in storage or transit. The tool provides the angler with the security that their equipment will be safe. The tool includes a hollow, tubular storage chamber having one open end for inserting an end of a fishing rod therein. The storage chamber may include a buoyant material at a closed end thereof. A flexible strap extends from the open end of the storage chamber to run along the length of the fishing rod. An adjustable loop at the end of the flexible strap is adapted to loop around the reel end of the rod and can be held in place by the reel. One or more straps can be disposed along the flexible strap to secure the flexible strap to the rod. One or more rods may be carried by the tool.