Nick,
The little plastic/rubber piece is not structural, but you want to 
replace it to keep water from getting into the rod, especially if it is 
the butt section.
If they have a hard time at Orvis fixing it, I would use RTV caulk.  It 
is flexible, handles temperature variations and stays soft.
As for storing rods, I like the rod carrying case that has a reel 
pouch.  If you reel the hook into the tip top, you can take the rod 
apart, fold it up and put it into the case.  They you can take it out 
and put it together quickly.
Always case your rod.  Otherwise they will break. the tip will get 
caught or slammed in the trunk or someone will put something heavy on 
top of it.
Carl
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