A removable fastener insulating device comprising a heat resistant cover configured for insulating a fastener. The heat resistant cover may comprise a first portion with a hole formed therein for the fastener to be inserted through and a second portion with a cavity formed therein. The cavity may be lined with an insulating portion made of material resistant to heat transfer. In use, a portion of the fastener may be inserted into the hole of the heat resistant cover and the second portion may be actuated into the closed position. In the closed position, an end portion of the fastener may reside within the cavity between the first portion and the second portion. The heat resistant cover may also comprise attachment elements for holding the second portion in the closed position against the first portion.