Provided is an insulation product, optionally in a tubular form, that includes a coated foam insulation layer, where the foam insulation layer has a closed-cell structure. The coating can comprise a thermoplastic elastomer that seamlessly covers and is bonded to an outer surface of the elastomeric foam layer in the absence of an adhesive bonding material to protect the foam insulation layer, e.g., during outdoor insulation applications. A pipe where the insulation product is installed is also provided, as is a method of installing the insulation product, and a method of producing the insulation product.