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I think it relies in part on the airflow created by the wheel/tire turning. Damage to the cooling fins won't be more than cosmetically unattractive. Damage to the lines would of course be an issue, but they are pretty well protected by the fins.
Just go to your local DIY shop and find some louvred mesh - chrome or black - and cut a bit to fit. Stick it between the trim piece and the cooler. It's a <$10 fix and only takes a few minutes.