Lets face it, most spas covers have an average life expectancy of about 4-5 Years. You are not far from that point. The good news is you stated the cover is not water logged yet. You have Hurricane Straps, which are a nice heavy duty strap and will hold down the cover, probably better than the original factory straps. I would say ride it out for awhile and squeak out another year with this cover, maybe longer if it stays light and does not get water logged. When you do decide to purchase a new cover, shop around for a quality product, they are not all the same. There are some real cheap low quality covers floating around out there. We see many of them falling apart in less than a year. In most cases a better quality cover, will cost about 50-100 Dollars more. Hope this helps. Goodluck.