Last night I noticed that the wires from one of my servos were exposed. They werent burnt or anything, it looked like the covering was torn away. The damage is primarily done to the black wire, and just a small knick on the red wire. Can I separate the black and red wires (carefully of course) and put a small amount of electrical tape around each one? I've done it with cords to drills and such before, but wasnt sure if I could get away with it on a servo.

You can if there are no broken strands in the wires, however the best way woul be to cut and splice the wires and cover with heat shrink tubing.

Sure, as long as the conductor isn't damaged, you'll be fine.

However, if there is hidden damage the conductor, it will cause a higher than normal resistance, which will show up as your battery getting drained faster than it should, and the servo seeing lower voltage than it should, making it turn slower and produce less torque than it should. For "standard" servos in a sport plane, neither of these would likely be noticeable, and honestly, I've done exactly what you're talking about more than once myself. If you were using high torque servos in a high load envrionment, that would be different.

I also agree and have repaired servos this way.

However if it is a standard servo these can be had for 10.00 or less with the exception of SPADS most planes can't be replaced as cheaply.

One thing you could also do is only use this servo on non-critical controls (i.e. throtle, flaps retracts etc)

Ditto, tape it up as you described, and if you have any doubt as to its integrity, use it as a throttle servo.

Or fix it the right way and not have to worry (per bearmech's instructions)

Micor Mark has a liquid insulating material in a can. You can separate the wires near the worn place and cover both sides with the insulating stuff. Check the servo thoroughly before using it again.

i agree with bearmech cut out damaged section and splice back together (if you solder it make sure you test the servo b4 flying incase you get a "cold solder")

Here is a simple fix. Except I wouldn't use it as a primary surface servo. Put a small dab of red RTV on the exposed wires. Let it skin up for 10-15 minutes, and slide a piece of heatshrink over it. That will at least protect from any short circuits!!

Well, I wrappe it up with some electrical tape. I separated the black and red wires, and wrapped some tape around the black. Then I wrapped some tape around the red (along with the white too). And then I taped it back together as one unit. It's now my throttle servo.

Thanks for the help!

Sounds good. I would make sure that the tape area does not flex. It will not hurt anything if it does but you don't want the glue on the tape to become, ineffective.

there is a product called liguid tape avaiblae that I find very effective that I use. It remains flexible over a wide temp range.