The most common and most likely answer to this crossword clue is the 8 letter word OVERSHOE
I've seen this crossword clue in Financial Times
O
V
E
R
S
H
O
E
Buddy explains!

The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does OVERSHOE mean?
OVERSHOE noun- A shoe worn over an ordinary shoe, either to protect from water or mud, or to prevent damage to a floor.