Yes, I actually use an "imaging" program to image my Kindle 1-2 times a week. It's the same imaging program I use on my computer drives. A really small, compact program from Germany that I have used for years: Drive Snapshot. It has saved my computers and data numerous times!!!
http://www.drivesnapshot.de/en/index.htm
It takes less than 1 minute. You can then double click on the image and the contents mounts and opens in a Windows File Explorer window. You just copy your document folder content to the new Kindle.
You can also reinstall the image to the Kindle, but that doesn't really restore your Kindle like it does a computer. There are a number of complicated reasons why it doesn't, but it does get all of the files back on the Kindle; however, the Kindle will not be the same, unlike a computer.