It is common practice here in Michigan, and I expect all northern climates. If you ever do get to the point of wrapping, use or rent a good self igniting propane
shrink wrap torch, a small heat gun will take you forever...literally.
I use Dr. Shrink, 7 mil, and it holds up well.
If you do plan on spending any amount of time under the cover do yourself the favor of using white shrink wrap, the blue makes things very dark underneath, and most importantly the blue color will screw up your vision for a little while once you come out from beneath the wrap.