Same here i run all year with no cover on my smittybilt winch with steel cable and do the same as Sixty4x4 spraying fluid film on it. The only issue i had is the winch connector cover kept popping open which over time corroded the terminals to the point that the pins broke off.

 

I had a $50 GC years ago and really nothing needed or wanted to buy. I bought a Bartact cover for my winch and upon getting it I wish I had done it a few years before. Looks like these days they run closer to $70 (was ~$55......and seeing how mine has held up over the years I'd say they are worth that.

 

I had a $50 GC years ago and really nothing needed or wanted to buy. I bought a Bartact cover for my winch and upon getting it I wish I had done it a few years before.......and seeing how mine has held up over the years I'd say they are worth whatever they cost these days.