Wrap it..... who cares. if it makes you sleep better at night not worried about it,,, wrap it up. Buy some bizqueen at Wal-Mart get some packing tape and wrap that sucker up. If you can't find any plastic, come get some of mine. I'm sure I'll have some left after wrapping mine up.

I was advised that if my lower unit stays up for more than four hours to seek medical attention. If it's real cold it stays down.

I think there's a cream for that now.

I back my boat motor through the front door and wrap it with pillows (memory foam only) and block the door way.

Ya...

I always drain the water at the ramp but still always store the boat with the motor down so any water can drain out. Wrapping it will not do much to help if you have water in lower unit. I see folks storing them with the motor up I have never done that.

Plus mine stays in the garage

I have had 2-lower unit reseals in here this week that had water in the oil and yes if they haven't found the water and it froze, the lower unit would have cracked. Ater the boat has sat after use for a day, pull the bottom plug for a second and if there is any water, it will come out first or the oil will be milky looking. It only takes a minute to prevent some costly damage. Be sure if your boat is stored out in the weather, leave the motor trimmed down so rain won't collect in the prop exhaust area and freeze.