FWIW
In my shop nothinbg is covered, but it is well insulated, ()Walls, and Roof, floor is 3/4 ply on 8 x 2 bearers, surrounded on 3 sides by a fence or a wall Small fixed vents at high and low level
When there is persistent frost, a 60 watt tubvular heater, under the bench is switched on.
The mini lathe (secondhand) came with a MDF cover, and lives in the garage.
The bandsaw is now too heavy ( i e I'm too weak ) to lift from from floor level to the 9 inches or so into the shop. SAo it lives outside, under a professioinally made, box like cover made from curtainsider material (Cost £52 some years ago )
In none of the xzases is rust a problem. Helped by an occasional spray of oiul for the mini and the bandsaw.
Howard