Dreamer, covering would help but consider the force of a wave dropping on the dink, even covered. It might readily exceed the limits of the attachments, or the davits, and even if it did not it would push the stern down.
If you had realiable forecasts for good wx, I'd say leave it. But if there's any chance of wx deteriorating, stow it on deck. You know, like reefing? If you have to ask "should I" it is already past the time to do it.