That's a good question vstar23. I'm new to this as well, and wondering the same thing. I live in a climate (east coast of Canada) that gets very cold winter time. I have two choices this winter: 1. store the bike in my shed (unheated) or 2. park my bike in the middle of my living room. I am seriously considering option 2 but probably will go with option 1 just to avoid an argument with my better half. The winters are cold enough here already.
So vstar23, I can't offer you any sound advice (from personal experience), but this is what I am going to do based upon some advice from others I've heard along the way.
1. Store bike in shed (like I said, it's unheated)
2. Cover with a breathable cover to reduce condensation buildup.
3. Change oil before storage (best to do before storage, gets rid of comtaminents that you don't want left in engine all winter) Some people have suggested to change oil again in spring - I'm not sure why - use cheap oil for winter storage and use syn in the spring.
4. Top up gas tank (reduces condensation in tank) and add fuel stabilzer and run for 10 minutes. Turn off fuel petcock.
5. Remove battery and trickle charge in house.
6. Do not start during winter, since it will cause condensation within bike when it cools in cold environment.
7. Ocassionally I will roll bike a foot or so (and leave in new position) to lesson chance of tire bumps. Lifting bike off wheels would be best.
8. Spray/wipe certain parts of bike (particularily wheels spokes since they are zinc coated) with rust check to reduce chance of rust and surface pitting. There will be a little bit of mess in the spring to clean up but hopefully no rust or pitting.
9. Check occasionally for moisture/rust buildup on bike. Panic if there is and reconsider option 2.
I don't think insulating from the cold is as important as ensuring there is no moisture forming on bike. I think air flow is important. Can you build a rigid frame around bike under the deck and cover with a heavy trap and cover bike with a breathable cover.
I'm no expert on this - just my two cents worth.