I prefer that my cars be covered. I don't get people who have garages but they use them as storage and have the car live outside.
If you cannot garage it, covering it is a good idea but I have grown to dislike car covers that are used "frequently." I bought a custom-fitted, high-quality car cover for my first car. What I found was that it was a PITA to use all the time (3+ times a week) and it didn't work very well. First, it was something else to remember to do when I needed to use the car. But more importantly, unless the car was freshly washed, the cover would get dirty and some corners saw friction wear from all the rubbing (likely exacerbated by some dust/dirt). So for me, covers best for protecting your clean car for long periods of time. And my experience is based off of when I was quite young and with a small sedan. Covering up the tall LR4 must be a bigger PITA. But I will admit that the cover was a weather-proof, custom-fitted cover, which was thicker and wrapped tightly around the contours of the car.
For a semi-regularly used car (or more), I'd recommend some kind of carport.
If you must go with a car cover, I suggest a very light and loose-fitting cover.