Putting equipment under cover is generally a good idea. Keeps the sun and elements off, thus the pump should run cooler and last longer because water and moisture are kept away. Just allow enough space around the pump for proper ventilation. Although pumps are designed for outdoor placement the cooling fan still sucks in water droplets and moisture and that eventually corrodes parts. Have had a Hayward Superpump in a poolhouse for 11 years and it's still as clean as day-1 and I can take it apart easily if necessary. Never did a thing to it.
Al