For what it's worth, I've spent the last 20 years touring all sorts of countries (all of Western Europe, all of the Balkans, Morocco, Turkey, Ukraine, Romania, etc.) with my Honda ST 1100, and never once locked it up. Never used a cover either. Never had a problem of any kind related to security.
I stay in hotels or pensions (no camping), and there is always somewhere reasonably secure to park the bike, even if that is at the front entrance, within sight of the desk clerk.
Having said that, I do acknowledge that a brand new BMW GS 1250 loaded up with Touratech stuff like a German dentist who just won the lottery might attract more attention than a PanEuropean.
So far as parking in a city during the day and exploring - just look for paid parking, rather than free parking, and park it near the attendant's booth.
Michael
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