I've had a NOAH 4 layer cover for outdoor summer storage for years now. The custom fit is nice (mirror pockets, elastic hem= no tie down straps needed). However it is not waterproof. It is "water repellant" and breathable. So if you remove the cover the day after a rain there will be condensation all over the car, and the fabric will be heavier (mildew resistant though). As a matter of fact it rained last night so I tried to take a picture of the moisture on the car, but it doesn't show in the picture. I was a bit disappointed, but there aren't many custom car covers out there that are water
proof. I guess for long term storage it is important that air be able to circulate under/through the cover to allow moisture out (think what happens to paint under a bra) and that is not possible with a snug-fitting waterproof cover.
I've ordered a different cover for my Chrysler300, woven polyester as opposed to the Noah non-woven cover. We'll see if it's any more 'water repellant' than the Kimberly Clark (Noah) cover.