If it's easy and you have room, I'd bring the furniture inside. The
less anything is exposed to the weather, the longer it's going to last.
As for covering it with a tarp, IMO, I wouldn't. One problem is tarps
trap moisture, which can be worse than leaving it exposed. The other
is tarps take some work to do right, and unless done right, have a
nasty habit or blowing off, or even worsepartially blowing off,
flapping in the wind, possibly damaging the furniture.
The lights are not worth bothering with, given the trouble involved.