I recommend you do what Guyfang talked about; but if you aren't running the unit often, and when you do you aren't loading it down you will be prone to wet-stacking the unit. You may want to consider coming up with a load test device in your off-season time (i made one out of sheet metal and dryer elements attached to a breaker panel and added a plug for this sole purpose, and wired the unit up accordingly) and run the unit from 50-100% capacity. Remember, these are old design diesel engines and they need heat to run cleanly. Adequate exhaust temperatures is created by a decent electrical load on the generator head
My hip pocket reminder for exercising my generator is to run it whenever I am cutting my grass. I've got a few acres of grass to cut and trim, so it gives me a few hours of run time every couple of weeks. No fancy calendar reminder or anything of the sort, just fire it up and put a variable load on the unit as I make passes around my house as I mow, and then work on a shutdown procedure as I'm doing final cleanup with my leaf blower. It's not any sort of scientific method or anything but seems to work, and also has some noise and diesel exhaust fume discipline built in as part of my routine to be a considerate neighbor and clustering all of my noise and smell making.
If you do end up needing to bust into the engine, if it's just a cracked ring or piston, it's not that bad of a process to pull the head, pop the pistons out, hone the cylinders, clean up and reassemble with serviceable components. You will only need to pull the generator top cover, and engine block crankcase side panel to get internal engine access. My cylinder walls weren't torn up and cleaned up easily, but your mileage may vary. LPW parts are available all over ebay, and can be cross referenced to the Onan part numbers and back to LPW part numbers. Replacement piston, ring, and wrist pin assemblies are about $75 each on ebay. Don't forget that you'll need a gasket kit. If you did have a seized piston in the cylinder wall, there is a strong probability that you'll need pushrods as well at a cost of around $15 each. All in, if you're adament on tearing into the engine and the walls are OK, you're looking at around $300 in parts + your time to replace.