oil bearings
I work on semi trucks and all have oil bearings on steeraxle. I also thought about it on boat trailer,you can see oil level in glass and if water entered oil gets cloudy, the only problem we have is a lot of the time the plastic glass gets cloudy from heat, I don't know about these. the trucks have a rubber plug you can pull to see the level or add oil, (if the glass is bad).
the other concern is if the oil seal works to keep water out and not just the oil in.
cliff