Actually it's measured from the bolt face to the muzzle with the action closed and the chamber empty. The barrel length must be just over 18" (most guys cut them to 18 1/2" to be safe) and the over-all length of the gun must be, I believe, 26" (?).The barrel can be no longer than 18 inches (I believe) from the chambered shell to the end of the barrel.
I have a friend who used to guide on horseback in the Rockies. They would carry a shotgun much like yours except they carried them in a scabboard on their backs muzzle down and the magazine loaded but none in the chamber. In the event of an emergency you are not likely to have time to get a shell out of your pocket and load it.
With most pump guns you don't have to load it in the magazine first. Just open the action, drop the shell in the ejection port and close the action.I even practice to see how fast I can get the gun off my back, bullet in magazine, and pump a round in the chamber.
If you're going to rely on a pistol grip shotgun make sure you practice with it. They are brutal to control when firing. Make sure there is no gap between the grip and the web at the base of your thumb. Also make sure your fore-arm is in line with the shotgun. This will allow your arm to take some of the recoil.