An insulated cover can help prevent frozen pipes and faucets in cold climates, but only to a certain degree. They’re more suitable if you live in a mild climate. If the temperature falls below 28 degrees Fahrenheit, that cover likely won’t be enough. Allowing the faucet to drip is one way to prevent freeze damage to the faucet, but it is by no means a long-term solution unless you like the idea of wasting water and jacking up your utility bill. Most outdoor faucets have a cutoff that allows you to close off and drain the line that leads to the outdoor spigot. Alternatively, install a freeze-proof spigot if you need it for year-round use.