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Tools Needed: Wrench. Foam insulation sheet. Insulate faucet cover (optional). Rope. Directions: 1  Make sure the outside faucet is turned off before you begin. 2  Remove all water hoses and drain them. 3  Coil hoses and store them in your garage. 4  Shut off the water valve that feeds water to the outside faucets.nsulate faucet cover (optional). Rope. Directions: 1  Make sure the outside faucet is turned off before you begin. 2  Remove all water hoses and drain them. 3  Coil hoses and store them in your garage. 4  Shut off the water valve that feeds water to the outside faucets.
Question: Should I insulate the floor or the walls? Answer: Insulate the floor if the building is up on stilts and adding walls to close in below is impossible. This requires that you protect pipes and drains below the floor level. If you can close in the area under the building, insulating the walls will have the following advantages: 1  More space for living, storage, equipment, etc. 2  Protects the water pipes, drains, ducts, etc. 3  Protects the footings from frost action.