It only takes a few minutes to winterize an outdoor faucet. Most of the time, the water line that feeds the outdoor faucet includes a valve to turn the water on and off. Look for the shut-off valve in the basement or crawlspace, a few feet away from the wall. Make sure that the valve only controls water to the outdoor faucet, and then shut it off. If a hose is connected to the faucet, disconnect it. Insulated outdoor faucet covers are crucial for active conventional faucets, and offer an added layer of protection against extreme cold for both winterized conventional faucets and freeze-proof faucets. Install a cover that seals tightly to the wall around the faucet.