Winterizing exterior faucets (spigots) are essential in areas that are exposed to freezing temperatures. The first step in the process is to remove any hoses attached to the spigots and to let all of the water drain from the home or structure. Some faucets have another shut off inside the structure to allow you to turn off the water before it passes through the wall. This adds another level of protection.
The photo above the article shows a cover being placed over the spigot. This cover has a loop that attaches over the vacuum breaker or top of the faucet that will allow it to be pulled tightly to the home. The key here is to have the foam gasket touching the exterior of the structure so that no drafts can get inside the cover. When we have freezing temperatures, and winds, the draft causes the pipes to freeze much faster and are the main reason for a busted hose bib inside your wall.
Keep your investment safe this winter and be sure to winterize all of your exterior faucets.