Used house purchase in September – If a shut off doesn’t hold and water freezes beyond the shutoff in the pipe, regardless of if the outside water tap is open or closed, can I insulate it from the outside and the inside part up to the shutoff valve with (insulating substance can I wrap the faucet and pipes?) that will stop the water from freezing and putting pressure on a lousy one turn shutoff valve and making water drip through the shut off valve into a container. The outside water tap shutoff is on the same cold water line for the sink. There is no other shutoff for the cold water line. What would happen if I just left the shutoff open and closed the outside water tap off. Would it still drip? Not sure how this was used in the past for winter.