Managemylife.com is always a great resource to find the answers to just about anything. Your expert will research your question and respond within two business days but usually sooner. I have provided an article from the website that may help. The link is provided below.
That article that James posted in the above response has some good information about protecting faucets. The styrofoam covers will work well in most areas. I use them instead of wrapping the outside faucets. If you do use them, make sure that they are installed properly.