There are many insulation material options. "The thicker the insulation, the more freeze-proof your pipes will be," Mccan says. Fiberglass insulation is the gold standard, but "it's not practical for every homeowner, because it's more expensive than other types of insulation, and you have to bend and cut it, so installing it would require a professional," he says. Looking for a cheaper, install-it-yourself option? Everbilt's foam pipe insulation acts as a protective cover against cold during the winter and heat during the summer (when condensation can build) for copper and PVC pipes, and it only costs about $1.50 to $3 per six feet from Home Depot. Other types of pipe insulation can cost as little as $0.50 per foot, the IBHS says, so check your local hardware store.