Some people seem to have the notion that insulation alone will do the job. It won't.
The function of insulation is to slow the transfer of heat, (or the inexorable creep of icy cold).
But there has to be at least some heat involved. That's where the heat tape comes in. The ideal is to have heat tape on your water pipes, (or even fuel lines), and perhaps then to have insulation over that. It needs to be balanced and applied properly, so that no "hot spots" appear where the tape is not in contact with the pipe, but may be isolated by the insulation.
Burning your house down is not a good way to prevent the pipes from freezing.
If you want to make the investment, you could make a circulating loop of your exposed water lines, so that heat at some point gets into the liquid, and no spot remains stationary and subject to eventual freezing.
Even better is getting all exposed lines dug into geothermal heat banking, which prevents freezing from occurring by putting all liquid transfer conduits under the frost line.
Thank you for that info!