Sometimes it is better to stop the whole water supply immediately. If water is pouring from a burst pipe, coming through a ceiling, running near electrical fittings, or spreading faster than you can contain it, go straight to the main stop tap. Local isolation is useful, but it is not worth losing time when the source is unclear.
You should also use the main stop tap if the isolation valve does not fully close. Older valves can become stiff, worn, or blocked with scale. In some cases, turning the small screw appears to close the valve, but water continues passing through. That means the valve may need replacing.