Insulation for sump shed?

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Hey all - I'm planning a shed to house my sump, a 150g rubbermaid trough, plumbed through the back wall of the house.

The temp is mostly much under 80, most of the year, even summer nights at my house.

I still need to insulate, I believe, so I'm not constantly battling cold or heat. I already have some methods planned.

That said, I'd like to minimize temp swings and insulate against bugs too.

Should I use thick blue insulating foam in sheets like they sell at Lowes, etc? I imagine its waterproof, nontoxic, thermally insulating, cheap, etc...
 
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