Insulator
An insulator is a material such as rubber, glass, wood, or air that resists the flow of heat or electric current through it.
Definition
An insulator is a material that blocks heat or electricity from passing through easily, such as rubber, plastic, wood, glass, or wool, and trapped air is one of the best insulators, which is why down jackets, foam, and double-pane windows all work by trapping tiny pockets of still air. Thermal insulators slow conduction because their particles transfer energy poorly, while electrical insulators have electrons tightly bound to atoms so charge cannot flow; a good thermal insulator is usually a good electrical insulator too, though not always. In band theory, an electrical insulator has a filled valence band separated from an empty conduction band by a large energy gap, typically above $3\ \text{eV}$, so thermal energy cannot promote electrons into conducting states, giving resistivities above about $10^{8}\ \Omega\cdot\text{m}$ versus $10^{-8}$ for metals; every insulator breaks down at a sufficiently high field strength, about $3 \times 10^6\ \text{V/m}$ for air, which is what lightning and spark plugs exploit.
Example
The plastic coating on a wire keeps electricity inside, and a foam cup keeps hot chocolate warm and your hand cool. Fiberglass has thermal conductivity around $0.04\ \text{W/(m}\cdot\text{K)}$ against copper's $400$, so copper conducts heat roughly $10{,}000$ times better, and a $0.1\ \text{m}$ fiberglass wall passes about as much heat as a $1{,}000\ \text{m}$ thick copper wall would. A wall $0.15\ \text{m}$ thick with $k = 0.04\ \text{W/(m}\cdot\text{K)}$ and area $20\ \text{m}^2$ separating $21^\circ\text{C}$ inside from $-4^\circ\text{C}$ outside loses $\dot{Q} = 0.04 \times 20 \times 25 / 0.15 \approx 133\ \text{W}$, but removing the insulation and leaving $0.15\ \text{m}$ of brick ($k \approx 0.7$) raises that to about $2{,}330\ \text{W}$.
Key Insight
Insulators do not stop heat, they slow it: a well-insulated house still loses heat all winter, just slowly enough that a furnace can keep up. The best practical insulator is a vacuum, which eliminates conduction and convection entirely, and aerogels approach that by trapping air in pores smaller than the mean free path of air molecules.