Should I insulate my small cold storage room in the basement?

Thanks Cynthia! The room is damp in the spring/summer (not conducive to keeping things cool, and really cold in the winter. Not sure if we should insulate it to try and maintain a steady temperature and then decide to use it as a cold storage or just general storage. The wooden door is cold and there is a draft coming from the bottom, even though I installed a door sweep and there is a draft emanating from the door frame.....appreciate any input.

Oh boy,yes a hollow door in Canada for that room is probably not even code,is it? I feel for you. Well its a start,in the meantime can you place plastic over the door to keep cold air out,but not on frame because that may not help,but on the wall. You would still be able to get out of the room if you needed to escape by pulling the plastic off so you aren't sealed in but it may help. Or do you have a heavy thick quilt that you can hang over the door and brace the bottom with a few towels to keep air out as much as possible. Once again you aren't trapped in the room. A steel door also allows safety since a hollow door can be so easily broken by a person,so regardless ,it may just be safer to replace the door anyway. Good luck this winter,we just got the first real taste of the artic air. I wish I was in the southern hemisphere.

It's an interior door Emily, the basement is fully insulated except for the cold storage room which is right below our front steps. There are two 4" vents that allow the outside air into the room, it's extremely cold (not freezing) in the winter (we live in Ontario Canada) and the air seeps into the basement through the bottom of the hollow wooden door and around the door frame. I have installed a door sweep that helps but was thinking of insulating the whole cold storage room with foam insulation to keep the cold air contained, which would help in reducing our heating costs....