The present invention generally provides an insulating vessel for beverages. The vessel has an outsert and a insert. The insert is positioned within the cavity of the outsert. In one embodiment the insert has a plurality of insulating members that are spaced from an inner surface of the outsert to define a series of air gaps between an outer surface of the insulating members and the inner surface of the outsert. In another embodiment, the insert and outsert have generally conical side walls with substantially the same taper angle so as to be in a friction lock relationship with one another.