An insulated wall outlet plate assembly. The assembly provides the dual functions of both preventing drafts through the outlet and for preventing against unwanted or accidental access to the outlet. The wall outlet plate assembly includes a wall plate for covering an electrical outlet, a flap assembly secured to the plate having moveable flaps which may be secured in place to close the openings in the outlet plate and a layer of insulation material secured to the backside of the outlet plate for providing insulation against drafts through the outlet. The flaps include an underlying ridge which secures the flaps in place relative to the openings of the outlet plate.