Abstract: An insulating system for fluid conduit pipes and the method of insulating is disclosed. An inner layer of resilient flexible insulating material is wrapped about the outer surface of the conduit pipe. An outer layer of flexible cohesive material which is moisture and vapor impervious is wrapped about the inner layer of insulating material. The cohesive material is wrapped so that portions of adjacent edges overlap to self seal by forming a cohesive seal therebetween. Preferably the wrapping of the outer cohesive material is conducted so as to partially compress the inner resilient insulating layer both circumferentially and radically. The resiliency of the insulating material presses against the cohesive seal and thereby maximizes the cohesive seal and cooperates in holding the insulating system about the conduit pipe. The inner insulating layer and outer cohesive moisture and vapor barrier layer can be easily and concurrently applied by a single operator.