Abstract: An insulating cover for an attic or other opening is provided which mounts on top of a stair frame or framed opening or the like without the necessity of attic flooring, characterized by economical construction, economical shipping, ease of assembly, ease of installation above the opening, and a footprint substantially similar to the frame of the folding stair or the empty opening. The present invention further provides an insulating cover that is rugged enough for continued use yet light enough and supported in such as way as to have an ease of opening, staying open and closing as the consumer needs. In a further embodiment, the invention components may be substantially flat packed for ease of shipping and handling. In a further embodiment, the invention provides a multifunction insulating cover that may be fitted with a ventilation means, such as a louver or powered fan to enable ventilation through the framed opening even though the attic cover would be closed.