Ultratherm recommended that a styrene based insulation board be put underneath the heat pad? I'm a bit surprised by this since in the US these insulations need to be covered with a fire rated product, at least according to code. But then again, ultratherms are a UK product where code may be different.
Regardless, I have done this and it does help. However, I have found that a piece of Reflectix is actually as effective if not more effective, and it already fire-rated on its own. But you need to take care this it's not being crushed by the cage so it's not as simply as just setting the cage on top.
But to get to your point, insulation underneath the cage will make your heater more effective but there are safety issues. I have done it in the past but probably won't ever do it again. Partially because I have a lot of Reflectix laying around and partially because a friend of mine had a fire in his herp room, leaving me a bit paranoid.
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Current snakes:
1.1 Gonyosoma oxycephala - (Silver/Yellow)
2.2 Gonyosoma oxycephala - (Green)
4.3 Gonyosoma janseni - (Black)