Turn Live Baitwell into Cooler?

-I bought a new boat, and there is a decent sized Live Baitwell in it. I was thinking, since I don't use live bait or keep the fish. Could I turn it into a cooler? Is there a way I can insulate it so ice won't melt?i agree with mark.most bait/live wells are already insulated on new boats,and if it's not ,i have used both methods that he suggests.the blue styrofoam weather sheathing sold at building supply stores is cheap and easy to work with.if you use expanding foam be careful because it does just that,expands.if it has nowhere else to go,it will bulge out the console,or wherever the live well is.also be sure that you don't foam in any wires,pumps,etc.instead of drilling holes,see if you can remove some screws from the hatch/lid and spray the foam in down the empty screw hole. if the hole is blind, drill through. then just replace the screws.if you can't find any other way,use plastic bags strategically located, and spray the foam into the bag(s) and they will conform to the space.
Ice is going to melt no matter what you do. That's how it keeps the drinks cold, so... Just dump in a couple of bags of ice and your drinks and go for it!