According to one embodiment, a flood vent panel includes a plurality of insulation pieces positioned together, and a panel frame surrounding the plurality of insulation pieces. The flood vent panel is configured to be coupled to a frame positionable on a structure, so as to at least partially block a fluid passageway through an opening in the structure. Each of the plurality of insulation pieces is separate from the other insulation pieces of the plurality of insulation pieces. Each of the plurality of insulation pieces is separate from the panel frame.