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A hold item that increases the Base Power of all Bug-type moves by 20%. When held by a Pokemon with the Multitype ability, the holder's type will change to Bug.
Despite Bug-type STAB being useful for covering both Psychic- and Dark-types in one move, Bug Arceus is outclassed most of the time by Ghost Arceus, who has the same resistances, better neutral coverage with its STAB, and no weakness to Stealth Rock. Fighting Arceus is also better as a Darkrai counter, and Bug Arceus is saddled with problematic weaknesses to Fire-, Flying-, and Rock-type moves.
However, it is generally useless aside from Arceus, as most other Bug-types find the power boost from Insect Plate to be too menial.
Abyssal Ruins, 1F.