Basement insulation question

Hi there,

I currently have an unfinished basement that I am going to finish. I've been researching insulation methods and am particularly looking into whether or not to insulate the ceiling before putting up the drywall ceiling.

The main floor of my house is always colder than upstairs and I suspect much of this is due to the cold basement and heat transfer between the floors. I will only be finishing half of the basement and will only be insulating the walls in that section. However, in the unfinished section, there is a vented window outside of the boiler room (for the furnace) in a storage area and that area is cold. Should I insulate the ceiling in this unfinished storage area to help keep the room above it warm? Will this work?

Thanks for your help