As LittleInch (he is straight to the point again!) I am more conserned about the valves ability to withstand the temperature (is the valve really constructed and certified for this temperature?) than the necessity of insulation. The 400 degrees gives a vastly overheated steam at this pressure, which again rises the question of the actual control of pressure: is it sure that the pressure will be within 10 bar, and can (again) the valve, in case, withstand a higher pressure at this temperature?
To the question: Insulation of steam valves is relatively cheap, and can for instance be obtained by tailored 'stuffed' jackets, fastened by bands to the valves. The insulation will both protect operators against accidental burns and guard against (some amount) of heat loss.
For 24 four hours purging at higher temperature it also might help protect aganst temperature fluctations, depending on required accuracy and surrounding temperature and variation. Regarding the cost of heat-loss insulation will probably (depending on cost of heat source) count less.
(General questions will give general answers: good luck!)