Absolutely, by dummy member I mean a geometrically correct rigid link -- still active in the model. Sorry, not familiar with STAAD to know if I'm getting the terminology right.
No offense, but substation steel design (IMO) isn't about getting the most precise answer to your problem. It's about developing a reliable, repeatable, constructable design. Way better to use a standard robust detail than it is to save 2lb/ft on a beam.
Besides, you are likely overestimating your knowledge/modeling of how each individual structure's foundation will behave anyway. For a bus support, you're probably on a bunch of individual drilled shaft foundations -- they're each going to settle and rotate differently from the next. That's likely going to affect your design as much as the properties of an insulator.
Is this really a single column bus support? Why bother with STAAD? Design it by hand and be done.
(All of the above comments assume that you don't need a specific dynamic analysis. And I mean really need -- it'd have to be a complicated substation retrofit or a high seismic zone with substantial space constraints before I'd get to the level of properly modeling insulator behavior.)