[xraystyle]

I keep seeing replies like this. Insurance is not the point. Come to Venice Beach in Los Angeles and you'll quickly understand that you'll be calling the insurance company once every couple days to replace your bike if you leave it locked up outside for more than a few minutes at a time.

Around here bike theft is a sport. If they can't get the entire bike, they'll strip every single part off the frame in under 5 minutes.

On top of that, I have quite the emotional attachment to my bike. It means something to me. A cash payout doesn't replace what was lost if it were to be stolen.

Bike insurance is a nice consolation prize if you get ripped off, but it's absolutely in no way a viable solution to the problem of widespread, organized bike theft.

[akvadrako]

The insurance company is not going to give you affordable premiums if it's so likely to get stolen.

If it's available then they must have good data that theft isn't that bad.

[pjmlp]

Same in Germany, if the bike can't be stolen, they will either take what they can, or just destroy it as revenge action.