Join Date: Aug 2005
Location: Pittsburgh, PA
Bikes: '''96 Litespeed Catalyst, '05 Litespeed Firenze, '06 Litespeed Tuscany, '12 Surly Pacer, All are 3x8,9 or 10. It is hilly around here!
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I agree that you should insure it for replacement value and pay the extra premium. Either that or leave it uninsured and basically be "self-insured", i.e. if it's stolen or damaged, you buy a new one.
Bikes depreciate fast and, as noted, with a typical $500 or $1000 deductable, you will get next to nothing even if the bike is a total loss.