One more thought...I only paid 40 bucks for my bike, but it sold new for much, much more that that and it's "replacement value" is much more than the money I paid for it. It's not my fault I got a good deal for it and I have put way more money into it to get it into what I perceive as "rideable" condition.

Another thought, is a car insurance company qualified to determine the value of my ride if it is destroyed, or what even constitutes "destroyed" or totalled?