Originally Posted by
aggst1
Don't really know about bikes but for cars or anything else covered under an insurance policy the insured is reimbursed for the market value of the loss, at the time of the loss.
Unless you buy the "replacement value coverage" option for your home owners or renters insurance.
You get a check for depreciated value less deductible when you file the claim, and a check for the difference between market value and replacement cost when you buy a new one and submit a receipt.
It's fairly inexpensive (maybe low teens?).