Insurance companies usually have hard time given up their money and when they do it is usually half of what you expected or 12 years later.
I spend my time reading that in the news the last example on the list being the train explosion at lac megantic in Canada. You can ask people on the forum that expected money from their broken kryptonite lock

Anyway, insurance, registering,.. are corrective approach, it doesn't prevent the theft from happening but can limit the damage after the fact. Locks, alarms etc... are preventive approach made to prevent the theft from happening. A good security system should use both preventive and corrective approach.