I don't have a beater. I do not leave my bike out at night. And I have taken plenty of precautions to make my bike safe.

1. I use pinhead locks for both my seat and wheels to secure them
2. I use a u-lock, maybe 2 in some locations
3. I do use a cable to secure my seat or wheel, in addition to the u-lock

I aim to make my bike harder to steal than the one next to it!

I also look for secure bike parking: bike valet, bike lockers, bike rooms or watched locations.