The Kryptonite guarantee is contingent upon several factors:

1) You have to register your lock and bike with Kryptonite within the two week period after purchasing your lock.

2) You have to follow Kryptonite's instructions for reporting the theft (one good thing, you have the lock, which Kryptonite requires you to return.).

3) The guarantee is only good for one year, unless you purchase the two or three year guarantee when you first register your bike and lock.

4) If your bike is covered by homeowners or renters insurance, and you've met the Kryptonite requirements for activating the guarantee, they will pay your insurance deductible, and your insurance company will pay the balance.