You're best with both policies. Considering one is free and the other protects your couch that's the clear choice.

MasterLock may be trying to break their image of ****tiest locks ever, that'd be good, but I won't be the one to try them out, especially if they still have the tubular locks/keys!

Just pay a passerby a few bucks to watch your bike while your away, take advantage of how friendly NYers' are, I bet you anything some will jump at the chance to help you out.