Originally Posted by tie
You need to send the lock in, so I think it is fairly useless. Also be aware that you need to register for the insurance within a couple days (perhaps one week?) of buying the lock, and include a receipt for the bicycle too. There are some other limitations -- read the fine print if you care.
If you have a used bike, you'll need an appraisal from a local bike shop. If the crook takes the lock with him, you get no money back.