Yes, rental insurance will usually cover your bikes from theft anywhere, even if the bike was not on your property when it was stolen. Definitely check with your provider to make sure your bikes are covered, but they normally are.

However, most policies have a deductable of $500 on stolen items, which means they only pay for the amount over $500. (For example, if you have a $1000 bike that is stolen, they give you $500. If a $525 bike is stolen, you get $25). I have a $250 deductible for this reason.

Make sure you get "replacement cost" insurance. Your beat to **** bike might have cost $1000 when it was new, but it's only "worth" $300 bucks now. If you have replacement cost insurance, they give you the money to buy a new one, not the $300 it's worth. Keep in mind that this doesn't really work for vintage bikes.