Insured for bicycles?? What on earth does that mean? Bicycles can't cause damage (except a bit of dirt when wet), they can't injure someone if they are not left lying around. It's silly.
This calls for a united stand.
If the bicycle is stolen, the building's policy would reimburse the owner. However, if the the insurance does not cover bicycles, then the owner would have to pay out of his/her pocket.