Originally Posted by moxfyre
I just read the "fine print" on my new Kryptolok and it says that if you buy their anti-theft protection, and then your bike is stolen, you must send "broken lock and/or broken links - required as proof of product failure". Doesn't this make the offer basically worthless???? I mean, if a thief busts your U-lock open, what are the chances that he just leaves it lying around?
If you have homeowners or renters insurance that provides theft protection for your bike, then the protection offered by lock companies is just about worthless. They will only cover whatever your insurance does not cover which should be just the deductible.
Kryptonite (and maybe other companies) also require you to send a proof of value for the bike in the form of either a sales receipt or appraisal from an LBS. So, unless you have a fairly new bike, your coverage is only going to be for the depreciated value of the bike, not the replacement cost. Your regular insurance may provide for replacement coverage regardless of the current value of the bike.