Don't count on the anti-theft guarantees to do much for a new bike either -- there's some pretty strict conditions that must be met before they pay out on the insurance. I've never heard of anyone getting a payout.

Instead of looking for the least expensive option, determine with your Dad what your budget is (I know with my Dad, if I did a good job of convincing him, he would give me enough money to get something considerably better than low-end) -- once you know how much you've got to spend, you can look for the best value in that price range.

You'll also need a good lock and cable ($40-50), a helmet if you don't already have one ($30), a water bottle and holder ($15), plus any taxes -- if you can swing it, get a rear rack too. If you have a total budget of $600 to $650 (which is considerably less than $1000) you can probably get a pretty nicely decked out bike that will end up costing less in the long run because it will have better, and more durable components, and you'll want to ride it more because, well, because it'll be nicer to ride than a cheaper bike. Sell it to him, man. Sell it.