>>1266453I've only got experience dealing with other peoples insurance after crashes they were at fault in, but it's normally market value (if not repair costs).
So, the price that a shop which sells used bikes thinks they would have sold it for. Which is way higher than its actual value if you chose to sell it, because shops have inflated costs, but it's not gonna be 2k. And the bike shop won't lie, because they want to maintain a relationship with the insurer.
If you're lucky, it's replacement value, which is what a shop will quote you for an equivalent stock bike, or maybe to build a custom to the same spec. But that's generally not how it works.
If it's your own insurer, won't you probably insure it for a certain pre-arranged value?
I agree though, just get a good lock, don't be stupid, and get someone else to pay for it if they hit you.
