How does insurance for a bicycle work exactly? I just got a new road bike and I am currently keeping it in my house and never leave it outside. I have a kryptonite d lock and a lock for the front wheel. I will be going to university in September I want to take my bike with me and I will keep it in a bike storage but nonetheless I am paranoid about it getting stolen. If I have insurance and my bike gets stolen what will the insurance cover? How much money would I get back?