Does anyone insure their steeds?

Stand alone bike insurance works out to be about 10 per cent of the value of the bike per year (so yeah after 10 years you could have bought another). Usually there is no minimum payment so cheaper bikes are still worth insuring.

Always check the details of the policy - but for mine they were not unreasonable E.g.:

• not covered in communal hallways / garages
  
• not covered if left for 12hours +
  
• not covered at train stations for certain periods of time
  
• must have receipts/keys for the locks
  etc (You shouldn't do that stuff anyway so it is good advice.)
  
  

Piggy backed on contents insurance is a better deal, I have heard.

Anyway I got mine insured for peace of mind.