The first advantage of a Velosurance/Markel bicycle insurance policy is that the policy never depreciates the bike’s insured value based on age or use, never, ever. If a five year old $5750 bike insured with a $200 deductible is stolen the reimbursement will be $5550, no arguments. Additionally, the policy covers the insured bike for all types of accidental damage, no matter how the accident happens, and replacement repair parts are paid new for old at current day retail prices, once again, no arguments. There simply is no other insurance for bikes that even comes close to the coverage offered by a Velosurance/Markel policy, and unfortunately, it often takes a claim to see how poorly other forms of insurance cover a high-value bicycle. If you own an expensive bike, don’t buy cheap insurance.