I was lucky, I suppose, I didn't have to add onto my home owners policy. I bought a TREK 2.3 (worth app. $1750.00) I had a busted brain bucket, torn up jersey, pedals, shoes, riding shorts, gloves. All were not worth saving and everything was replaced, less my deductible of course. After I was paid, I took that money and with what I had saved and bought a project-one. Much better upgrade, but worth it. I would NEVER want to be struck again. even for an upgrade, I can tell you that much. Bottom line is this, what do you want to happen in case of a loss? At least you are thinking now, I waited and about messed up!