Bicycle insurance is mostly useless unfortunately. We really need to do something about it if bicycles are going to be practical for more people. Cars get probably 100x the Police resource dedicated to them compared to bikes.
Bikes were not meant to be $1000+. Get a cheap one and set aside a monthly amount for replacing it. Don't get insurance on it. Get into an accident? You should already have health insurance to cover it.
They definitely don't need to be that expensive, but anything less than 500 credits isn't going to be very nice to ride. The sweet spot is something like 600-700 which is non-negligible.
