If someone steals my bike, I get a police report, then inform progressive and get a new 14 year old motorcycle. Same for my car, it's insured just enough to cover my mistakes against other cars, vandalism, theft and stuff like that but does not cover if I wreck my car getting money to buy a new one or repair my car.
I take security precautions, and the inconvenience it would cause would suck, but overall, I don't care.