The idea is to over insure so that in the case of total loss, a payout would be sufficient to buy a used replacement. Id like to insure it at the R20K mark, just dont know what companies work that way. And would a valuation be on actual value or on a value to actually be able to replace. I'm well aware the bike is actually worth very little, but if it gets stolen, its still a DH frame with a boxxer shock, and I like to be able to replace with a similar item. I'm happy to pay accordingly.