We were just shopping around for home insurance. Ended up with Cooperators as well. $500 limit per bike under their normal policy, which doesn't cover my two bikes (paid ~$1500 for myroad/commuter, paid $3500 for my mountain bike, both 2-3 years old). However, the cost to get the bikes insured as separate items was quoted as $200 per year for me.
On the plus side, they will reimburse for the full value of the bikes in case anything happens to them, with no deductible. They also claimed to reimburse in case the bikes got scratched or anything (which was funny, since MTBs get dinged up all the time...)
Since I store the more expensive bike indoors, and due to the depreciation on bikes, I figured that it wasn't worth it. If people break into the house to take my mountain bike, I have bigger problems.
Just my 2c. If I had a much more expensive bike, then I might think differently. As of today, I have a hard enough time justifying my hobby to my SO without also adding fees to our insurance...
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