I had add-on insurance for an expensive laptop computer. It was insured against my own foolishness, such as forgetting it in the metro, or my cats destroying the LCD panel. "All risk" was what it was called. and it was quite expensive, like almost $150 for a $3000 computer, the first year, and then a bit less every year until after the 3rd year I didn't insure it anymore.

I don't think intentionally wrecking your bike would be insurable, but maybe it would be insurable for accidents, but at a steep cost probably.