As the above posters -

It also depends on your insurance carriers. I have Allstate and my bike is covered under homeowner's insurance. My ring is insured separately (Rider I believe it's called). Since I have Allstate Auto insurance as well, saves you money if you have coverage for both your car and house.

It would make sense to take pictures, save receipts for anything related to the bike such as pedals/shoes/gadgets. Or anything you have in the house. My mom does this for everything that is over $200 such as microwave, TV, stereo, computer, etc etc, all in one binder so there's no dispute on how much was paid, the warranty infos, receipts, etc. Wish i could be more like Mom!

I should do the same for my bike as that's probably the most expensive thing I ever owned, next to my car.