If you want to reduce bicycle theft in the US, the solution is simple: drastically increase the penalties for perpetrators. Get caught stealing a bike? One year in jail. Adjust until the level of theft is where you want it to be.
Stealing a bike is not just taking $300 or whatever from the owner. It's robbing that cyclist and would-be cyclists of the confidence to use their preferred mode of transportation, and deteriorating their health in the long term. This is a lot more damaging than non-cyclists often intuit, and insurance cannot cover it. The penalty for stealing bicycles should be closer to the penalty for stealing a car and intentionally injuring someone. Currently it's close to zero.
Stealing a bike is not just taking $300 or whatever from the owner. It's robbing that cyclist and would-be cyclists of the confidence to use their preferred mode of transportation, and deteriorating their health in the long term. This is a lot more damaging than non-cyclists often intuit, and insurance cannot cover it. The penalty for stealing bicycles should be closer to the penalty for stealing a car and intentionally injuring someone. Currently it's close to zero.