Interesting, I have never heard of Velosurance.
To the OP (Travis) – did you end up purchasing a policy with them?
When I last checked (7+ years ago) with my home/car insurance (Farmers) the agent just kinda chuckled when I told him the value of the two bikes I wanted to cover. He ran the number and came back with quote that was just south of $700/year! And that only covered theft. I told him no thanks.
I will have to check out Velosurance