Earlier quoted context omitted.
... why not do exactly that; but ALSO have a guest account, and prey installed. (Also re: not instantly formatting; put firmware and/or hard drive passwords on to slow them down -- most thieves are not computer experts) I think you under-estimate the speed and hassle of dealing with insurance. Also most insurance has a deductible. You're still out typically hundreds of dollars. I had a macbook pro of one of our emplo…
If you have a guest account you can't encrypt your whole harddisk. And if my laptop gets stolen I don't care about the money but about my data falling into the wrong hands.
Make sure it has no access to the filesystem outside of its homedir, and you could even set some login items to watch for net access and push a notification.