I remember having similar with a Marin I had BITD. It wasn't mint tho but was in good condition.
After being nice to the insurance girl on the end of the phone, she told me that the insurance company had a policy of not investigating any claims below £1000... unsurprisingly the amount i claimed for was £999, which I then got! I'm sure if they had actually done any investigative work they would have given me a lot less!! Sometimes its good to now the system and how it works. That was a stroke of luck her telling me that little fact.
Comiserations on the loss of the Pace, if you ever catch the scrote who did it, I hope they get their 'just deserts'!