Research has shown that almost half a million bicycles are stolen every year in the UK. That works out as one bicycles stolen every 65 seconds, almost once a minute.
The capital is most badly affected place with four out of the top ten highest risk areas found in London.
The average cost of replacing a stolen bicycle is higher than some may expect, at £337. With the frequency of bicycle thefts in this country and the high cost of replacing a stolen bicycle, insurance is something all cyclists should consider.
If your house is burgled, your contents insurance may cover your bicycle, but there may be snags. Some policies will only cover up to a certain price, so if you have a particularly expensive bicycle you should consider bicycle insurance.
Also if your bike is stolen outside of your home, it is unlikely that your contents insurance will cover your bike. Considering that 95 per cent of bicycle thefts are made outside of the home, individual bike insurance is a good idea.
Halifax Insurance have found that even if you lock up your bike when you are out and about, this may not be enough. According to their data, 86 per cent of all stolen bicycles were locked up when they were stolen.
Halifax head of underwriting David Rochester says “We have been looking into the frequency of bike theft for some years now and still we see no sign of a decrease in this crime. We encourage all who experience bike theft to report it to the police, otherwise they could miss the opportunity to make a claim.”
Halifax have a few tips to minimise your chances of having your bicycle stolen. They recommend using bicycle racks when locking your bike up and where possible locking your bike up in well lit areas.
They warn that when keeping your bike at your property or when it is not in use, to keep it locked inside either your house or an outside building. Make sure that wherever you store your bicycle, the door is always kept locked.
Halifax recommend using hardened steel U-type locks as simple cable locks are easily cut within minutes. Other security devices such as anti-pry devices which cover the gap between the bike and the object it is secured to, preventing a thief from inserting a tool in the void and prying or twisting the bike free.
To protect you in the event that your bike is stolen, it is a good idea to register your bike at one of the bike ownership agencies, making it harder for the thief to sell.
Using an ultraviolet marker pen to write your postcode on the frame will help police to identify your bike if it is stolen, and return it to you.
If you write down the name model and serial number of the bicycle, you will be armed with all the details which the police need for their attempt to find your bike.
Taking photographs of your bike and keeping a note of extras will ensure that you can prove what kind of bike was stolen and will get an accurate payout from your insurance company.
