Nearly half a million bicycles are stolen every year in the UK, equivalent to one theft every 65 seconds.
London is the hotspot for criminals, with four of the ten worst affected areas found in the capital, according to research from Halifax.
With the average cost of replacing a stolen bike a hefty £337, and the (somewhat) sunny summer months motivating more of us to cycle, it’s essential you insure your bike against theft.
Protect it away from home
The good news is that most home insurance policies cover your bicycle as standard, but it’s important you check that it’s covered away from your home as well, as this is where it’s most at risk.
Also keep in mind how much your bike is worth. If it’s particularly high value, say a couple of thousand or more, chances are you’ll need to pay a little extra to increase the ‘valuables’ limit on your home insurance policy.
Finally, if you’ve added a number of improvements or extras to your bicycle, such as high performance tyres, be sure to take photographs to help you should you need to claim.
Crime hot spots: Worst areas for bike theft
| Ranking | Region | Average claim |
| 1 | South London | £440.75 |
| 2 | Richmond & Twickenham | £382.50 |
| 3 | West London | £283.36 |
| 4 | Reading | £347.58 |
| = 5 | South East London | £406.73 |
| = 5 | Bristol | £505.14 |
| 7 | East London | 397.53 |
| 8 | Chester & North Wales | £228.38 |
| = 9 | Gloucester | £249.81 |
| = 9 | Oxford | £416.52 |
Source: Halifax Home Insurance 2008
Just locking it up is not enough
According to the Halifax data, simply putting a lock on your bicycle won’t guarantee its safety. The insurer says a significant 86% of all bikes stolen had been locked up, with 5% stolen from within the victim's property.
"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,” says Halifax head of underwriting David Rochester.
“We encourage all who experience bike theft to report it to the police, otherwise they could miss the opportunity to make a claim.”
Halifax suggests 10 tips to help you avoid having your bicycle stolen:
• Make use of special bicycle parking racks where possible and always lock your bike, regardless of how long you will be away from it.
• If possible use a rack that is in a well-lit or busy area.
• When not in use, keep the bike locked in an outbuilding or inside the house.
• Always keep the door to the building where you store your bike(s) locked, even if you are just in the back garden - an opportunist will always take his chances.
• Use a hardened steel U-type lock, as cable locks are easily cut.
• Consider using anti-pry devices. These cover the gap between your bike and the object it's secured to, thus preventing a thief from inserting a tool in the void and prying or twisting the bike free.
• Register your bike at one of the bike ownership agencies.
• Use an ultraviolet pen to mark your postcode on the frame.
• Write down the name, model and serial number of the bike and store it somewhere safe in case you need to pass on the details to the police.
• Take photographs of the bike and keep a note of extras such as mudguards, high performance tyres and even water bottles, and other equipment you may have added over time.
