Increase in bike theft makes insurance essential

Wed, 12 Apr 2006

The number of bikes being stolen has risen by almost ten per cent in the last five years making insurance even more vital to protect against loss.

According to Home Office figures, nearly half a million bikes are stolen annually in the UK, which marks a 9.5 per cent increase compared to 2001.

With one in every 50 cyclists having their cycle stolen, Halifax General Insurance urges people to invest in a good insurance policy.

Cyclists without insurance will be even more concerned to learn that 52 per cent of all bike thefts happed directly outside the house, from a garage or shed.

However, with over a third of thefts happening away from the home, it is worth ensuring a bike insurance policy covers loss away from the owner's property.

Bike insurance can bring some peace of mind to cyclists, but Halifax General Insurance also advise that bike owners take further safety precautions to protect their cycle.

The insurance company recommends fitting a U-type lock to the bike if it is being left on its own for a while. Preventative measures will help cyclists avoid having to make any insurance claim in the first place.

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