Olympic cycling surge brings golden opportunity for thieves

Commuters getting on their bikes to avoid Olympic congestion are being urged to put the brakes on opportunist thieves in a race to cash in on a sales boost.

Halifax Home Insurance has reported an eight per cent increase in bike theft claims during July- and with a projected all-time high of £700million in bike sales forecast for 2012, cyclists are being encouraged to ensure they're protected by more than just a helmet to prevent a surge during the Games period.

The latest figures from the home insurer estimate the average cost to replace a bicycle is £300, so passengers swapping Oyster cards for handlebars to steer clear of congestion hotspots including King's Cross and London Bridge should invest in a good lock and check their insurance policies in order to stay on track.

Currently 16% of Britons cycle more than once a week, and the rising profile of the sport along with three million extra passenger journeys expected on the Games' busiest days and stretching daylight hours, bike parking areas will no doubt fill up fast.

Martyn Foulds, senior claims manager, Halifax Home Insurance, said: "People choosing to cycle to work during the Games and those planning to buy a bike for commuting should check their home insurance policy and consider additional cover for contents outside the home.

"Keeping receipts and taking photographs of the bike after purchase and noting any modifications would help claims to be processed smoothly should anything go wrong.

"Often some types of locks such as cables can be cut and are therefore not enough of a deterrent for thieves, so investing in a solid lock can be worth it in the long run.

"Insurers require a crime reference number in order to make a claim, so ensure you report any incident to the police as soon as possible should you fall victim to theft."

Halifax Home Insurance advice for cyclists:

Invest in a good lock. Use a hardened, recommended D-shape lock as cable locks can be easily cut

Check your home insurance policy and consider additional cover for contents outside the home if you use a bike to travel regularly

Take photographs, keep receipts and note the name, specific model and serial number of the bike

Ensure your bike is marked and registered with a police security initiative such as bikeregister.com

Park your bike in well-lit busy areas where possible

Make use of bicycle racks wherever possible and always lock your bike even if only leaving it for a few minutes