Gone in 65 seconds

As the weather warms up, many people will be swapping four wheels for two and getting on their bicycles. However, research from Halifax Home Insurance has identified the alarming frequency of bike theft throughout the UK. The insurance provider has identified that a bicycle theft occurs every 651 seconds. This beats last year's figure of one stolen every 71 seconds. Despite figures from the insurance provider showing that the average cost to replace a stolen bike is £3372 many still fail to report the theft to police, making it more difficult to claim for the loss on their home insurance.

As many of us grow more interested in protecting the environment and improving our fitness, a bicycle has become a must have for many households. As the average price of such items often costs well over £300, Halifax Home Insurance points out that failing to report such a crime as soon as reasonably possible can make it impossible for a claim to be honored. Any bicycle which is stolen has to be reported to the Police as an underwriting requirement to ensure your insurance provider is able to pay out.

Statistics show that the crime is widespread throughout the UK. According to the leading insurer's claims data, bike thieves are exceptionally busy in most parts of London4 where different boroughs of the city appear four times in the top ten, worst affected areas. Bike thieves are also hard at work in Bristol, Gloucester and Oxford.

In 2007, 86% of all bikes stolen had been locked up and 5% were stolen from within the victim's property. Halifax Home Insurance is urging cyclists to check that their home insurance policy will cover their bike if it stolen from a public place as well as if it is taken from their home.

To avoid becoming a victim of bicycle theft, Halifax Home Insurance recommends a number of simple security measures, such as fitting a U-type lock to an unattended cycle.

David Rochester, Head of Underwriting, Halifax Home Insurance comments: "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.

He continued: "One bicycle theft occurring every 65 seconds in the UK is shocking. With the majority of thefts affecting bikes which have been placed under lock and key, it may be worth considering spending a little more money for a high security lock which may stand a better chance of deterring a thief."

10 ways to avoid bike theft

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.

Halifax Home Insurance offers cover for bicycles up to the value of £500 as standard. Bikes which exceed this value will be covered so long as the policyholders have listed them as specified items. Bikes stolen from the home, garden shed or garden will be covered by Halifax Home Insurance. For complete peace of mind cyclists may also wish to consider cover for theft away from the property.

For more information, visit Halifax.co.uk.