Hey! You've got to hide your bike away

Contrary to popular stereotypes, Liverpudlians are the most honest and trustworthy people in the UK, according to new research.

The report, the result of a social experiment conducted by insurer MORE TH>N, reveals Liverpool as the safest place in the UK to leave bicycles.

Honest Merseysiders walked past a shiny new bike, left unattended in the city centre, for almost four hours before an opportunist wheeled it away - that's almost twice the national average of two hours 22 minutes. Londoners however can't be quite so proud as the report reveals our capital city to also be the bike snatch capital of the UK with a bicycle nabbed after a record 17 minutes!

Bike theft is a growing problem for all cyclists as Conservative leader David Cameron will testify, having had two bicycles stolen in the last year. The number of bikes stolen from UK streets has now risen to an estimated 300,000 annually - equating to a bike snatched every 105 seconds!

With commuters looking for cheaper travel options due to the recession, bicycle sales have risen by almost a quarter on last year (22.6%) and with June marking the beginning of the busiest period for bike theft, Brits could be facing a bike snatch epidemic this summer. Further bad news for cyclists is that only 5% of stolen bikes are ever recovered and returned to their rightful owners and with the average bicycle now costing £218 unscrupulous bike thieves are costing the nation in excess of £62 million every year.

Peter Markey, Marketing Director for MORE TH>N, comments: "The experiment was designed to raise awareness about the growing problem of bike theft and also to help us identify cities where there is a particularly high risk. Naturally we don't recommend anyone leave their bike unsecured and the experiment proves that, no matter where you live, without proper security it's just a matter of time until your bike is snatched. To help reduce the chances of bike theft MORE TH>N has prepared it's top tips for better bike security. Whether you already have a bike or are planning to invest, make sure you have the right cover in place should the unfortunate happen."

Top 5 tips for preventing bike theft:

Ensure your bike has security markings such as an etched serial number. This marking should be advertised with a clearly visible sticker to deter thieves

When securing your bike use a heavy duty lock and chain and ensure it's fixed through the frame and wheels to an immovable object. A resourceful thief can simply lift off a bike that is chained to a lamp post

Never chain your bike in an isolated location where thieves can operate without being seen

If you have a particularly valuable bike, make it more difficult for thieves by not leaving it in the same place each day

Always ensure your bike lock faces down towards the pavement. This makes it much more difficult to pick the lock