Halifax Home Insurance offers advice to help protect your bike

With fuel prices hitting an all time high of almost 120p per litre, and some reports predicting a long hot summer this year, many people will be swapping four wheels for two.

Halifax Home Insurance is reminding all cyclists to be aware of the increased risk of bike theft to avoid becoming a victim. 

Claims for bicycle theft rose by 65% last year during the summer months
Average cost of a bike theft is now £388
Take steps to avoid becoming a victim, says Halifax 

According to Halifax Home Insurance claims data, claims for bike theft rose by a staggering 65% during the summer months last year.  The average cost to replace a bike is now £388, so it is well worth taking steps to make life more difficult for opportunist thieves.

Senior Claims Manager for Halifax Home Insurance, Martyn Foulds says: "We anticipate that this year bike theft may be on the up as high fuel prices mean people look for ways to economise, and warm sunny weather makes cycling a more appealing option.  Many bikes that are stolen are locked up, but often some types of locks such as cables can be cut and are therefore not enough of a deterrent."

Halifax Home Insurance offers the following advice to help cyclists protect their bikes:

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

Park your bike in well lit busy areas where possible

Keep bicycles indoors and locked when not in use

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

Have your bike marked and registered with a Police security initiative such as bikeregister.com

Keep photographs of your bike and write down the name, model and serial number in case you need to report this to the Police

Check your home insurance policy and consider additional cover for contents outside the home if you ride your bike regularly.

Martyn Foulds says: "It's a good idea to take photographs of the bike, and keep any receipts to prove purchase of the bike itself and also any modifications that have been added, for example mudguards, lights and tyres."

If you are unlucky enough to have your bike stolen, the first step is to report the incident to the Police as soon as possible, as insurers need a crime reference number and the receipts and photographs will help to have your claim processed smoothly.

Halifax Home Insurance can provide cover for bicycles up to a specified item limit of £20,000 provided they are listed on the policy schedule.  Any bicycles worth under £500 are covered automatically. Customers can choose whether to cover bikes inside the home (which also includes cover for sheds, garages and outbuildings), outside the home only, or both inside and outside the home for complete protection.

Top ten hotspots for bike thefts in 2009 were:

London
Central Manchester
West London
Cardiff
Bristol
Portsmouth
Hull & East Yorkshire
Gloucester
Guildford
Taunton