Close to half (46%) of all personal theft claims in the UK are for stolen bicycles. Interestingly, mobile phones are only ranked third, with handbag theft snatching second place. This is according to research by specialty home insurer HomeProtect.
The cost of replacing or repairing a stolen or damaged bicycle can be quite significant, especially for dedicated cyclists that invest in expensive equipment. Cycling is quite popular in the UK, and more bikes make them more likely to get stolen. HomeProtect allows an unlimited number of bicycles to be registered under its home insurance policy.
According to Shane Leivers, director of product and marketing at HomeProtect: “As more people have taken to cycling, bicycle theft is much more common throughout the UK. In fact, our research from April 2016 shows that bicycles are currently the most stolen item. With the weather improving there are likely to be many more cyclists on the roads and preventing bike theft should be a priority for every rider. More than a third of UK adults cycle, so as well as investing in locks and registering your bike to your address, adding your bicycle to your home contents insurance policy should be a straightforward decision.”
Rounding out the top five most commonly stolen items are watches at fourth place and jewellery at fifth.
Meanwhile, the top ten regions in terms of personal theft claims are:
1. East Anglia (16%)
2. London (14%)
3. South West England (13%)
4. South East England (12%)
5. Midlands (12%)
6. Home Counties (10%)
7. North East England (5%)
8. Scotland (8%)
9. North West England (7%)
10. Wales (3%)