Bike ownership is on the rise, as more and more people are looking for ways to get to work and get around town that are greener, and less expensive. Once you own a bike, cycling is essentially a free way to travel, and of course it also offers some significant health benefits. As bike ownership rises, however, bike theft is also on the increase. Bikes can be reasonably easy to steal, if not protected properly, and can also be sold on more easily than a lot of other commonly stolen items like mobile phones and laptops. So how serious a problem is bike theft, and what can you do to protect your own bicycle?
Bike Theft Statistics
The facts about bike theft are quite alarming. Nobody actually knows exactly how many bikes are stolen each year because often these thefts are never reported to the police, but there are statistics from the USA that say that there, over $50 million worth of bikes are stolen every year. That equates to around 800,000 actual bicycles, though some believe the figure to be closer to a million. In the UK, the problem is just as widespread, and the figures are mirrored throughout Europe, particularly in very bike friendly countries like the Netherlands. Only about 5% of bikes that are reported stolen ever make their way back to their original owners, so once your bike is gone, chances are you'll be looking at claiming on your insurance, or, if you don't have any, buying a new bike. This is why it is important to take care of your bike, both at home and when you are out and about.
How You Can Protect Your Bike
As most people are aware, a very strong bike lock is an important thing for any bike rider to have in their arsenal. This will prevent all but the most determined and well equipped thieves, but they aren't completely fool proof. Something not a lot of people think to do however, is take notes on the bike's specifics. Documenting your bike's serial number and other specifics will be useful for the police and will enable them to identify your bike if it is recovered. It may not prevent your bike from being stolen, but you'll be glad you have these records if your bike is taken. The serial number will be embossed somewhere on the frame of the bike.
In addition to taking down your bike's details you also may want to consider taking out an insurance policy for your bike. This will make it much easier to resolve the situation if your bike is taken, as you'll be able to get funds to replace it. It will also come in handy if your bike is in an accident. Protect Your Bubble are one company who do good comprehensive insurance policies for bikes, and there are also policies available from general insurers and bike retailers. Take the time to read the policies thoroughly to ensure you are covered for all eventualities.
Laura Ginn is a blogger who specialises in personal finance, insurance and security. She is also a keen cyclist, and loves riding her mountain bike at weekends, as well as using a bike to get around town. She insures her bikes with a specialist bike insurance policy.
