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Thieves leave cyclists with £35million bill

Bike thieves are costing UK cyclists £35 million** each year, according to Direct Line Home Insurance.

Incidents of the crime are now happening so frequently that 1,200 bikes are stolen each day in the UK – which equates to over 439,000 bikes annually.

Yet despite the increase in stolen bikes – cyclists are failing to protect themselves financially. Over half (54 per cent) of those experiencing bike theft failed to properly cover themselves. Of these, one in five (20 per cent) did not extend their home insurance to cover bikes locked up in public, and were subsequently left unprotected. A similar number (21 per cent) said they simply took the risk.

The extent of this bike crime wave was made clear in a live experiment‡ carried out by Direct Line, with bikes locked up in the centre of ten major cities. After 24 hours, the majority had been stolen, with half of these disappearing within two hours of being locked up.

Bikes vanished most quickly in London (Croydon), lasting less than an hour before being taken, followed by Manchester and Liverpool, where they stayed put for less than two hours.

And not only are bikes easy to steal, they are also easy to sell on, as consumers typically fail to make checks on a bike’s origin. The research reveals that two thirds (64 per cent) of bike buyers in the last five years have turned a blind eye to previous ownership.

In a campaign to cut theft, Direct Line is warning consumers that by purchasing stolen bikes unknowingly, they are creating an appetite for thieves and adding to the problem.

The ease of sale can also be blamed in part on the rise of online auction sites, where bike sales are less regulated than ever, and buyers are unlikely to ask about the origin of the bike. Nearly half (41 per cent) of all second hand bikes bought last year were purchased over the internet, highlighting the need for consumers to make their own enquiries.

Ex bike thief Bob Turney comments:
“Bikes are a thief’s dream because they are so easy to steal and even easier to sell on. Online auction sites offer a quick way of getting rid of stolen bikes, as so few consumers bother to make any checks about where they come from.”

Andrew Lowe, Direct Line’s Head of Home Insurance, commented:
“With bike theft on the up, cyclists need to be more careful than ever when leaving their bikes locked up in public. Using a good lock, and placing the bike in an open and visible area will all help.

However, our experiment demonstrated just how quickly a bike can be taken, even when locked up in a public area, so we’re reminding cyclists to ensure their home insurance is extended to cover bikes kept outside the home.

“We’re also asking consumers buying second hand bikes to be vigilant and check out the origin of the bike. Inadvertently buying a stolen bike will only fuel the market, and reward thieves.”

For more information, log on to www.directline.com.

EX-BIKE THIEF BOB’S TOP TIPS TO PROTECT YOUR BIKE

• Make sure you lock your bike up in plain sight of others. A good tip is to choose an area monitored by CCTV, as criminals never want to be caught on camera
• Don’t scrimp on a lock – a cheap lock will be removable in an instant 
• Make sure both your wheels and frame are locked together. With ‘quick-release’ latches common, a thief can make off with a wheel in seconds
• Don’t take the risk of locking your bike up in a public place overnight, it’s a thief’s dream come true, as it will be rarely monitored – a virtually risk free steal
• Don’t leave your bike for longer than necessary, and if possible, come back to it and move it to a different location.
• These tips will help, but the only way to properly protect yourself is to ensure your home insurance is extended to cover a bike locked up outside the home

SECOND HAND BIKE BUYERS CHECKLIST

• Buy your bike from a legitimate source, such as specialist second hand bike shop or bike hire shop. Avoid buying from independent sellers on the street
• Be wary of bargains. If the deal seems too good to be true, it probably is
• Ask the seller to produce a receipt for the bike or contact details of who they bought it from
• Always keep the contact details of the seller on record for future reference
• Check the bike for an engraved postcode and phone number or evidence of a number that’s been scratched off. If you do find a phone number, check it matches the contact details of the seller
• If you have any doubts about the bike’s origins, check with local police and see if a bike of the same description has been reported stolen

TOP FIVE CITIES FOR BIKE THEFTS IN LIVE EXPERIMENT

For more information, log on to www.directline.com.

Notes to Editors:

* 439,000 bikes stolen in 2006 (British Crime Survey 2006) x average cost of stolen bike (£147.65) = £64,818,350. 54 per cent of bike thefts were not covered under home insurance = £35,001,909
†439,000 bikes stolen in 2006 (taken from British Crime Survey 2006)
** 2002 bike thefts = 359,000 – 2006 bike thefts 439,000 (BCS 2006)
‡ Direct Line commissioned Mystery Shopper to conduct a live experiment designed to show how vulnerable bikes are to theft in Britain’s cities. Bikes were placed in 10 major UK cities (London, Birmingham, Leeds, Glasgow, Sheffield, Bradford, Edinburgh, Liverpool, Manchester and Bristol) by agents who monitored them every hour over one day from 11am to 8pm and thereafter they were left over night. The time taken for each bike to be stolen was recorded and the results compared by city. This method is not intended to be scientific but provides a snapshot of the extent of bike theft in the UK. Thefts were not reported to the police, and bikes that were not stolen were donated to charity.

For more information please contact:

RBS Insurance Press Office
Tel: 0208 285 3277