You are here: Home - Insurance - News -

Pandemic bike theft warning

0
Written by: Emma Lunn
18/05/2020
Admiral reports a 46% in increase in bikes being stolen over the past seven weeks.

Insurance claims for bike thefts are rocketing despite a fall in general theft claims as more people use, or buy, bikes during the coronavirus pandemic, according to Admiral.

The news comes as several cycle retailers report that they’ve sold out of many models as more people buy bikes to keep active.

Admiral has seen a 46% increase in the number of bicycle theft claims over the past seven weeks compared with the same period in 2019.

Overall theft claims have fallen in the same period as people staying at home during lockdown deter burglars.

David Fowkes, head of household underwriting at Admiral, said: “Unfortunately, this probably means that thieves are looking for easier targets and the rise of budding cycling enthusiasts around the country might be the opportunity they’re looking for. Our data shows just how more common bike theft has been during the lockdown; in the last seven weeks, 37% of the theft claims we’ve received were for stolen pedal bikes, compared with just 12% last year.

“We’re warning all cyclists, whether they’ve been cycling for years or have just bought their first bike, to be vigilant, keep an eye out for thieves and step up their bike security. With people being encouraged to avoid public transport where they can as lockdown restrictions ease, we could see a second surge in bike purchases, and consequently, bike thefts.”

Bike owners should check if their bike is covered on their home insurance. With Admiral any bike worth less than £350 is automatically covered, but bikes costing more than this need be added as a specified item.

How to keep your bike safe from thieves

  • Buy a decent bike lock – but remember that you get what you pay for.
  • Always use the lock when you leave your bike unattended away from home.
  • Lock your bike to a solid, immoveable object such as railings or a proper bike rack.
  • Make sure it’s locked in a well-lit, preferably busy area covered by CCTV.
  • Never leave your bike unsecured outside your home, even on your own property.
  • At home always lock your bike away when it’s not being used.
  • Register your bike with a national scheme such as Immobilise or the Bike Register.
  • Take photographs of the bike, including any distinctive marks or features on it – just in case the worst happens.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Your right to a refund if travel is affected by train strikes

There have been a wave of train strikes in the past six months, and for anyone travelling today Friday 3 Febru...

Could you save money with a social broadband tariff?

Two-thirds of low-income households are unaware they could be saving on broadband, according to Uswitch.

How to help others and donate to food banks this winter

This winter is expected to be the most challenging yet for the food bank network as soaring costs push more pe...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

DIY investors: 10 common mistakes to avoid

For those without the help and experience of an adviser, here are 10 common DIY investor mistakes to avoid.

Mortgage down-valuations: Tips to avoid pulling out of a house sale

Down-valuations are on the rise. So, what does it mean for home buyers, and what can you do?

Five tips for surviving a bear market mauling

The S&P 500 has slipped into bear market territory and for UK investors, the FTSE 250 is also on the edge. Her...

Money Tips of the Week