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Bike theft leads to insurance checks

27 April 2005
Consumers have been advised to check their insurance covers their bikes, after Halifax revealed that bike theft is on the increase.

According to Halifax General Insurance, the number of claims rose to 267 per cent in 2004 and it is targeting consumers particularly at this time of year since bank holidays are a popular time for cycling.

Five key hotspots have been identified now as being the worst for bicycle theft and the UK insurer has now produced a list of tips to help protect customers.

Simon Stevens, deputy CEO, Halifax General Insurance, said: "A quick stop at the shops without securely locking up a bike provides thieves with an open invitation as well as an immediate get away vehicle; cyclists need to make sure they use a U type padlock, to act as a clear deterrent to opportunistic thieves. Cyclists also need to be vigilant at home.

Mr Stevens called on customers to ensure their policies covered their bikes.

"People often assume their home insurance policy will automatically cover all of their possessions and new additions to the home but people must reassess their insurance needs on a regular basis and inform their provider of new purchases. This will help to make sure their cover is adequate, up to date and that they are protected should they fall victim to loss or theft."

Halifax includes bicycles in its home insurance policies.

To read more about home insurance click here.

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