With news that bike sales are over 40 per cent up on a similar figure five years ago, Churchill Insurance has issued a warning to cyclists that their property can be "an easy target for thieves".
As more people become conscious of the threat to the environment posed by pollution and the rising costs of a commute to work by car or on public transport, more than 13 million Britons have bought a new bike in the last 12 months.
"Bikes are obviously very vulnerable to theft, particularly opportunist theft when away from the home," said Martin Scott, head of Churchill Home Insurance.
"Whilst cyclists are generally security conscious, clearly theft is still an issue that affects many owners," he added, noting that a fifth (20 per cent) of all cyclists have had their bike stolen at some point in their lives.
Churchill urges bicycle owners to ensure they are covered for theft of their bike at home as well as when out and about. A home contents policy typically insures against theft from the house and out-buildings but extra cover is usually required for contents away from the home.To read more about insurance, click here.
© Adfero Ltd