Halifax Home Insurance cash incentives could save you money this National Bike Week

16 June 2008 / by Joy Tibbs
This week is National Bike Week (June 16-22), and Halifax Home Insurance is warning those hitting the cycle track not to give thieves an easy ride. And the company is offering incentives to those taking out home insurance, which also provides bike cover.

While National Bike Week is a great time to hang up the car keys and take a greener approach to travel, Halifax Home Insurance is concerned that people could become victims of theft if they do not take care. A recent study from the British Crime Survey shows that a bike is stolen in the UK every 65 seconds, on average, and that the cost of replacing a bike is typically £337.

Head of underwriting at Halifax Home Insurance, David Rochester, said: "One bicycle theft every 65 seconds is shocking. While cycling has many benefits for people's health and also the environment, it is important that people take adequate measures to protect their cycles and also make sure they are insured, both in the home and also when out in public places."

Halifax data shows that London is the most risky area for cyclists, with regions of the Capital accounting for four of the top ten bike theft hot spots. Other vulnerable areas include Bristol, Reading and Chester.

Despite the risks, the company claims there are various simple ways to reduce the likelihood of having bikes stolen. It encourages cyclists to make use of specific bike parking racks and always keep bikes locked, even when leaving them for short periods of time. Using hardened steel U-type locks and considering anti-pry devices are advised.

In addition to the general safety tips, it reveals that Halifax Home Insurance offers bike cover up to £500 as standard and that those with a value exceeding this will be insured providing the customer has listed it as a special item on their policy. And for additional cover, it may be worth looking into cover for theft away from the property.

Halifax Home Insurance is currently offering customers £50 when they take out a buildings and contents insurance policy. It will also give customers a further £50 a year they keep their policy without making any claims.

© Fair Investment Company Ltd