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Home insurance a must for vulnerable student cyclists

06 September 2007
As cycling becomes more popular, bike theft is also on the increase, particularly among university students according to Direct Line Insurance.

The company has revealed that bike thieves are costing students £18.7 million, with approximately 106 bikes stolen from university students in the UK per day.

Head of Home Insurance, Andrew Lowe, comments: “In recent years, the number of claims for stolen bicycles has risen as much as 34 per cent in September – just when new and returning students are wheeling out their bicycles to campus and bringing them back to their halls of residence for the new academic year.”

Tips for protecting bikes include locking them up in busy areas, preferably areas covered by CCTV. Locks should be substantial and wheels should be locked to the frame.

However, despite the increase in bike theft, students continue to be blasé about protecting their own bikes. The survey revealed that just one-third of students with a bike is insured, either independently or on their parents’ home insurance policy. Therefore, approximately 80,000 bikes are uninsured and would leave students seriously out of pocket should a theft ensue.

The company also discovered that, on average, men’s bikes cost almost double to replace (£187.93) compared with women’s (£98.34). However, men are more likely to risk bikes and pay for any losses themselves (39%) than women (23%).

“With so many students at risk of having their bike stolen, we would strongly advise them to either take out their own insurance or check to see if their parents’ policy covers them,” said Mr Lowe.

Find out more about students home insurance and Direct Line home insurance