Cyclists warned of bike theft threat

Cyclists have been warned to be wary of thieves in the coming summer months

The combination of high fuel prices and a long, hot summer ahead will see many people take to riding a bike, however, this brings with it an increased risk of bike theft, according to one organisation.

Halifax Home Insurance claims that bike theft rose by 65 per cent during the summer months last year, with the average cost of replacing one now standing at £388.

To avoid bike theft having an impact on home insurance, cyclists should use racks wherever possible, park the bike in a well lit area and locked indoors whenever possible.

Should a person see their bike stolen, they will have to report it to the police before their contents and buildings insurance provider, the company claims, as the insurer will need a crime reference number to process the claim.

Martyn Foulds, senior claims manager at Halifax Home Insurance, said: "It's a good idea to take photographs of the bike and keep any receipts to prove purchase of the bike itself and also any modifications that have been added."

Recent research from Defaqto showed that nearly half of all home insurance policies provide less than £1,000 cover for 'contents in the open'.