London ranks highest for unreported bicycle theft

• An estimated 75,000 bicycle thefts went unreported in the Capital last year
• This is the equivalent of three in every four stolen bikes
• More than 1,000 unreported bike thefts occur every day in England and Wales and more than 200 per day in London
   

An estimated 75,000 bike thefts went unreported in London last year, according to new analysis1 by Privilege home insurance. Only 19,000 incidents of bike theft were officially recorded by police during this period.  This means that three in every four bikes stolen in the Capital are likely to go unreported.

The incidence of unreported bike theft is higher in London than any other region, with the South East being the next in line at 57,951.

According to the Crime Survey for England and Wales 2013, there were 377,000 bike thefts in England and Wales last year, but only 97,000 were officially reported. This is equivalent to more than 1,000 unreported bike thefts every day.

On average, it cost cyclists £2962 to replace a bicycle – a figure that has risen by more than a third (36 per cent) in the past four years.

Dan Simson, head of Privilege Home Insurance commented:

“It is essential that the theft of bikes, or any other property, is reported to the police. Not only does it enable the police to attempt to track down the item, it also ensures the victim has a crime reference number to give to their insurer.”

Simson continues: “Ensuring your bike is securely locked or kept inside the home will help prevent bike theft, but unfortunately these incidents do still occur. Bikes are valuable assets and with more than a thousand being stolen a day last year, the cost can really mount up for cyclists in the UK if they do not have the right insurance. Cyclists should look for a policy that covers their bike both at and away from their home.”

Unreported bicycle thefts by region

Source: Privilege Insurance, 2014

Privilege personal possessions insurance includes cover for your bike outside of the home. It can be added to a Privilege Home Contents Insurance policy and is included as standard in Privilege's Platinum Contents product. Personal Possessions insurance covers up to £500 per bike on the Home product and up to £1,000 per bike on the Platinum product, and any bikes over these limits can be added for an additional premium (up to £2,000 per bike and £5,000 in total).

If customers do need to make a claim, they will be supported by Direct Validation Services (DVS), one of the UK’s leading insurance replacement specialists. DVS has a dedicated bike validation team who will take the time to replace even the most specialised cycles.

ENDS

Notes to Editors

 1 Crime in England and Wales, Office for National Statistics, Year Ending December 2013

 2 Crime in England and Wales, Year Ending March 2013

For further information please contact:

Chloe French
Media Relations Executive
Privilege Home Insurance
01651 831 715
07770 640865
chloe.french@directlinegroup.co.uk

Privilege

Privilege Insurance specialises in car insurance for safe drivers. It also offers home insurance and breakdown cover by phone or on-line.

Privilege general insurance policies are underwritten by U K Insurance Limited, Registered office: The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England No 1179980. U K Insurance Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Privilege and U K Insurance Limited are both part of Direct Line Insurance Group plc.  

Customers can find out more about Privilege’s products or get a quote by calling 0845 246 0515 or visiting www.privilege.co.uk