Saddle up – bike claims on the rise

13 April 2021

Bike-lovers are being reminded to insure their two-wheeled treasures as pedal bike claims continue to climb.

Last year, Halifax Home Insurance received 13% more claims for theft, loss or damage of cycles when compared to 2019, with claims spiking during the summer months.

June and September saw a 34% and 44% increase in claims when compared to 2019.

When looking at bike theft in particular, the insurer had an 8% spike in these claims last year. Surges were seen both in the capital and the North West, with a 13% and 27% increase respectively.

Tim Downes, Senior Claims Manager, Halifax Home Insurance, said: “One year on from lockdown, the boom for bikes doesn’t seem to be slowing down, and bike retailers and manufacturers are still struggling to keep up with demand.

“Although from an environmental and health perspective, it’s great that the nation is swapping four wheels for two, the fact that many are still struggling to get their hands on a new set of wheels is leading to a spike in pedal bike claims.

“Making sure that you have the right level of cover in place, and taking the right steps to look after your bike means that cyclists can focus on conquering hills not thieves, and getting a new personal best on Strava.”

Top tips for protecting your bike:

  1. Take photos of your bike and make a note of the serial number and model. If it does get stolen this will make it easy to identify to the police and insurers.
  2. When leaving your bike outside, make it harder for thieves to steal by locking it to a fixed object such as railings or bike rack, and use a sturdy lock that is difficult to cut through. A combination of a flexible lock, such as a cable or chain lock, and a shackle lock, sometimes called a ‘U’ or 'D' lock, gives you more security. Make sure the lock goes through the wheel, frame and fixed object so that it is properly secured. If practical, also think about removing some of the parts such as front wheel or saddle, making it less attractive to steal.
  3. Register your bike with a tracker website such as or so that it can be traced and identified if stolen. Also think about security-marking the frame with an ultraviolet marker or even a GPS tracker so if your bike is stolen it can be easier to return to you.
  4. Make sure your insurance policy covers your bike to the limits that you need. Different insurance policies vary, so it’s worth checking.