Even with the high level of concern many do not have theft insurance. 4 in 10 cyclists reported having no insurance protection at all. The average reported value of a stolen bike was over £550. So with no insurance, the financial impact (not to mention the other impacts) of theft is huge.
If your bike has been stolen there are 10 vital things you should do quickly to maximise the chances of seeing your ride again.
Newly compiled data has estimated a staggering 70,000+ bikes were stolen in London in 2014.
As soon as you have purchased a new bike, record the frame number, bike details and take photos - especially of unique parts/features - the police will ask for this if you are a victim of cycle theft. There are a number of police approved and monitored registers, such as Immobilise.com who also offer bike tagging technology.
Taking on bad with good @StolenRide has an ever-growing community of 'seekers' on Twitter. Simply, riders with bikes stolen in London tweet the bike and location details to @StolenRide, the account retweets and then the community followers retweet the details again. I hear you ask, does it actually work? The simple answer is yes.