David Fowkes, Head of Household Underwriting at Admiral, said: “One of the effects of the lockdown has been so many more people buying bikes for exercise or just to get around. Several cycle retailers have reported that they’ve sold out of many models, and while this is good news for the nation’s fitness, our data suggests it’s also resulted in an increase in bicycle theft.
“We’ve seen a 46% increase in the number of bicycle theft claims over the last seven weeks compared with the same period in 2019. That’s incredible when you consider that overall theft claims have fallen during the lockdown as people have stayed at home, deterring burglars.
“Unfortunately, this probably means that thieves are looking for easier targets and the rise of budding cycling enthusiasts around the country might be the opportunity they’re looking for. Our data shows just how more common bike theft has been during the lockdown; in the last seven weeks, 37% of the theft claims we’ve received were for stolen pedal bikes, compared with just 12% last year.