Halifax has warned loans-consumer.aspx" title="consumers">consumers to be aware of bike theft as latest statistics show that one bike is stolen in the UK every 65 seconds. But the announcement by the insurance company is timely as this week marks the National Bike Week.

The insurance company says that one bike is stolen in the UK every 65 seconds, with London identified as the bicycle theft hotspot. Halifax is urging consumers to take precautionary measures in order to reduce the risk of falling victim to bike theft.

Halifax says that people living in Reading and Bristol should also consider taking additional security precautions while riding around as these two large urban areas were found to have the highest rates of bike theft outside of London.

David Rochester, head of underwriting at Halifax, said: “One bicycle theft every 65 seconds is shocking. While cycling has many benefits for people’s health and also the environment, it is important that people take adequate measures to protect their cycles and also make sure they are insured, both in the home and also when out in public places.”

According to Halifax, the average insurance payout for replacement of a bicycle will total £337. However, the insurer recommends that consumers who have been unfortunate enough to fall victim to the crime, should consider taking out a personal loan. Halifax says that this will provide the necessary funds to get back on the roads again and enjoy the health benefits that cycling brings.

But the growing problem of bike theft is not restricted to London, Reading and Bristol, other areas including Gloucester, Oxford, Chester and north Wales were also identified as particular problem areas when it came to thieves targeting bicycles.

Among the methods proposed was making use of available bike racks and always locking bicycles securely, regardless of how long the rider plans to be away from it. Additionally, people should also look to lock their bike in well-lit, public areas wherever possible to reduce the likelihood that opportunistic thieves will attempt to take it quickly.

Consumers are also advised to keep bikes locked away indoors when they are not in use and make sure that doors to buildings in which bicycles are kept remain locked at all times. Halifax suggested that opportunistic thieves will be happy to take their chances if they see a bike that is unprotected, even if homeowners are nearby.

The insurer further advised against using cable locks as these are easier to cut than steel U-locks. Halifax also recommended that, anti-pry devices are used as additional security. These protect the bike from being levered away from the object it is secured to, thus acting as an additional deterrent to thieves. The company also believes that additional measures such as registering with bike ownership agencies and marking their cycle with a UV pen detailing postcodes could prevent theft.

Taking out personal loans could also be an effective way of financing a new bike and additional security devices for people who do not currently own a bike but wish to get involved in National Bike Week. Halifax says they can use the National Bike Week to improve their health and reduce their carbon footprint.