Thousands of bikes are stolen across Canada each year. In Vancouver, as cycling becomes a more common mode of transportation, the police advise that the rate of thefts is also going up! It is estimated that a thief can steal your bike in less time than it would take you to order a cup of coffee. In 2015, Vancouver had 513 thefts per 100,000 people. Compare that to Toronto where the theft ratio was only 119 thefts per 100,000 people.
Most other major cities in Canada range somewhere in between, but in general, Vancouver sees double the amount of thefts per capita compared to any other major city. Bike theft also goes unreported a lot of the time, with police estimating they only hear about just over 50% of thefts. So having said all this, if you live in an area where bike theft is common, what can we do to protect our bikes?
Most experts agree on some theft prevention measures. While this list is not exhaustive, following these tips will definitely increase the security of your bicycles.
The following tips may not help to prevent theft, but if you find yourself in the situation where you are dealing with a loss, they could help you to recover your bike:
Being a student on campus often means that bicycles are your mode of transportation to class and around campus. Don’t fall victim to on-campus theft. Check out tips on the video below:
Finally, make sure your bicycle is properly insured by your home insurance provider. Don’t assume it’s covered. Check with your agent! Some policies exclude bikes unless you specifically add them. Other policies have limits on the amount they’ll pay for any one bike, which can be increased if necessary, or they may require some sort of receipt or valuation on file showing the replacement cost of the bike prior to the loss.
Discuss how much it would cost to replace your bicycle with your insurance provider and make sure you also consider any upgrades or add-ons, or customizations you have done. Any valuations or receipts they require would need to be on file with them prior to the loss. You will want to confirm your bicycle coverage is for the full replacement value of your equipment and discuss any deductibles that may also apply.
Hopefully these tips help keep our bikes safe! Be especially alert during summer months as these are the busiest times for cyclists, and unfortunately, also for thieves. For more information on preventing bike theft, or to get a quote on your home insurance, contact Square One at 1.855.331.6933
Even when you take precautions, accidents can happen. Home insurance is one way to protect your family against financial losses from accidents. And, home insurance can start from as little as $12/month.