It looks like the big national bike boom that started during the early Covid lockdowns looks set to continue as more and more people turn to two wheels on entry level or lower value bikes.
That’s according to specialist cycle insurer Bikmo – the firm’s data for 2021 shows the number of claims rose 8% on the previous year, and 57% of claims were for bikes and bicycles. equipment worth less than £500.
These figures represent a huge change from 2020, when the highest percentage of claims (33%) was between £1,000 and £2,500.
The number of commuter bikes, including e-bikes, covered by the insurer has also increased significantly in 2021, which Bikmo says is due to people returning to their workplaces and looking for “a way more durable and more convenient to do so”.
Of course, as the popularity of cycling continues to rise, so will the number of thefts – stolen bikes and equipment accounted for 53% of claims in 2021, up from 48% in 2021.
“2021 has been another huge year for cycling as more and more people have gotten out and experienced the convenience and joy of traveling by bike,” said Bikmo CEO David George.
“As cycling continues to grow in popularity, we will inevitably see that theft will continue to rise as the main reason for bicycle-related claims.
“However, with the increase in long-lived tracking technologies such as the AirTag and e-bikes which can both power and store tracking devices, we hope the UK will follow the experience of Netherlands where up to 80% of tracked bikes that are stolen are recovered.