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The British Crime Survey reports that 439,000 bicycles were stolen in 2005/06. Steadily increasing up to 2011
Keep hold of your bike by following this advice;

When buying a bike, allow for security locks.

Take out insurance, either by extending your home contents insurance or through a separate policy. Cycling organisations and bike shops may offer specialist cover.

Do this at the time of purchasing the bike, otherwise you may not get around to it. Be safe, Be secure!

Record and register your bike details.
Register your bicycle model, make, colour and frame number. This assists the police in returning recovered bikes to their rightful owners. Contact your local police station for further advice. Some offer marking free of charge.
Take a clear, colour photograph of your bike and make a written record of its description, including any unique features, so that you can report it accurately if stolen.

Security mark the bicycle.

A number of proprietary marking and tagging systems are available. To be effective a security marking must:

Be clearly visible – advertise that the bike is security marked or tagged. For example, attaching a clearly visible label is a simple option.
Be secure – for example, by using a tamper-resistant label, etching, etc, or an inaccessible electronic device.
Be placed in at least two separate locations, preferably on or in the frame. At least one of these locations should not be clearly visible, ie: inside a wheel is a great place!
Give clear information via the visible mark (label, etching, etc) that will quickly allow police to identify the method of security marking or tagging (and where applicable the registration company), and through this identify the owner. Crime Prevention Officers (CPO'S) or security marking companies can advise if you are not sure what information to include.

Bike theft from home.

Nearly half of all bicycle thefts take place from an owner’s home. Simple crime prevention methods can reduce your chances of having your bicycle stolen.

Keep your bike in a secure garage or shed and keep the door locked.
Keep it out of public view.
Secure it to an immovable object or consider installing a floor or wall-mounted anchor lock for extra security.

Out and about

Leave your bike where a potential thief will have to perform in public! Under a street light, shop or similiar.
Please park your bike safely and considerately. Make use of cycle parking stands where these are provided. Park your bike where it will not be a hazard, obstruction or inconvenience to other pedestrians – particularly the visually impaired and other disabled people. Allow space for prams and wheelchairs, other cyclists or occupants leaving motor vehicles. Never park in front of a fire exit.
If yours is a very expensive bike, don’t lock it in the same place on a regular basis – so it won’t be noticed and stolen to order. Think Theif !

Security

It may seem like there are lots of things to think about when locking your bike, but once you get into the habit you will be able to lock your bike within seconds and it will be well worth the trouble!

Always lock your bicycle, even if you are just leaving it for a couple of minutes.
Lock your bike to an immovable object. Use a proper bike rack/ground anchor or robust street furniture – for example lamp posts or railings (but observe requests not to use certain items of street furniture and be sure not to cause any damage). Remember that thieves can remove drainpipes and lift bikes off signposts. If provision is inadequate, bring this to the attention of the relevant local authority or property owner.
Lock your bike through the frame.
Secure removable parts. Lock both wheels and the frame together. Take with you smaller parts and accessories that can be removed without tools, for example lights, pumps, computers, panniers and quick-release saddles, or fit security fasteners on items such as wheels, headsets and seat posts.
Make the lock (and chain, if used) and bike hard to manoeuvre when parked – to stop thieves smashing the lock open.
Keep the lock (and/or chain) away from the ground.
Keep the gap between the bike and the lock small.
Never leave the lock lying on the pavement – a lock can be sledgehammered easily when it’s resting on the ground.
Locks can also be picked, so face the lock towards the ground (but not resting on it) so it can’t easily be turned upwards for picking.

Locks

There are many different products on the market and price is not necessarily a reliable indicator of quality. The most important factor is how long the product can resist attack.

You should look for products that have been tested against attack. Check out www.soldsecure.com for certified locks, or ask your local bike shop for a recommendation. Check the packaging for more information.
To guard against the opportunist thief you need a product that has resisted attack for one minute.
To guard against the determined thief you need a product that has resisted attack for three minutes.
To guard against the dedicated thief you need a product that has resisted attack for five minutes.

Invest in a good quality bike lock. Hardened steel D-shaped locks are recommended as the minimum standard. It is worth spending proportionately more on a lock for a more expensive bike. You can ask for free advice from any locksmith from needalocksmith.com.

 
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