Classic Motorbikes

Motorbike thefts and their effect on bike insurance

Bike theft is a major problem in the UK that is contributing to higher bike insurance premiums and frustration for thousands of honest bikers. Here we look at the extent of the problem and how bikers can keep their prized possession secure while driving down insurance premiums.

How big a problem is motorbike theft?

In 2000, more than 35,000 bikes (including scooters, mopeds and motorbikes) were reported stolen on the Police National Computer. This number has increased with the Motorcycle Theft Index, issued by the Home Office, reporting the number of motorbikes stolen at 50,591 in 2003. It is expected that this number will have grown further since the onset of the recession.

According to the Motorcycle Theft Index, theft rates for motorcycles are much higher than those for cars. In 2003, the theft rate for motorcycles stood at 37 per 1,000 compared to 10 per 1,000 for cars. What’s more, is that only 40 per cent of stolen motorbikes are recovered compared to 79 per cent of cars that are taken.

Which bikes are most likely to be stolen?

The Home Office report outlines that less powerful machines (with power below 125cc) are the most likely to be stolen. Those less than five years old are the most at risk with 85 of every 1,000 registered stolen.

Generally newer motorcycles are deemed more attractive to offenders and as security devices for new bikes have not advanced at the same rate as security for cars, they are not as difficult to steal. According to the Home Office, new, lower powered motorbikes are also often found in less affluent areas that suffer higher rates of crime. They are less likely to be kept in garages and are often owned by young people in large urban areas.

How does this effect motorbike insurance?

Motorbike insurers take into account a number of factors when determining premiums. These can include: the vehicle itself, such as its age and value; the owner’s claims history; mileage; and the owner’s personal circumstances such as their occupation and marital status.

Another factor considered is the owner’s address. If you live in a high crime area, particularly if there is a history of motorbike thefts locally, then chances are you will face higher insurance premiums.

Insurers also consider the level of security in place on the bike and where it is parked – the less secure your bike is, the more you will have to pay. Indeed the number of motorbike thefts also affects average premiums on a wider scale because the more insurers have to pay out on claims, the higher the costs they have to recoup from consumers.

How security can keep motorbike insurance premiums low

Keeping your vehicle secure and lowering motorbike insurance premiums go hand in hand. Most insurers offer discounts based on the level of security you have in place – consult your insurer about which devices earn the largest savings. Here are some ideas:

- Parking: Park in a garage overnight. When you’re out, look for designated areas where your bike will be in full view of a busy street or car park as this reduces the chances of an opportunist thief acting without getting caught.

- Physical security: You can improve the security of your bike with mechanical or electronic security. Mechanical devices include chains and bike anchors, while electronic devices include alarms and immobilisers. Thatcham is the industry standard, so look for Thatcham approved systems and devices. Ground anchors can also act as a good counter to thieves that operate by lifting bikes on to the back of a van.

- Security markings: Marking your bike makes it more difficult for a thief to dispose of and it is easier for the police to trace and return if they find it. Security markings include alpha tags, data tags, Suzuki secure markings and more.

Don’t forget that security is just one element of keeping motorbike insurance premiums in check – you can earn further savings by increasing your voluntary excess; paying premiums annually to avoid interest charges; and building up a noclaims discount. Use a comparison website to compare the deals available and ensure you’re receiving a competitive quote.