Bicycle theft cost Belgian insurance companies more than 23,000 euros per day in 2021

While more than 75,700 bicycles were stolen in Belgium last year, only 8% of Belgians have bicycle insurance, insurance broker HelloSafe reveals in its new survey. However, with 207 bicycle thefts per day, this scourge has increased by 5.7% between 2020 and 2021 – although it is still 14% lower than the pre-Covid period.

Flanders alone accounts for almost 73% of bicycle thefts in 2021 (55,546), thus remaining the most “criminal” region at this level.

A significant cost for everyone

In 2021, bicycle theft cost insurers in Belgium €8.7 million, or almost €23,891 per day – 92% of this amount relates to e-bike theft (i.e. €8 million). Owners of e-bikes are actually more likely to take out bike insurance: they represent 80% of the insured.

The compensation provided in case of bicycle theft by insurance companies varies on average between 1.44 and 14.85 euros per insured person in Belgium. The three provinces where the compensation per insured person is the highest, are the provinces most affected by the sad phenomenon: Antwerp, East Flanders and Brussels. Note that they are also the most densely populated.

On the other hand, insurance companies pay less compensation for bike theft in the Walloon provinces.

It is obvious that these compensations are symbolic, however, if we compare their amount with the price of bicycles. According to figures from Traxio, the Federation of the Mobility Sector, the average price of a classic bicycle is 794 euros in Belgium. A figure that rises to 2,200 euros for an electric bike.

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