This summer, watch out - there's a bike thief about

AA Insurance has warned of a peak in the number of bikes stolen as summer approaches and more people take to two wheels in credit crunch Britain.

Bike sales have surged in recent months as credit crunched Brits seek cheaper ways to get around town. And  June to October is traditionally the busiest time of year for cycle theft.

So insurer AA has issued a warning that bike thefts are set to boom in the months ahead. Speaking just after David Cameron’s bike was stolen for the second time in 10 months, Simon Douglas, director of AA Insurance says: ““We could see a Himalayan peak in cycle theft this summer as the recession makes the bike an ever more sought-after item.

Around 300,000 bikes are stolen every year in the England and Wales, of which only 5% are returned to the owner.The cost of a stolen bike can be reclaimed on home insurance if the policy extends to personal belongings outside the home.