Insurance Approved Bicycle Locks

Insurance Approved Bicycle Locks

When you take out a specialist bicycle insurance policy, most insurers will require you to have an approved lock which must be in use and deployed in the required way, for theft cover to be operative.

Why do insurers require approved locks?

Bicycle theft is a large problem for insurers, and a source of major inconvenience if you rely on your cycle on a regular basis. Most thefts are from opportunist thieves that happen to pass by a cycle whilst it is chained up unattended. However, increasingly thieves are becoming more daring, and targeting bicycles at home whilst they are stored in an outbuilding such as a garage or shed.

Whilst no lock can guarantee that a cycle will not be stolen, an approved lock will likely to be of better quality and will have passed certain tests, this will usually mean that a thief will have to take more time in removing the lock (normally by cutting) before they can release the bike. This may, in a crowded location, such as a public place, deter them from stealing your cycle. The better the quality of lock, the more time and better equipment a thief will need to remove it.

How are locks approved?

Most insurance companies use “Sold Secure” ratings, although you should always check with your own individual insurer which approval rating, they require.

Sold Secure were established in 1992 by Northumbria and Essex Police with the help and backing of the Home Office and are now owned by the Master Locksmiths Association. Manufacturers can send their locks (voluntarily) to Sold Secure for rating, a series of tests are conducted, and if the device passes, it will be awarded one of four ratings. These are as follows

• Bronze-Bronze locks offer theft resistance against a basic tool list and are really aimed at preventing an opportunist thief who is not properly equipped to break a lock (sadly nowadays many thieves are going out with increasingly sophisticated tools to aid them in defeating locks)
  
• Silver-Silver locks offer better protection than bronze against an enhanced tool list and a more determined attacker.
  
• Gold- Up until recently Gold was the best standard of lock but has now been overtaken by Diamond, Gold locks offer theft resistance against a dedicated tool list and a determined attacker
• Diamond- This is a relatively new level of protection and is the highest level of theft resistance including use of specialist tools (aimed at preventing the most destructive attacks that could include angle grinders)

How is it decided what rating of lock an insurer requires?

Most insurers base their requirements on the value of the bicycle, the more valuable the cycle the higher rating that will be required. When you shop for a Sold Secure rated lock, you can sometimes obtain a higher rated one at a price that is not too much more expensive than a lower rated one. It is always a good idea to obtain the best quality lock you can afford, even if its standard surpasses that required by your insurers.

Shopping for an Insurance Approved Bicycle Lock

Approved locks can be easily obtained either online or via your local cycle shop. However, be careful when shopping for a lock as manufactures of locks that have not been approved are often aware of the ratings and will brand their devices accordingly. Just because a lock says on the packet “Gold Standard” does not mean it has been tested and approved by Sold Secure. Some manufacturers also have their own rating system and as mentioned, you should always check with your insurance company as to whether a cycle lock will be acceptable to their policy terms and conditions.

We would suggest that you do research online starting by reviewing Sold Secure Insurance Approved Locks

As well as cycle locks, we would also suggest that you view additional security devices such as ground anchors, more and more thefts are now taking place from outbuildings such as garages and sheds and a ground anchor which may or may not be an insurance company requirement can prove to be a further deterrent.

If you require assistance in determining what lock you require to be insured by Assetsure, please review our Assetsure Guide to Locks or telephone our office.

Need a quotation? In most cases, we are happy to provide a bicycle insurance quotation online.