13 September 2010

Half Of Student Cyclists Have Been The Victim Of Bike Thieves

Half of student cyclists at UK universities have been the victim of a bike thief, according to a survey by M&S Money*.

As students prepare to start the new academic year, the poll found that cycling is a hugely popular method of transport at universities.

An impressive 40% of students who took part in the survey said they will use a bike while at university. Cycling is more popular among men, with 58% of male students using a bike compared to 25% of women. 

The survey found that cycling has increased in popularity since the 80s. To mark the 25th anniversary of the launch of the financial services arm of M&S**, M&S Money also surveyed students who went to university in 1985 - only 27% of those students used a bike at university.

Unsurprisingly, theft of bikes has also increased since the 80s. Student cyclists in 2010 are a common target for thieves, with 51% of respondents reporting that their bike had been stolen. This compares to only 8% of students cyclists in 1985.

Despite the apparent high rate of bike theft, only 52% of students who took part in the survey said that they have insurance to cover their possessions whilst living in student accommodation this academic year.

M&S Money is reminding students that many people heading to university will not need to buy a standalone student policy and should check if their parents’ home insurance policy provides sufficient cover.

Students whose parents have M&S Premier Home Contents insurance enjoy unlimited cover for their possessions when away from home. This covers events such as accidental damage, flood or theft from halls. Customers with a Standard or Premier policy who have opted to cover possessions away from the home will be covered if a bike is stolen outside their property.

Andrew Ferguson, M&S Head of General Insurance, said: ‘Cycling has grown in popularity in the past 25 years as students want to save money and do their bit for the environment.

‘It’s wise to make sure you are insured in case your bike is stolen or damaged. Before taking out a separate policy students should check whether their parents’ home insurance policy covers their property when at university.’

M&S Money offers cyclists the following security advice:

• Register your bike model, make and frame number. Contact local police for advice.
• Store your bike in a secure garage or shed and keep the door locked.
• Avoid leaving your bike in isolated or dimly lit places.
• Always lock your bicycle, even if you are just leaving it for a short period.
• Secure removable parts: lock both wheels and the frame together.
• Inform the police if you have your bike stolen. This is important if making an insurance claim.

Marks & Spencer Home Insurance is available by telephone on 0800 068 2742 and online at www.marksandspencer.com/homeinsurance

ENDS

Notes to Editors

*Figures from OnePoll.  Total sample size was 500 adults attending university in 2010 and 500 adults who attended university in 1985. Fieldwork was undertaken 14-23 August 2010. The survey was carried out online.

**St Michael Financial Services was formed in 1985 to oversee the introduction of the M&S Chargecard, which was launched nationally in stores on 2nd April 1985.

For further information please call the M&S Money press office:

Simon Coughlin on 020 7992 1574
simon.coughlin@mandsmoney.com

M&S Money (the trading name of Marks & Spencer Financial Services) was founded in 1985 as the financial services division of Marks and Spencer Group plc, making 2010 the company's 25th anniversary.

The company is a top-ten credit card provider and the second-largest travel money retailer in the UK.  M&S Money also offers a range of insurance cover, including home insurance and car insurance, as well as loans, savings and investment products.

In November 2004, Marks & Spencer sold M&S Money to HSBC. HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 8,000 offices in 88 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,364 billion at 31 December 2009, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank’.

M&S Money has an executive committee comprising an equal number of representatives from HSBC and Marks & Spencer.

M&S Home Insurance policies are provided by AXA Insurance UK plc. Terms, conditions, exclusions and limitations apply. Calls may be monitored and recorded.