Last year, Lithuania's biggest insurer Lithuanian Insurance covered 30 percent more bike thefts than in 2010.
Insurer says that the targeted items reflect the lifestyle of Lithuanian residents.
"Targets reflect the changing lifestyle of the population. As the popularity of bikes increases, more of them are purchased. As a result, more of them are stolen. Increase in fuel prices and trendy lifestyle are just a few reasons encouraging people to ride bicycles," says Executive Manager of Property Insurance at Lietuvos Draudimas Andrius Gimbickas.
The average loss of bicycle theft stands at about 1,500 litas (434 euros). However, every year it increases because people purchase and insure more expensive bikes.
