529 is a community initiative supported by Sundays Insurance. Learn more.
Cost of Bike Theft Calculator
How much does bike theft cost your community?
$4,992,904 per year
Impact on your community
Impacted cyclists
4,125
Property loss
$4,923,360
Cost to your agency
$69,544
Lost bike shop revenue
$1,307,625
Lost tax revenue
$xxxx
Loss of cyclists
289
Fewer rides
23,034
529 Garage results
Number bikes saved
77
Value of bikes saved
$76,550
Agency savings
$13,098
529 Garage Subscription
$NaN
Bike shop savings
Cyclists saved
Rides saved
Here's how we calculated the numbers. You can fine tune our calculations for your community below.
How we calculate the number of cyclists, bikes and rides
Population
% of people with bikes
Bikes per person
Rides per person per year
Total riders
37,500
Total bikes
38,250
Total rides
2,991,375
How we calculate number of stolen bikes
Number of bikes in your community
38,250
Reported theft rate
% of bike thefts that go unreported
Number of bikes reported stolen per year
383
Number of bikes stolen per year that go unreported
3,825
Total bikes stolen per year
4,208
Impacted cyclists
4,125
How we calculate property loss
Number of bikes stolen
4,208
Value of bike
Value of accessories (bells, lights, bags, etc.)
Value of a lock
Total
$4,923,360
How we calculate agency cost
Number of bikes reported stolen
383
Number of unreported stolen bikes
3,825
Average salary of an officer
Number of hours to take a bike theft report
Hours to recover, process, store, dispose/return a bike
Percentage of bikes impounded
Total bikes impounded
421
Total annual agency hours
1,646
Total annual cost
$69,544
How we calculate bike shop lost revenue
Impacted cyclists
4,125
Purchase price of replacement bike
$800
Victims that stop cycling
289
$231,000
Replacement bikes purchased on black market
516
$412,500
Replacement bikes purchased at a bike shop
3,321
$664,125
Total lost bike shop revenue
$1,307,625
How we calculate 529 Garage impact
Reduction in bike theft
Theft report hours saved
72
Impound processing hours saved
238
Agency hourly rate
$42
Total agency hours savings
310
Total agency savings
$13,098
Sources
