Thankfully, when I lived in London for six months back in 2004, my bicycle was always by my side and never had to be locked to a post or a fence. In yesterday's Guardian, the number of bicycles stolen annually throughout England were outlined. A staggering 439,000 per year, or as the article states, one every seventy-one seconds. The values of these bicycles (when converted to dollars) combined is just over $291,000,000. This amount works out to be just over $660 per bicycle.
A great quote to consider from the article is from an insurance agent, who stated, "it may be worth considering spending a little more money for a high security lock that might stand a better chance of deterring a thief."