Bicycles, SUP boards, and boats costing hundreds of euros

Survey: Bicycles, SUP boards, and boats costing hundreds of euros – 75% of residents do not insure their recreational equipment 

The results of a survey conducted by the insurance company “BTA Baltic Insurance Company” show that 39% of residents have recreational equipment at home worth between 500 and more than 2,000 euros, yet 75% have not insured any of it. According to Ivo Danče, director of BTA Insurance’s Claims Department, even though people invest a lot of money in bicycles, skis, SUP boards, boats, and camping gear, the value of these items is quickly forgotten. Thieves are well aware of this, too – currently, one in three incidents involving recreational equipment is linked to theft, resulting in losses amounting to hundreds of euros. 

These days, recreational equipment is no longer just a single bicycle or a pair of skis in the family basement. Bicycles, e-scooters, SUP boards, skis, snowboards, skates, boats, fishing gear, and hiking and camping equipment in Latvian households often amount to several hundred or even thousands of euros in total value, yet too little attention is still paid to protecting them. 

39% of households have recreational equipment worth between 500 and more than 2,000 euros 

Survey data show that for more than one-third of respondents, the total value of this equipment exceeds 500 euros: in 11% of households, it is more than 2,000 euros, 12% have equipment worth between 1,001 and 2,000 euros, and another 16% have equipment worth between 501 and 1,000 euros. Meanwhile, 14% of respondents estimate the value of their recreational equipment to be between 301 and 500 euros, while 22% indicate that it does not exceed 300 euros. This means that in the event of theft, damage, or an accident, the losses for many households may not be a minor inconvenience, but rather a significant financial blow to the family budget. 

“The more diverse active leisure equipment becomes, the more important it is to understand where and how it is stored, transported, and used. Bicycles and e-scooters are often left in stairwells, courtyards, or at workplaces on a daily basis, while SUP boards, skis, snowboarding gear, and camping equipment are moved seasonally, stored in garages, or taken along on trips. In each of these situations, there is a risk of both theft and damage,” explains Ivo Danče, Director of the Claims Department at BTA Insurance and an insurance expert. 

Locks don’t protect – finding a stolen vehicle is like “looking for a needle in a haystack” 

In BTA’s experience, claims are most frequently filed for theft and various types of damage occurring during the use, transport, or storage of equipment. Over the past year, the total amount of claims paid out for such incidents has reached 13,225 euros. 

Claims filed for various types of damage account for 45% of all insurance claims paid, while theft accounts for approximately 34%. The largest insurance payout was 1,895 euros for the theft of an electric scooter in Riga. In this case, the thief broke the lock. 

“The places most favoured by thieves are often those that people consider safe. In our experience, there was a case where a child’s bicycle was stolen from a schoolyard, for which a payout of 1,340 euros was made, while in another case, a bicycle disappeared from the courtyard of an apartment building, where it had been locked to a fence. In this case, the insurance compensation paid to the owner amounted to 1,299 euros. In yet another case, a bicycle was stolen from the enclosed courtyard of an apartment building, where it had been locked to a bike rack, and the compensation amounted to 1,110 euros. All these vehicles are easy to resell, so without insurance, finding a stolen bicycle or e-bike is like “looking for a needle in a haystack,” says I. Danče. 

He adds that damage can also occur while using the equipment. For example, in one of the most significant cases, a bicycle frame was broken after the rider hit a pothole and fell, resulting in damages totalling 1,919 euros. 

Most often, recreational equipment remains uninsured 

Survey data reveals that only 17% of people have fully or partially insured their recreational equipment. Of those, 9% have insured all their equipment, while another 8% have insured only the most valuable items. Meanwhile, 75% indicate that their equipment is uninsured, and 8% haven’t even thought about it. 

This means that a large portion of the population still views their recreational equipment as seasonal or everyday items, rather than as possessions that should be protected with the same care as other valuable household items. At the same time, this equipment is often stored outside the living quarters – in basements, garages, sheds, stairwells, common areas, or cars. 

“What matters is not only whether the equipment is insured, but also how people take care of it on a daily basis. Bicycles or electric scooters should not be left unlocked even for a short time, while more expensive items should not be stored for extended periods in easily accessible common areas. It’s also important to keep purchase receipts, photos, serial numbers, and other information that can help prove the value of the item in the event of theft or damage,” reminds Ivo Danče. 

*The survey was conducted by BTA in collaboration with the research agency “Norstat Latvija” in June 2026. A total of 1,007 respondents aged 18 to 74 participated.