Nationally, 69,908 motorcycles were stolen in 2007 which is a slight decrease from the 71,523 stolen in 2006. This represents a loss of over $434 million to motorcycle owners and the insurance industry. Motorcyclists often times lavish great attention on their cycles, from elaborate paint schemes and chromed parts to specialized frames and high-performance engines and exhaust systems. It's not uncommon for a motorcycle's base price to exceed $20,000 with aftermarket parts adding thousands of dollars more to the original cost. With recovery rates typically in the 25-30% range nationally, motorcycle owners need to take every precaution in protecting their investments."Stolen cycles are typically sold whole or stripped down in chop shop-like fashion for parts resale or reconstruction into another cycle," says Robert M. Bryant, NICB president and chief executive officer. "A key difference from other vehicles though is that motorcycle parts and frames can be more easily altered, reused and camouflaged than car or truck components, resulting in lower recovery rates for stolen cycles".
