Have you seen the recent statistics on bike theft these days? Studies show that over 1 billion bicycles are stolen every year from bike racks, driveways, parking lots, parks and playgrounds. Replacing a bicycle can get a little expensive after a while, so it pays to make sure they're covered by your homeowners insurance and you and your teen are doing everything you can to keep them right where they're at.

Rule number the first-make sure you've listed your teen's bike with your homeowners insurance carrier. Bikes are covered by most standard home insurance policies, even when they're away from home. That means if they happen to be stolen you can pick up the phone and call your insurance carrier, and they'll be happy to take care of the replacement.

Okay, so maybe happy isn't the right word, exactly. But they'll do it.

They can't cover what you don't have listed, however, and if you try to claim insurance for a bike your insurer never knew about you're going to get some funny looks-and more likely than not a rejected insurance claim.

Rule number the second-put your teen's name, home number, driver's license number and/or any other type of identification you can think of on their bike. Preferably permanently. This makes it a lot easier to identify their bike from the 500 models just like it that are floating around out there, and it's a lot harder to sell. That means it's less likely to be stolen, and if it is it's going to be much easier to get back.

Rule number the third-buy your teen a bike lock and teach them how to use it. It's going to be one of the first things your home insurance provider is going to want to know about your bike, especially if they're going to be going away to college. It's important to keep their bikes locked up any time they're not on it, no matter how long it's going to be parked. Remember, it takes less than a minute to steal a bike. A blink, a moment of inattention, and it could be gone.

Finally, rule number the fourth-register your teen's bike with the manufacturer and local law enforcement using your name, number and the bike's serial number, and make sure you have all that information sitting somewhere in your house. Again, this makes it a lot easier to get your bike back after it's been stolen, which is good news for both you and your home insurance carrier.

Bikes are prime targets for petty thieves, so it's important to be prepared. Touch base with your homeowners insurance provider and find out their rules for protecting your teen's property. It might be one of the best phone calls you'll ever make.