They say that one has to invest 10% the cost of the bike on safety locks. Even in cycle-popular nations of Europe, US and Australia, bicycle theft is rampant. Here in India, due to the low cost of the cycles and the falling popularity of cycles to automobiles, they were not the favorite items for thieves. Even if a cycle was stolen, it was not worth looking for it or reporting to police. It was cheaper to buy another.
However, with high-end 50K bikes hitting Indian roads, games have changed. Thieves are active again. I have gone in for Kryptonite locks and Flex cable system to protect all my Connandales and Trek from street robbers. Specially made for cycles and bikes, they offer the best in industry for securing the cycles. Kryptonite locks are not bulky and offer excellent value for money. Kryptonite Flex Cables are slim and not curly. Hence, they are easy to thread through the wheels,frame and the saddle. They are adapted for daily use on cycles. There are even specialized transportation brackets for these locks. Hence, they can be carried easily and used for every ride.
The locks are so strong that the thieves may cut the cycle, not the lock!
Remaining pro-active is better than re-active. Protect what defines you!