Nearly one fifth of insurance claims made from people who live in the capital relate to the theft of mobile phones, according to a study carried out by Protect Your Bubble.
Smartphone theft was the cause for a staggering 18 per cent of claims made in London, with Leeds just behind on 16 per cent.
What's more, users in their early 20s were most likely to be targeted by thieves.
"Gadget owners can never be too cautious," said Stephen Ebbett, the director of Protect Your Bubble. "Everyday we cart around hundreds, or even thousands of pounds worth of high-tech gear, such as smartphones, tablets, cameras and e-readers. This makes many of us prime targets for thieves."
However, phone thefts seem to be becoming increasingly isolated incidents. Last year, it was reported that a jaw-dropping 300 mobile phone robberies happen in London everyday.
"The good news is that we're seeing mobile thefts drop," continued Ebbett. "So far, nine per cent of mobile claims we've received in 2014 have been for theft, compared to 11 per cent for the same period last year."
Read more: What to do if your Apple iPhone gets stolen
Ebbett also offered some advice for mobile phone users.
"People can reduce their risk of being targeted by keeping their mobiles out of sight in public. Carry them in a pocket or bag with a zip, rather than your trouser pocket, or in your hand."