Tackling tool theft

HSB shares its latest guidance on tool theft in the construction industry. 

Tool theft has been a longstanding challenge in the construction industry and is now prolific due to the continued high cost of living. According to recent research from On the Tools, three in four UK tradespeople have had their tools stolen and 86% worry about tool theft.  

Small tools, such as portable power tools, survey equipment and hand tools, are particularly susceptible to being stolen from construction project sites and vehicles as they are seen as easy targets and can be sold on quickly. 

Reducing the risk of tool theft 

Implementing robust site security measures, marking all tools and equipment with distinctive markings to aid their recovery, together with increasing theft prevention measures in vehicles can all help to reduce the risk of theft. Given the notable increase in theft from vans, it’s vital to keep small tools and equipment out of sight by installing mirrored or blacked-out windows and only transporting and storing items that are required for the day. 

Finally, by promptly reporting all instances of theft to the police and relevant construction organisations, law enforcement can understand the full scope of the problem, identify patterns, and allocate resources to combat tool theft. 

Aiding recovery and claims 

Tracking and marking tools with a unique identifier, such as a livery, offers evidence to prove that a theft has occurred; improving the chances of recovering the equipment. Fitting GPS and RFID tracking devices with built-in immobilisation will also alert owners if their tools or equipment are moved. 

To improve theft recovery efforts, all construction small tools and plant equipment should be registered with the Micro CESAR Scheme – the official marking and security scheme of the Construction Equipment Association. CESAR technologies act as a deterrent against theft and significantly improve the chances of recovery in the event of the item being stolen. 

Types of insurance which cover stolen or damaged tools 

There are policies which provide peace of mind and recognise the dependency tradespeople have on a wide range of tools, plant and machinery. Covers exist to protect contractors’ machinery and tools, whether owned or hired, from theft, damage, or loss and can be purchased on a single, short-term project or annual basis. Given that stolen construction equipment is often not recovered, this is a vital consideration for tradespeople.  

There are also specific insurance policies which provide comprehensive cover for tradespeople against various risks that can arise throughout the duration of the projects they are working on. This includes providing protection against theft, loss or damage to a contractor’s tools, plant and equipment within the territorial limits of the policy, in addition to covering the cost of hiring additional tools to replace those lost or stolen.   

HSB provides Contractors’ Plant insurance and Contractors’ All Risks insurance. For further information, please click here to contact your local HSB Development Underwriter or Strategic Account Manager. In addition, HSB’s brief guide to loss prevention aims to provide best practice recommendations for preventing the theft of small tools and equipment.  

 

This article has been written for Hedron Network by our partner insurer HSB. The content reflects the views and expertise of the respective contributors and is intended to offer insights on current industry topics. Please note that this article does not necessarily represent the views of Hedron Network or its affiliates.