According to data from the Metropolitan Police, almost £57,000 of tools were stolen every day in 2020, £17.5m in total.1 While London is the hotspot for tool theft with 55% of tradespeople having equipment stolen in the past year, this is followed by the West Midlands (33%), North East (28%), North West (25%), and East Anglia (23%).2
An average of 20,000 individual cases are reported to police forces across the UK each year. Thieves are 10 times more likely to steal powered hand tools than non-powered hand tools, with 32,067 taken from 2019 to 2021, compared to 2,993 non-powered hand tools.1
But these figures are not the only cause for concern. The way tool thefts are carried out has evolved; this is where tradespeople are being caught out.
It's not uncommon for tools to be stolen from vans during daylight hours while contractors work on-site or even while parked outside wholesalers.
The fact is thieves are opportunists. They will take whatever is easily accessible whenever they see the chance: from boxes of tools to electronic devices and power tools. A van break-in puts the average tradesperson out of work for 30 days and costs them £5,982 in missed jobs, on top of the cost of replacing tools and materials.3
As a contractor or the owner of a contracting firm, you'll likely have security measures in place to protect your tools and equipment overnight. However, it's worth investing in some additional security measures to protect your work tools and vehicles throughout the day:
As well as using additional security products, remove your tools from your van each night. Although some insurance policies can cover tool insurance in vans overnight, it's better to eliminate the risk in the first place and avoid having to make a claim.
More than 43,000 vans were stolen in the UK between 2016 and 2020.4 With the rise of skeleton keys and other technologies designed to override security systems, van theft is pretty easy. Here are some tips to keep your van safe:
You wouldn't think of taking on a job without the right tools; they're essential to your work. Equally, it's essential you have the right insurance to protect your tools against theft.
Here are few things you should think about when arranging your tools insurance:
If any of your tools are stolen from your van, follow these steps:
Your insurance can help protect against the cost of replacing your tools in cases of theft. However, having robust security measures and procedures in place is the best way to protect your essential business equipment.
If you would like any advice on the different policies and what they mean for you, speak to our contractors insurance experts.
Source:
1 https://www.theconstructionindex.co.uk/news/view/tool-theft-remains-a-daily-headache
2 https://businessvans.co.uk/van-news/the-cost-of-overnight-tool-theft/
3 https://www.commercialfleet.org/news/van-news/2020/11/18/more-than-a-third-of-businesses-hit-by-van-theft-logistics-uk-finds
4 https://www.whatcar.com/news/what-car-research-finds-four-in-10-vans-dont-come-with-an-alarm-as-standard/n20868
Get access to exclusive help, advice and support, delivered straight to your inbox.