Theft on plant, machinery & tools is growing. Plant & tool hire companies are experiencing a growth in thefts due to thieves and fraudsters learning the true value of the equipment. Over the last 5 years the number of theft claims has risen by roughly two thirds, according to insurance research. Below we’ll explore what areas are being targeted and what you can do to protect your tools and plant equipment.
Tools & Equipment thefts
Tools are the most theft attractive and this adds up to roughly a third of the claims received by the insurers. UK tool theft has increased to roughly two thirds from 2014 – 2017. Most instances are thefts from vans where either forced entry or the use of a skeleton key has been used. A skeleton key is a favourite of the thieves as this leave little to no damage and is easily brought online.
Due to regular thefts of tools the police are regularly checking selling sites such as eBay & Gumtree as they know there are hundreds of fraudulent accounts selling stolen goods online. If you are unfortunate enough to purchase some of these stolen goods you may end up losing your money & have to return the stolen items. On top of this most tool insurance policies will not pay out for theft claims if you do not have a receipt for purchase. Please be careful where purchasing tools.
Plant & Machinery theft
Tools however are not the only thing being stolen. The largest claims amount from larger items of plant and machinery such as excavators and telehandlers. These are often stolen off a building/contract site. There is also a large increase in regards to fraudulent hiring of plant from hire companies. The thieves are very clever these days and have access to fake identification, fake company details and addresses.
How The CPA Can Help
The CPA (Constructions plant hire associate) are trying to assist hire companies by having them have some terms and regulations in place of which is designed to help prevent fraudulent hires taking place. This requires an annual membership of which can be applied for at https://www.cpa.uk.net/.
Here at Coversure Ilkeston we are a corporate member of the CPA which helps us obtain great rates and cover with some of the largest plant/machinery insurers across the UK. Please get in touch so we can give some advice or alternatively looking for another quote at your renewal date.
PANIU: Assisting With Tool and Plant Crime Prevention
In response to the outbreak in crime PANIU (Plant and Agricultural National Intelligence Unit) have released two documents to provide advice on how to prevent theft and a form that can be circulated via PANIU to other police forces.
How To Protect Your Equipment If You’re Not A CPA Member
If you are not a member of the CPA we would recommend the following in order to prevent thefts against your equipment or business:
- Install trackers/immobilisers to all owned/hire out plant. (this may lead to a lower theft excess with certain insurers)
- Make sure when not in use, not left in sight of general public and kept secure in a safe location.
- Insurers love security so if on site, is it possible to have perimeter fencing & CCTV
If you are not a member of the CPA we at Coversure Ilkeston can still obtain a quotation for your plant & machinery insurance. Please get in touch so we can discuss this over the phone on 0800 308 1234 or via email at firstname.lastname@example.org.