Gotta Love A Tool: 5 Tips from an Equipment Thief : Dear Insurance Agent...
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Gotta Love A Tool: 5 Tips from an Equipment Thief

by A. Montalbano on 01/24/17

Theft is no laughing matter for the insurance industry but there are ways to combat criminal activity surrounding your construction equipment.  A great craftsman is as good as his tools.  But when tools and equipment are stolen, a project is delayed and your insurance rates climb.  As an insured, you have an obligation to add security before something happens.  Be a step ahead of criminals scoping your project site.

Tips from the Thieves (irmi.com)

What would thieves say if forced to reveal what is on their minds when planning a theft?

  1. They most fear getting caught when stealing, storing, or moving the equipment. The risk of getting caught when selling the equipment is considered low because owners usually do not record serial numbers, buyers of used equipment tend not to check titles, and even with leads, it is difficult for police to identify equipment and link serial numbers to owners.
  2. Sites tend to either well secured or not—some times the work site is impossible to secure or the contractor lacks the care associated with his project site. There is plenty of  "poor security" to keep thieves in business for years. It is not necessary to be 100 percent secure, but to be better than average, keeps thieves opting for the less secure sites.
  3. There is no point in setting up security procedures that are either too complex or not regularly checked, as thieves will just watch and wait until security starts to decline.
  4. Employees of your firm and other local firms are both your best allies and biggest risks. They are the ones who will usually be responsible for the implementation of security and may even know something about a theft. They could be the ones that let thieves know about poor security. The key is to give employees incentives to help rather than hinder.
  5. If you don't record your serial numbers, you can forget about getting your equipment back. Even if recovered, you still have to prove that it is yours. Better yet, ways of making this information readily available to law enforcement is by using signs and decals to let the thief know is has been done.


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