Risk management strategies to lower equipment theft on construction sites

Weekend getaways are enjoyable, but it could be hard to really relax if you’re worried about building project equipment going missing. Our company’s business is protecting your business, and we can assist you lower the probability of an expensive claim by offering some advise on how to manage the risk of equipment theft.

Strong demand and delayed production supply make equipment theft a persistent concern for contractors and building organizations. Consequently, losing equipment might interfere with your work schedule and cause delays in upcoming projects, which can have an impact on your own and your employees’ capacity to make a livelihood.

prolonged weekend losses

Given the correlation between extended weekends and equipment theft, extended weekends present unique issues. When contractors return to the project site after three days off, they frequently find that criminals used their extra day off to look into jobsites and shop for equipment.

It is especially important to take extra precautions to keep your equipment safe on weekends and holidays. The following advice can help lower the chance of equipment theft:

• Avoid packing too much. Small tools and equipment should be bundled up and kept in your shop or yard where you can keep an eye on them because small items can be removed fast.
• Park sensibly. Move the tool and equipment trailers to a place where you can readily keep an eye on them, rather than at the project site, where they are a prominent target for thieves.
• Stay bright. If you must keep huge equipment on the premises, ensure sure there is adequate illumination.
• Shut down. Install shut-off devices, battery switches, ignition locks, and stealth deactivation switches.
• instruments for labeling. Equip tools with GPS monitoring systems.
• Watch out. Install cameras or consider hiring protection for long weekends. Even while hiring a watchperson for every weekend and night is ideal, most people might not be able to afford it.

Lower your risk to gradually save money.

The long-term cost of putting the following advice into practice will probably be less than the expense of losing this equipment, even if it may cost your company more initially. Additionally, it’s possible that your insurance company may want you to ensure that the proper theft-prevention measures are implemented.

In relation to insurance, some may refuse to pay out for any equipment theft if it is found within 30 days of the theft. It could therefore take some time to process a claim for the loss of tools or equipment.

It’s critical to prevent theft of your equipment. You may ensure that business activities carry on as usual and focus on growing and creating a successful organization by implementing preventative measures.

Safeguard your equipment with assurance.

Focus on growing your business without concern! Speak with a professional insurance agent for additional details about contractors insurance and the value-added services it provides, such as risk management strategies that help protect your business.