Construction Plant Theft: Is Your Site Secure? Do You Have the Correct Insurance?
According to recent research from Allianz, the number of plant theft claims in the UK has increased steadily over the past five years. This caused the construction industry in the UK to lose £800 million in 2017, through the theft and vandalism of plant and machinery. In Ireland, it is estimated that approximately €7.8 million worth of items were stolen from construction sites in 2017. In that same year there were 4,562 incidents of construction crime, marking a 35% increase on the figure for the previous year. More than €21,500 worth of construction tools and equipment is now stolen nationwide every day.
This stolen equipment can be used for many different purposes. Smaller items and tools are sold at car boot sales or online. Larger pieces of plant machinery can be exported abroad, either in its existing state or for parts. More recently, equipment such as teleporters and excavators have been used in ATM thefts.
What can be done to prevent these thefts?
An Garda Siochana and the Construction Federation are working together to prevent crime in the construction industry, with the launch of the “Secure It, Keep It” campaign. On the Garda website you can take the Checklist Challenge to see how secure your workplace is.
Here are some preventative measures and tips for keeping your site secure:
- Remove tools from vans and lock them securely away
- Special secure area on site for tool storage
- Install monitored CCTV and bright lighting
- Invest in tracking devices and immobilisers
- Install controlled entry and exit systems: turnstiles, swipe cards, etc.
- Keep the number of gates to site entrance to a minimum
- Mark tools and equipment (stamping, stencilling, etching) and take photos of all equipment.
What insurance options are available for plant, machinery and tools?
- A “Contractors All Risks” policy can cover “owned-plant” and “hired-in-plant” against damage, theft or attempted theft.
- An “Engineering Plant & Machinery” policy can cover specific items of plant on a named or blanket basis.
- A “Special Types Motor” policy can cover mobile plant for any claims arising out of third party motor incidents but can also can provide comprehensive cover including damage, theft or even broken glass claims.
- A “Tools in Transit” policy can cover small tools whilst in a locked van.
If you would like to speak about insurance options for your plant, machinery or tools, call us today 049 433 2944 or complete our online enquiry form.
Disclaimer: The material contained is this article is for general information purposes only and does not constitute professional advice.