According to National Crime Information Bureau (NCIB), as much as $1 billion a year is lost nationwide due to theft of construction equipment and tools–and the recovery rate is less than 20 percent. The cost of stolen equipment goes beyond the cost of replacement. Contractors may need to move equipment from other locations to meet jobsite demands. Time spent filing police and insurance reports costs staff time, and if the equipment is used in a crime or damages personal property, the contractor may be liable.In Commercial Heavy Equipment Theft: Fraud Solutions Now, NCIB states, “Value and mobility are two key factors that influence whether or not thieves are likely to steal a piece of heavy equipment. Newer pieces of equipment are more likely to be stolen than older ones, and age, condition, and brand determine a machine's perceived value. Thefts also spike during peak construction months. Indirectly, their losses also cause costly job delays, downtime for businesses, and higher insurance premiums.”
Maintain an accurate inventory of equipment and tools in the fleet with the year, make, model, photo, purchase date, and full PIN/serial number. Stamp or engrave equipment parts with identifying marks, numbers or corporate logos. Consider painting equipment a bold color that stands out and can be easily identified from a distance.
Register equipment with the National Equipment Register (NER) www.ner.net.
Use locks and immobilizers. Immobilizers are effective on equipment that is left in remote sites or is unattended for long periods. Following are additional effective techniques.
According to NER, the top 10 states for equipment theft in 2013 are:
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