If you do find yourself unwittingly in the hands of items you suspect to be stolen, we offer the following policies. Those caught involved in these kinds of activities can be charged with “receiving stolen goods” and “larceny with intent to sell,” they note. Small tools (hammers, saws, etc., which are easy to carry hence why small tool tracking is important!Ī critical question is, what do thieves do with stolen tools? The NYU Dispatch notes that thieves steal the tools from hardware stores, then sell them in exchange for money or drugs to people known as “fences,” criminals who will then list these products online at much cheaper prices than in-store, on websites like Facebook Marketplace, OfferUp, and Letgo.Copper (exceeding $1 billion a year, according to the Department of Energy).
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On the other hand, WCC TV ranks the most commonly stolen construction items as: Reported in the above-mentioned Construction Index report, thieves are 10% more likely to steal powered hand tools than non-powered hand tools, they report, accounting for 32,067 (power tools) from 2019 to 2021 when compared to 2,993 hand tools. What Are the Most Commonly Stolen Construction Items?
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How to protect your tools: Smart tools, particularly tool lockout functionality.How to stop tool tool theft: Anti-theft devices for power tools, both for at HQ/tool cribs and in transit/on the job.What are the most commonly stolen construction items?.In this article, we discuss power tool theft protection, how to protect your tools and stop tool theft, as well as what to do when tools are stolen and how to track stolen tools. Preventing stolen tools is thus ever important to keeping budgets in check and projects moving along as expected.īut what do you do when tools are stolen? What’s more, the same study found that 4 in 10 (38%) had fallen victim to tool theft in the past, a growing threat with 56% reporting they leave equipment in their vehicles overnight, and 59% not carrying specific insurance to cover the event of tool theft. Direct Line reports that £83 million worth of tools have been stolen across England and Wales between 20, while £245,893 worth of tools have been reported as stolen from vehicles every day across the UK since the easing of lockdown in April 2021, according to a more recent report. A tool had been stolen from a tradesperson every 17 minutes in England, Wales, and Northern Ireland since March 2021, according to analysis of police data from Direct Line business insurance. What’s worse, only about 1% of stolen power tools were recovered, they note. The England the Construction Index, citing police data, revealed £17.5 million worth of tools were stolen in London in 2020, representing a value of £57,000 stolen each day. The same report also suggests that, beside the expense of losses of materials and equipment, tool theft can often lead to construction project downtime (time spent filing police reports and insurance), resulting in costly project overruns as onsite productivity and project progress screech to a halt. A 2016 report conducted by the National Equipment Register in conjunction with the National Insurance Crime Bureau found that construction companies face losses between $300 million and $1 billion annually due to equipment theft.
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