In 2016, the National Equipment Register reported theft was more abundant than vandalism, fire, water and hail damage combined and estimated the value of construction equipment stolen each year is between $300 million and $1 billion. That estimate is for equipment only and does not include tools and building materials, which often are easy targets for thieves. Theft also can lead to lost productivity, schedule delays and increased insurance premiums.
Security cameras on job sites reportedly can deter theft and help recover stolen property. Of the 739 construction professionals surveyed for TrueLook’s 2020 Jobsite Security Report, only 24% of stolen goods were recovered in 2019, and job sites with cameras were more likely to recover stolen equipment through police involvement.
Motion alert technology can send an alert via text and email with a picture when motion on the job site is detected and indicate which camera was triggered so an individual can pinpoint where the incident is occurring. It also can track and record high-definition video.
According to EMC Insurance, job sites are most likely to be targeted when they are not actively staffed—most losses from theft and vandalism happen during weekends and holidays. Equipment also is more likely to be stolen during warm weather months (from April to September), peaking in May, June and July.
If you notice theft or vandalism, report it immediately to local law enforcement. Report stolen equipment to your insurer and the National Equipment Registry as soon as possible.
