Dry Lining Contractors Insurance: Essential Coverage for Your Business
In this blog post, we'll explore the ins and outs of Dry Lining Contractors Insurance, shedding light on why it's essential for your trade business.
With over 40,000 instances in 2022, an LBC investigation has shown the appalling scale of tool theft in England and Wales.
As an avid trade insurance provider, we wanted to share the news from the data and also show how you can easily protect your trade business from being the victim of tool theft. On top, we'll share some best practices for avoiding tool theft in your area.
According to research by the UK's largest online construction community, On The Tools, four out of five tradesmen and women have suffered tool theft. Essential items are frequently taken from the vans, garages, and sometimes homes and office units of independent contractors in the trades.
Overall, there were well over 40,000 cases of tool theft reported in 2022. According to statistics from 25 of the 45 territorial police departments in the UK, at least 110 tools are taken every day.
With nearly half of all cases reported in the Capital, London is particularly impacted by the astonishing volume of crime. Additionally, unusually high case counts were reported in Gwent, West Yorkshire, Essex, and other places last year.
According to data from On The Tools, tool theft costs the typical tradesperson £4,470.50 in equipment. LBC's study reveals that during a cost of living crisis, tradespeople may be losing over £100 million in tools, which is shocking!
Wondering what some of the top stolen tools are?
LBC's statistics were deemed "devastating for tradespeople" by Andy Trotter, a former senior assistant commissioner with the Metropolitan Police. He was quoted as saying:
"The impact is enormous, especially when people are going through a very difficult economic time," he continued. "The police have a huge challenge to solve."
Mr Trotter also commented on the low charge rate by saying, "It's a symptom of extraordinarily poor detection rates across the board... Resources have been drained from the police - a sorry state of affairs indeed.
On top, a representative of the National Police Chiefs Council told LBC that "we recognise how intrusive and traumatic it is to have your items stolen, or to have a van broken into, and that tool theft frequently affects the victim's ability to work."
"Because there are limited forensic opportunities, tool theft investigations are challenging. We will keep up our efforts to stop tool theft, and we encourage victims to contact the police."
Your trade tools make or break your livelihood. Without them, you couldn't do your work and would lose out on precious income! No matter the difficulties, if someone wants to steal your property, they will probably do their best to make it happen. Have no fear; there are some ways to prevent your tools from being stolen:
For a more detailed approach to best-preventing tool theft as a tradesperson, read our helpful blog on how to recover your tools.
Tool Insurance with Rhino Trade Insurance offers an affordable way to protect your vital weapons! Our tailored policies can protect you if your tools are stolen or damaged. Adding this cover to your insurance policy has plenty of advantages:
As an insurer specialising exclusively in the trades, our team of knowledgeable trade insurance professionals can offer unrivalled expertise and experience. We customise our insurance to meet the needs of your business, and we're always looking for the best ways to keep our costs low and the quality of our coverage high.
For more information, contact Rhino Trade Insurance at 0116 243 7904 or go to our website to use our handy online quote generator, which makes it simple to get a price in just 60 seconds.
In this blog post, we'll explore the ins and outs of Dry Lining Contractors Insurance, shedding light on why it's essential for your trade business.
In this post, we're going to dive into the world of smart devices and explore 10 game-changers that you should be offering your customers. From smart thermostats to wireless security cameras, we've got you covered whatever your trade.
If you’re a self-employed ceiling and partitioning installer in the UK, you need insurance. Some insurance policies are required by law, some are regulatory requirements, and some are just plain common sense.
Tell us your trade and get a tailored insurance quote for your business in seconds
Our team of experts are available to talk to Mon-Fri 08.30-17.30 and Sat 10.00-14.00