The Rise of Tool Theft in 2023: Protecting Your Equipment

In a world where technology advancements continue to reshape our lives, tools remain an essential part of our day-to-day activities. Whether you're a self-employed tradesperson operating locally or a business owner managing an army of skilled professionals, the value of having quality tooling cannot be overstated. 

Unfortunately, there is a rising trend of tool theft in the UK. Tool theft is a real issue and is something that is showing no sign of slowing down. At Rhino Trade Insurance, we aim to shed some light on the growing problems surrounding tool theft and provide practical tips to help you better protect their valuable equipment.

The Alarming Increase in Tool Theft

Tool theft has become an increasing issue in the UK, impacting individuals and businesses alike. In fact, it's been found that tools are stolen, on average, every 15 minutes across the UK, which we consider a highly alarming statistic.

Criminals have realised the potential value of tools, which can be sold quickly via illegitimate means or shipped abroad. While it's difficult to pinpoint the exact reasons behind the surge in tool theft, several factors are indeed contributing to the rise:

• High resale value: 

Tools, especially those of reputable brands, have a substantial resale value. This makes them attractive targets for thieves seeking quick profits.

• Easy targets: 

Tools are often stored in vans, garages, or construction sites, making them vulnerable to theft. Moreover, many individuals fail to secure their tools properly, making them an easy target for opportunistic thieves. We found data that showed most tool thefts occurred due to the van doors being left unlocked.

• Limited tracking capabilities: 

Unlike electronic devices, tools generally lack built-in tracking features, making it harder to recover stolen items. This limitation further encourages criminals to target tools.

How best to protect your tools?

While it may be impossible to eliminate tool theft entirely, there are practical steps you can take to minimise the risk of your tools being stolen.

Here are some essential tips:

• Secure storage: 

Ensure that your tools are stored in a secure location, preferably in a locked toolbox or cabinet. If possible, store them in a well-lit area with restricted access, such as a locked garage, storage room or secure business unit. If you have to keep your tools in your van overnight, then make sure your van is locked, and is visible from your property.

• Mark and register your tools: 

Engrave or mark your tools with a unique identifier, such as your initials or a distinct symbol. Additionally, consider registering your tools with a national or local database, which can help law enforcement identify and recover stolen items.

• Toughen your physical security: 

Install robust locks, alarms, and security cameras in your workshop, garage, or construction site. Visible security measures can act as deterrents and make thieves think twice before attempting to steal your tools. You can even throw a 'no tools kept in this van overnight' sticker on your vehicle to act as a deterrent. 

• Strengthen vehicle security: 

Invest in additional security measures if you frequently transport tools in your vehicle. Install a sturdy lock on the vehicle's rear doors, and consider adding an alarm system or a GPS tracking device. Always try to park in well-lit areas or near surveillance cameras whenever possible, and try to block access to your rear and side doors when leaving your van.

• Be vigilant online

There is an increasing trend on social media to video yourself whilst at work. As fun as creating the next big TikTok can be, remember to stay cautious when posting visibility of your tools and where they’re kept on social media or online platforms. Avoid revealing specific details or sharing pictures that might attract unwanted attention from potential thieves.

How insurance can help

Rhino Trade Insurance caters to the needs of thousands of tradesmen and women with top-notch tool insurance. Having tools insurance is beneficial to all tradespeople who use them. It should go without saying that you need your tools in order to earn a living, so having cover in place to replace them should make perfect sense.

Rhino Trade Insurance offers tools insurance that will protect your tools from damage or theft when they are kept in your vehicle 24 hours a day. We have included some information about the policy in question below:

• Cover for damage or theft up to £7,500
• Protection against any repairs or replacement devices
• Overnight storage (dependent on security considerations)
• Immediate cover with prompt documentation
• Options for monthly or annual payments
• No monthly interest charges
• Available six days a week with UK phone assistance 

Hundreds of tradesmen and women currently have their tools insured by Rhino, so please consider having the right cover in place as a fail-safe should you fall victim to tool theft.

If you are interested in tools insurance, get a quote today or call the Rhino team on 0116 243 7904 to talk to one of their friendly insurance executives to get your tools and your business protected.