- Average value of equipment stolen from each van more than £1,700
- 15,400 individual cases reported to police forces across the UK, as 41% of van drivers continue to leave equipment in their vans overnight
- This means UK businesses face a £1.64 billion bill in lost equipment
- With the majority (57% of tool theft victims) forced to take unplanned downtime, the impact of tool thefts extends far beyond replacing equipment
TOOL theft continues to blight SME traders and builders with 1 in 5 (19%) van drivers falling victim to theft last year.
The alarming figures were revealed by Volkswagen Commercial Vehicles research, which reported that although there had been an improvement on the number of van drivers reporting incidents of tool theft year-on-year, a Freedom of Information request revealed that as many as 15,464 individual cases were reported to police forces across the UK. It confirmed the sickening and ongoing prevalence of the issue.
With the research indicating that the average value of stolen equipment per van stands at over £1,700, this means that UK tradespeople are facing a bill of up to £1.64 billion in stolen equipment.
In spite of these risks, 41% of UK van drivers continue to leave equipment in their vehicles overnight – over a third (37%) of whom confess that the value of tools left in their van exceeds £2,000.
Stories Abound Of Tool Theft On LinkedIn
At Fleet & Leasing.com we’re seeing more and more commentators on LinkedIn, the social media site for professionals, reporting the huge impact tool theft has on their business. Typical is this from Ben Atkins, Managing Director of Coventry-based Facilities Management Services UK Ltd:
The Financial Damage Of Vehicle Downtime
The impact of tool thefts on UK businesses stretches beyond replacing equipment, though, with the majority (57%) of respondents unable to work while their vans are re-stocked, locks repaired and other damage seen to, as well as further risk of an increase in future insurance premiums for van owners who are on the receiving end of tool theft.
With downtime costing companies an estimated £550 a day per van, at a time when UK businesses are already feeling the squeeze, these costs underscore the significant disruption that tool theft can bring.
Keeping Vans Secure
To help van drivers protect their vehicles, Volkswagen Commercial Vehicles says it offers a range of solutions to keep their van secure which included an anti-theft alarm system as standard, interior monitoring in the cab, a back-up horn and towing protection.
Viewpoint On Van Tool Theft
John Ricardo-Neto, Head of Product Planning at Volkswagen Commercial Vehicles, said:
“The cost of theft is more than just the price of the tools stolen, it’s the downtime while van drivers replace the stolen equipment, the higher insurance premiums and lost revenues, so it’s imperative that UK tradespeople be vigilant to tool theft.
“We urge those who own expensive equipment to take extra precautions – securing or removing tools overnight and parking in a well-lit, CCTV-monitored area. For those who wish to further increase the security of their vehicles, our range of theft prevention technologies can offer extra protection, allowing van drivers to get back to focusing on their businesses.”
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