TOOL THEFT ON THE RISE

Tool theft is becoming increasingly common and if it hasn’t happened to you, you’ve probably heard of it happening to someone you know. We’re urging all builders to take extra measures to ensure your tools are secured

Here’s a short overview of what has been happening around the country.

Tauranga: There has been a concerning increase in the number of tradies being targeted by thieves, particularly in the Papamoa area. In October, police stopped a vehicle that was carrying a number of stolen tools and other items.

Thieves often target work vehicles parked on the street or in driveways at night while owners are asleep. Police say utility trucks, particularly with canopies, and vans seem to be the most targeted vehicles.

Wanaka: In October, police carried out a search warrant on a Wanaka building site and recovered a substantial amount of stolen timber, scaffolding and a large amount of other building material and builders’ tools.

The local man found responsible was charged with two building-site burglaries and two commercial storage-yard burglaries in the Queenstown and Wanaka area, and is likely to face further charges.

Otago: Dunedin residents haved faced a series of burglaries, including tools being stolen from building sites, cars and vans. Dunedin police are warning tradies to keep their valuable tools out of sight after the vehicles were broken into overnight, in what was described as an ‘opportunistic theft’.

While tools are heavy, they’re often stored in bags which makes them easier to steal. Parking work vehicles in driveways did not seem deter offenders.

Auckland: Earlier this year, a carpenter had $12,000 of tools and his car stolen. Because he had no tools (and they were not insured), he was unable to work for two weeks.

Builtin’s experience: There has been a sharp increase in insurance claims for stolen tools over the past 12 months. There is also an increasing trend of tradies being the target of multiple robberies, with the thief waiting a few weeks until tools are replaced before hitting them again.

What should you do?

We strongly urge you to reduce the risk of thieves targeting your tools, and increase the chances of having them returned, by following these simple tips:

• Label tools using with a UV security pen (police can provide these) and use your mobile, driver’s licence or LBP number as an identifier.
• Keep a register of your tools. This will help police if they recover them, as well as making an insurance claim much quicker.
• Deliver materials and appliances to site only when required.
• When the joinery is delivered, install it. Don’t leave it in the open where there is a higher chance of items being taken.
• Keep any tools and materials secured on site and, ideally, out of sight.
• Secure trailers with a towbar lock, so they can’t be stolen (with all your tools on board).
• Don’t park your van on the street loaded with tools (and always lock it)!
• Install a Van Vault-type secure container in your vehicle. These are a great deterrent to opportunist thieves.
• Alarm/immobilise your vehicles.

Tools insurance

Premiums are not as expensive as you may think, although the amount of claims is putting pressure on rates. Here are our top tips to make sure you’re getting the cover you need:

Replacement value vs indemnity value

Replacement value cover will replace stolen items with brand new ones, regardless of their age or condition when pinched. Beware — some policies that claim to be for replacement value will revert to market value on items more than a few years old, so check the fine print. With indemnity value policies, you’ll only get what the item was worth when it was stolen (its depreciated value) and you have to make up the difference.

Trailers

These should be insured as commercial vehicles, as they can’t be insured under a tools policy.

Theft vs burglary

Tool policies make a distinction between theft and burglary. Theft is generally considered to be when an item is stolen ‘in the open air’ (without any sign of forced entry). So, it would be considered theft if tools were stolen from an unlocked van or site, but burglary if locked doors were forced or a window smashed to gain entry. Some policies include burglary but not theft in the open air and you need to understand what you’re getting.

Know your excess

Even if your policy does include theft in the open air, theft excesses can differ. The policy might advertise a $500 excess, but it’s common to see a $1,000 excess for burglary and $2,500 for theft. You can find policies with options for lower burglary excesses and specialist trade insurers such as Builtin offer a $1,000 excess for theft also.

Getting a claim settled quickly

There are three main things that will help you get your tool theft claim settled quickly:

1. Having an insurer who understands that tradies need their claim sorted asap, so they can get back to work.
2. Having proof of ownership (invoices/receipts, photos and/or an up-to-date asset register so you can provide the details of your loss quickly).
3. Sending in your claim form, along with a police report and the proof of ownership immediately.

In a nutshell

Having your tools stolen can be a massive inconvenience, causing delays and costing money. Taking preventative measures, keeping good records and having the right insurance cover will ensure that if something does happen, you can be back to work quickly and not be out of pocket. Get an instant quote at https://builtininsurance.co.nz/tools.

Builtin are New Zealand’s trade insurance experts. For more information visit builtininsurance.co.nz or contact Ben Rickard at ben@builtin.co.nz or 0800 BUILTIN.