According to recent research, the sheer number of tools that were stolen last year could amount to a bill of over ninety-four million pounds!
Analysis was conducted on data obtained from a variety of police constables under the Freedom of Information Act. It found that tool theft is actually so common, that a whopping 215 tradespeople could have their tools stolen every single day. And, if these tools were uninsured, this would mean that the UK’s construction workers would have to work an extra 450,000 hours just to cover the costs.
According to the research, tool theft is unsurprisingly the number one financial concern for tradespeople. Specifically, not having the right cover was the biggest worry. Following this, the trades were also found to be concerned about customers suing too and having negative reviews written about them online.
The Sales and Service Manager for the company who completed the study stated: “Tool theft has always been the plague of the tradesperson but it’s staggering to see the total cost of these crimes.”
“There’s no doubt that tradespeople are targeted and no matter how many precautions you take it’s almost impossible to fully safeguard against becoming the latest victim.”
Take a look at some of the top ways you can protect yourself against tool theft here.
“Tool theft is anything but a victimless crime – it not only hurts financially in terms of replacement tools, but also lost work.”
“The data we received from various police forces was extremely disturbing, with thefts in some regions running into the multiple thousands in just one year.”
So what do you think of this? Let us know in the comments below.