According to the RAC, an average of 30 vans are stolen every day. This means that hundreds of businesses a year are being negatively impacted, without even considering the amount that have tools stolen or damage caused. Tool theft and vehicle theft are two of the biggest expenses for small businesses, and in this blog, we explore the true cost of these thoughtless crimes.
Read on to find out more about what van owners are going through and some of the solutions on hand from Theft Stop.
Financial Implications
Direct Financial Loss
When you suffer van theft or tool theft, the money you lose can be massive. According to Auto Express, a new Ford Transit Custom starts at £32,350, while even used vans cost more than £10,000 on average. On top of that, tools can also run into the thousands depending on your industry. If a van is missing, so is the massive investment made by an individual or business.
Insurance can cover some of these costs, but policy deductibles and potential increases in future insurance premiums can still have a financial impact. Replacement tools are sometimes covered under these policies, but if they’re not, it can be a difficult, lengthy process to get back to where you were.
Disruption to Revenue
After you suffer from vehicle theft or stolen tools, you’re unable to complete work until you’re back to normal. This can mean missing deadlines, letting customers down, and potentially losing contractors to competitors. The disruption caused by this van crime can be severe, with lost revenue amounting to thousands each day.
Replacement Costs
As mentioned above, replacement costs for tools and equipment can be huge. Beyond buying a new van and valuable tools, you also need to consider any work you’ve had done in the van. If you’ve installed shelving, specialist security equipment, or anything else, this will all need to be done again at your own expense.
Your insurance costs will also likely rise following van theft, and this is something you’ll need to be mindful of. The impact of a stolen van goes far beyond the initial cost of replacing tools and vans.
Operational Implications
Project Delays
Work van theft can have a domino effect on ongoing projects, resulting in delays that can be detrimental to your business. Here’s how it can unfold:
Disrupted Operations: With the loss of your work van and essential tools, your team’s ability to carry out their work effectively is compromised.
Client Expectations: Delays in project completion can strain client relationships, leading to frustration and potential contract breaches.
Resource Allocation
Dealing with the aftermath of a work van theft requires a significant allocation of time and resources. Here’s what this entails:
Administrative Burden: Filing police reports, insurance claims, and coordinating with various authorities can be time-consuming and mentally draining. Van thefts and van tool theft need to be detailed carefully, but this takes a long time.
Financial Costs: Costs related to insurance deductibles, replacement of tools, and potential increases in insurance premiums can strain your budget.
Employee Morale
The impact of work van theft isn’t limited to finances and operations; it can also affect employee morale. Team members may feel vulnerable and stressed about the security of their work equipment.
Prevention Strategies for Van Drivers
Security Measures
Increasing van security is the first step in preventing van and tool theft in the first place. Break ins and tool thefts can often be avoided by increasing a van’s security. Simple changes to these commercial vehicles include:
- Suitable Van Security Locks
- Not Leaving Vans Unlocked
- Alarms and Immobilisers
- Tracking Devices
- Smart Key Storage
- Tools Stored Properly
Opportunist thieves will naturally be drawn to popular vans including Volkswagen commercial vehicles, Mercedes Benz Sprinter vans, and Ford Transit vehicles. So, it’s important to make sure that vehicle security is beefed up. Van break ins often come from carelessness, and you can make sure you don’t fall victim by following the advice above.
Secure Parking
Always try to park your vehicle in a well-lit, secure location. This will put off opportunists and protect your van. As well as good lighting, also look for CCTV cameras wherever possible. As well as being a deterrent, it can also help to recover stolen vans and valuable equipment.
Employee Training
To keep theft from vans to a minimum, employees should be educated on best practices. Many tradespeople have lost vans or equipment due to unlocked doors or the owner’s keys being left out. With effective training, it means that doors are locked and checked, keys are stored securely, and an effective alarm system is set every time.
Ready to Prevent Tool Theft and Vehicle Theft?
Work van theft poses significant financial and operational challenges for small businesses in the UK. By understanding the implications and implementing proactive security measures, business owners can better protect their livelihoods and ensure the smooth operation of their enterprises.In an ever-evolving landscape of threats, staying vigilant and prepared is essential for small businesses to thrive in the face of adversity.
At Theft Stop, we’re passionate about providing first-class van security services to clients in the UK. From Bear Locks and slam locks to alarms, steering wheel locks, and more, we’ve got options for sole traders, small businesses, and more. Get in touch to find out more.
