Take the time to imagine being without your tools. You rely on these every day to get the job done, and without them, how are you going to take care of your customers? Unfortunately, tool theft is all too common but it is something you can prevent.
We’ve done the research and found these top five simple steps you can take to protect your tools from being stolen.
Under lock and key
It may seem like a simple one but every toolbox that you own should be lockable. Regardless, if you store it on the back of your car, in your garage or even onsite, an unlocked toolbox is a red hot opportunity for thieves to strike.
Lockable toolboxes are one of the safest security measures you can take when physically protecting your tools and it is worth investing in a high-quality one. When looking at the features of a lockable toolbox, make sure it has recessed lock housing. These kinds of locks help prevent thieves from breaking through with grinders and bolt cutters.
Labelling your tools
If you haven’t already invested in one, add a high-quality diamond tipped engraving tool to your toolbox. They are great for engraving glass, metal, plastic and won’t break the bank.
Having this useful tool at your fingertips means you can engrave your business name and contact details on your tools, providing an instant identification of ownership. It is especially helpful if you work on large jobs, where your tools could go missing.
By having your details on your tools, it makes it easier for authorities like the police to return the stolen tools back to their rightful owner.
Keep a record
In addition to engraving your tools, keeping a record of receipts and documents is another way to prove ownership. Having proof of ownership assists when reclaiming your stolen tools and will also assist when you lodge a claim through your insurance provider.
Many stores now offer an option to have your receipts emailed to you, making it a safer alternative with no need to worry about misplacing them or fading over time. Taking photos of your tools is another step you can take to prove ownership.
Hide your tools
Leaving your tools around for would-be thieves to see is one thing you easily prevent. Whether it is at home, on your vehicle or at work, keeping your tools locked up should be a priority.
If you keep your tools in your car or garage, make sure you keep them locked up and out of sight. It’s an easy step you can take and should become part of your daily routine. As the old saying goes, prevention is better than cure!
Protecting your most valuable business assets is a no-brainer. Having to replace your stolen tools can have a significant impact on your finances. Do you really want to fork out your hard-earned money to replace them? That’s where Tool and Portable Equipment insurance* comes into play.
Tool and Portable Equipment insurance covers you for loss and damage to items of portable equipment associated with your business. These can include tools of trade and items of stock. Here is an overview of what a policy typically covers and excludes:
What’s typically covered*?
Loss or damage that is caused by:
- Fire, storm, water, explosion, impact or malicious damage
- Theft following forcible and violent entry to locked vehicles or locked buildings
- Theft of equipment securely attached to a vehicle through the use of locks or padlocks
Specified portable equipment can include items such as:
- Mobile plant
- Photographic or video equipment
- Mobile communication equipment, including telephones and radios
- Electronic equipment, including computers, diaries, GPS units
- Accessories for the items listed above
What’s typically NOT covered*?
Loss or damage to your portable equipment that is caused by:
- Wear, tear or gradually developing conditions
- Gradual cracking, scratching or marring
- Rust, oxidation, mildew, mould, moths, insects, vermin, dry rot, contamination or pollution
- Any process of heating, drying, cleaning, dyeing or alteration to any insured item
- Faulty materials or workmanship
- Theft by employees
- Unexplained inventory shortage
Don’t leave it to chance
When it comes to protecting your business from theft, being proactive is one of the smartest steps you can take. It may feel like a bit of effort but it’s a little bit of pain for long term gain. Being mindful of where your tools are, keeping them locked up and marked with your business details are just some of the ways you can keep them safe.
Having a solid insurance plan in place should be something to consider when it comes to not only protecting your tools but your financial situation too. Being without your tools of trade could be the difference between staying in the tradie game or closing that toolbox for good.
Get a free quote for your business insurance in minutes with Public Liability Insurance.
*As with any insurance, cover will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this web page is general only and should not be relied upon as advice.