A warning has been issued to tradespeople as recent research found that November is the worst period for tool theft in the year.
After assessing its own claim data from over 290,000 insurance policies between 2017 and 2021, Simply Business found that one in ten claims were made in November alone.
In October, Simply Business, along with On The Tools, launched their Stamp Out Tool Theft campaign, following a survey of over 2,000 tradespeople which found that four in five have had tools stolen, totalling a staggering £2.8bn worth of tools stolen across the UK.
Why is tool theft worse in November?
In its research, Simply Business points out that the increase in tool theft in November is due to there being fewer hours of daylight.
Thefts reach their peak in November (10.41% of all yearly claims), while in comparison, are at their lowest in August (6.04% of all yearly claims).
Alan Thomas, Simply Business’ UK chief executive, said (via Insurance Times): “With winter now setting in, it’s vital that tradespeople take the necessary precautions over the coming months – our claims data shows tool thieves are at their most active in the month of November.
“We’ve seen the profound impact of tool theft firsthand, costing tradespeople £4,470 on average.
”Those on the receiving end are often forced to take time off work - [this results in a] financial hit and longer-term repercussions on future business.
What steps can tradespeople take to prevent tool theft?
There are a number of simple and effective measures tradespeople can take to reduce the risk. One of the simplest is to make sure your vehicle is locked and your keys are left in a safe, secure place when not in use.
Removing tools and equipment from your van overnight is another effective measure, as is being clever with how you park your vehicle, for example, with back doors against a wall or garage to prevent easy access for thieves.
High-quality locks and an intelligent immobiliser are useful ways of deterring and preventing tool theft, and fitting a tracking device could be priceless when it comes to recovering a stolen van.
What is the leading cause of tool theft?
A lack of vehicle security is a major factor in these alarming tool theft figures. A study by business comparison site iCompario found that of 1,000 van drivers surveyed, 45% said they do not lock their vehicles when it isn’t being used.
A further 76% of respondents admitted to knowingly leaving their van at risk of being stolen, while 64% said they didn’t remove tools and other valuables from the vehicle when not being driven.
Unsurprisingly, unlocked doors are the leading cause (47%) of vehicle entry in theft cases, followed by an offender breaking a window (19%), manipulating a signal from a remote locking device (13%) and a lock being forced (12%).