Half of tradespeople have had tools stolen
Nearly half of tradespeople (47 per cent) have fallen victim to tool theft, according to new research by Direct Line - Business. Over half who’ve had equipment stolen said the theft took place at night (53 per cent) – a result of seven in ten (73 per cent) admitting to leaving tools in their vans overnight.
Roofers have had their tools stolen from them the most (65 per cent), with electricians (58 per cent) and plumbers (55 per cent) following closely behind.
Young tradespeople were most likely to have left tools in their vehicle overnight frequently (54 per cent) and fell victim to tool theft most often, with the figure standing at an alarming 68 per cent for 18-34-year-olds.
Tool theft has had a devastating financial impact on tradespeople. Almost a third (30 per cent) said that it took at least a week to replace their essential tools, meaning they missed out on important jobs and were hit hard financially.
Despite the threat, only a quarter of tradespeople (27 per cent) have a specific insurance policy which protects their tools kept in their vehicle overnight. Concerningly, just under a fifth (18 per cent) of tradespeople who’ve had their tools stolen in the past still don’t have insurance to cover their tools overnight in a vehicle, nor plan on investing in any in the future.
Jonny McHugh, SME Business Manager at Direct Line, said: “Tool theft is an ongoing problem for tradespeople up and down the country – with a majority of roofers, electricians, plumbers and carpenters having had their tools stolen. With so many leaving their equipment in their vans at the end of a busy day, overnight theft from vehicles is a particular threat.
“At Direct Line, we know the impact of tool theft can be devastating, and we’re committed to giving tradespeople the protection they need to enable them to do what they do best. We offer a range of flexible insurance cover options allowing tradespeople to build a policy which covers their specific insurance needs, whether that’s cover for during the day at work or tools locked in a van overnight.
Furthermore, with our new Tools Essentials offering we’ll help tradespeople get back to work quickly by helping them to replace their essential tools within 24 hours, with an upfront faster payment of up to £1,500, subject to a few checks. Tools Essentials is available to all customers who have a valid tools claim and policy with Direct Line – Business. Claims can be reported between 8am-6pm, Monday to Friday, except Bank Holidays, policy limits and exclusions apply.
For more information on Tools Essentials please visit: https://www.directlineforbusiness.co.uk/public-liability-insurance/insurance-for-tools
For tips on how to keep your van and tools safe please see: https://www.directlineforbusiness.co.uk/van-insurance/knowledge-centre/your-van-and-your-business/what-van-security-improvements-can-i-make