Construction project sites are busy environments. You’ll find lots of valuable tools, machinery, and materials everywhere. The exposure creates potential security risks. Criminals know that construction materials and tools are valuable in the current market. Thieves are a threat to enter construction job sites after hours unless strong security measures are in place. Companies victimized by theft have to deal with the damaging consequences.
In addition to the funds required to repair or replace the stolen parts, companies may be forced to postpone projects, severely harming their reputation. Construction companies are now researching the benefits of tools and equipment insurance.
Construction Sites Are Targets
A recent National Insurance Crime Bureau study outlines the yearly severe damage caused by theft. Construction sites have millions of dollars worth of materials stolen from job sites every year. Many of those items are never recovered. The study found that the primary objects stolen from construction sites are metals, power tools, and large equipment.
Primary Causes of Theft
As expected, criminals attack areas with little or no security coverage installed. Most theft attempts occur during the summer when the construction industry is in high demand. Criminals look for open doors or containers for easy access. Experienced criminals know where to look for keys and tools around the site. Unsecured sites that are shut down for the weekend are under constant threat.
Also Read: CONTRACTORS, PROTECT YOUR TOOLS FROM THEFT
How Contractor Tools and Equipment Insurance Can Help Protect You
As a construction worker, you constantly bring your tools from different sites to complete jobs. You may be a construction site owner concerned about potential theft attempts. Purchasing contractor tools and equipment insurance is your best option. The policy covers your possessions while you’re on the job. If you’re a construction worker, your coverage protects each project. If your tools and equipment are stolen or vandalized, you’ll be reimbursed for repair or replacement costs. The policy also covers borrowed items that you use to complete tasks.
Related Article: IMPORTANT THINGS YOU SHOULD KNOW ABOUT STOLEN TOOLS INSURANCE
How the Policy Differs from Commercial Property Insurance?
Tools and equipment insurance is more flexible because it covers your possessions while traveling around. Commercial property insurance protects your items if they are stolen or damaged in a direct location.
Consult with CDF-Artisan Insurance Solutions!
Purchasing insurance can give you peace of mind if you want to avoid financial risks and worries in emergency situations related to tools and equipment. CDF-Artisan Insurance Solutions can assist you with any questions you may have regarding coverage. Contact us and our team of experts can guide you in selecting the right insurance policy to protect your tools and equipment in case of theft, damage, or loss.
Also Read:
Leave A Comment