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Tradespeople hit by £75m tool thefts

Figures obtained through a Freedom of Information request to all police forces in the UK show that British trades people lost over £75 million due to tool thefts from their vehicles over the past five years.

Every tradesperson knows that protecting their tools is vital for being able to work, and with average thefts from vans totalling around £1,900, this can potentially put livelihoods at risk. Some insurance policies do not cover tools left in the vehicle over night – and for some, it is not always possible to secure their equipment elsewhere.

The hotspots hit by the most costly thefts in the last five years are London Metropolitan - £30.6 million, Yorkshire - £10 million, Essex - £5.3 million, West Midlands £4.2 million and Greater Manchester £2.9 million. This is an awful lot trades people potentially being put at risk as well a large amount of ‘dodgy’ tools being sold somewhere.

It’s hard making ends meet for many small traders, but one thing worth investing in is good insurance: the tools of your trade are vital, so protect them –and remember always keep receipts when you add to your stock.

Contact Westhill Insurance Services, today.

Posted on 29th August, 2014