Van Tool Theft is On The Rise, Says Direct Line

Tool theft is a huge problem for commercial and van insurers and according to Direct Line research it is rising, almost as fast as food price inflation. Here’s the word;

New analysis of police force data from Direct Line business insurance reveals that tools were stolen every 15 minutes in 2022 across England, Wales and Northern Ireland. In 2022, there were 35,098 incidents of tool theft reported to police forces – a 13 per cent increase from 2021. In 2022, 19,147 cases of tool theft specifically from a vehicle were reported. This makes up over half (55 per cent) of all tool theft cases in the year. A tool theft occurred from a vehicle almost every half an hour (27 minutes) in 2022, which equates to a 10 per cent increase in incidents from the previous year.

Tool theft can prevent tradespeople from being able to carry out their jobs and significantly impacts them financially. Additional research from Direct Line business insurance found that the average value of tradespeople’s tools that had been taken from their vehicle was £3,425. This equates to a combined loss of £66 million, from the 19,147 cases of tool theft from vehicles in 2022.

LONDON BOYS `N’ ANGLE GRINDERS

Thefts reported to London’s Metropolitan Police represented 58 per cent (20,2019) of all cases, and London also came out on top when the population density of the jurisdictions was considered.

Although many tools are targeted by thieves the most popular these days is the rechargeable angle grinder. The reason is simple; angle grinders can be used to steal expensive bicycles within seconds. Theft of high value bicycles is particularly rife in London, where many people cycle to work on e-bikes, racers, or other bikes worth in excess of £2,000 new. That means they have a good resale value on FB, Gumtree or other secondhand goods markets. Stealing e-scooters, bicycles or small trail/enduro bikes using angle grinders also allows drugs gangs to acquire rapid transport for their goods, which can be used off-road or on footpaths where pursuit vehicles cannot follow.

Tradespersons tend to use more powerful angle grinders, with bigger battery packs and an array of cutting blades, which means vans tend to be targeted by thieves. If you can cut a bike lock in 90 seconds, rather than 3 minutes, then it makes the stealing that bit easier and reduces the risk of owners or witnesses intervening.

GEO FENCING CAN REDUCE RISK

Milwaukee, one of the big names in power tools has a geo-fence system, which means if the tool moves from a specific location then it can be tracked. Of course that doesn’t mean you can get the tools back, but in theory it should mean that the Police have an idea where the stolen items are being kept – assuming they can be bothered to investigate.

Alison Traboulsi, Product Manager at Direct Line business insurance commented: