Types of Construction Site Theft and How to Prevent Them
Construction site theft is big business, estimates of the cost of theft of construction equipment vary from about $300 million to $1 billion, with most estimates in the range of $400 million, according to the National Equipment Register’s 2016 Theft Report.
Targets of theft range from lumber and scrap metal, to high-dollar excavators and cranes. Some of the theft is the result of opportunity — a gate left unlocked, or keys left in a skid loader. Another theft is the result of organized gangs targeting construction equipment for overseas shipment, LoJack reports.
On top of the cost of property losses, theft impacts construction projects with delays, downtime for skilled equipment operators, increased insurance premiums and even cancellation of insurance in some cases.
Given the broad range of risks and perpetrators, construction site theft may be seen as a cost of doing business. But it doesn’t have to be that way.
A robust construction site security strategy, based on the latest techniques and technology, can reduce losses on residential and commercial construction sites and stop thieves in their tracks.