According to a recent article from Construction Equipment Magazine, the National Insurance Crime Bureau stated that equipment theft for the construction industry nears $1 billion lost annually, nationwide. Equipment and asset theft can make an extreme impact to a construction business’s bottom line, as equipment replacement can be incredibly expensive. So before it’s too late and your vehicles and equipment are being stripped for parts, it may be a good time to look into GPS tracking. Know where your fleet is at all times and have the insight needed to recover stolen property quickly.
For the construction industry, 41% of theft occurs for light duty vehicles, work trucks, and trailers.
Other assets that are frequently targeted include:
• Backhoe Loaders/Wheel Loaders
• Air Compressors
• Light Towers
To prevent taking a loss on any type of vehicle or asset, equip your fleet with GPS tracking devices. Once they are installed, make sure you set up the correct alerts so you are ready to respond if you do experience a theft.