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Equipment theft is a growing, costly problem. It costs you in lost revenue, man hours, downtime and missed contract deadlines.
Insurance is not enough. Unfortunately, too many construction companies learn the hard way that their theft insurance is not the complete solution to protecting their bottom line.
The hidden costs of construction theft:
- Vehicle and equipment replacement costs
- Vehicle and equipment rental costs
- Vehicle content replacement costs
- Lost cargo and onboard equipment
- Premium increases and insurance deductibles
- Crew and equipment/vehicle downtime
- Lost revenue
- Potential contract penalties
The facts speak for themselves:
- Industry sources estimate annual losses from heavy equipment theft are as high as $1 billion
- More than 72 percent of equipment owners have experienced equipment theft recently1
- As little as 10 percent of stolen equipment is ever recovered2
1. Construction Equipment Theft Survey conducted by Cygnus Business Media (2005)
2. National Equipment Register
Fight back with LoJack for Construction Equipment. It provides protection for your heavy equipment and vehicles. Using LoJack, police can help get your equipment back fast, keeping you on schedule and within budget.
| TYPICAL EQUIPMENT THEFT VICTIM3 |
LOJACK THEFT VICTIM4 |
| 10% recovery rate |
90% + recovery rate nationally5 |
| 55% of the recoveries took >1 week |
71% of the recoveries took < 24 hours |
| Less than 35% of the equipment recovered is undamaged |
More than 95% of the equipment recovered is undamaged |
3. Construction Equipment Theft Survey Conducted by Cygnus Business Media 2005
4. LoJack Theft Study
5. Reflects consolidated LoJack national recovery rate in the U.S.
For more information or to schedule an installation, contact our Commercial Sales Department online or call 877-775-6522. |