Mar 15, 2017

Take these simple steps to protect your heavy equipment from theft

{Sponsored} As a business owner, you face a number of risks on a daily basis, with some directly related to heavy equipment. You fear accidents, collisions, weather damage and more, but a common risk associated with heavy equipment is theft.

According to the “2014 Equipment Theft Report” compiled by the National Equipment Register (NER) and the National Insurance Crime Bureau (NICB), the value of stolen equipment hovered around $300 million in 2014. The estimate does not include business losses related to the theft, like company downtime, replacement rental costs, time spent recovering the machinery and more.

You must protect yourself.

HELPtech®, created by NER and supported by the insurance industry, is an online registry system for heavy equipment owners. For a small fee, equipment is registered by serial number in hopes of improving the recovery rate in the event of a theft.

The system will send theft alerts on your behalf to local law enforcement and help you file a report. The goal is to make tracking stolen equipment much easier.

Aside from joining a national equipment database like the one offered by NER, Hortica® suggests you take a layered approach to security by implementing the following inexpensive actions.

• Keep detailed records. Record and update your equipment inventory in a logbook. Make sure each entry includes a serial number for easy tracking if the equipment is stolen. Your records should be kept in a locked, safe place.
• Store your trailers separately. Store your equipment on the ground, not on a trailer. Travel trailers should not be stored in the same vicinity as your heavy equipment.
• Park your vehicles with purpose. Hortica® suggests you “create a traffic jam” with your equipment fleet. Surround small machinery with large equipment and try to box it in to its designated space.
• Lock it up. Use a heavy-duty chain and lock to tie multiple machines together. Make sure your equipment is locked up at the end of every shift.
• Store it under the lights. It’s best to store your heavy equipment in a well-lit area that is visible to anyone driving by. Added light may also help improve the quality of your security video footage should a theft occur.
• Tag your property. Thieves are less likely to steal equipment that is visibly marked with a company name or logo. Make sure all of your machinery has a tag or decal related to your business.

Take time to review your insurance policy every year to ensure that your heavy equipment is properly protected. And ask questions — Is my equipment covered at replacement cost or actual cash value? Does my policy include rental coverage? — because your agent is here to help.

For more information about equipment theft protection, visit www.hortica.com or contact a Hortica® insurance agent.

Disclaimer: Hortica® property and casualty coverages are underwritten, and loss control services are provided, by Florists’ Mutual Insurance Company and Florists’ Insurance Company, members of the Sentry Insurance Group. For more information, visit hortica.com. Policies, coverages, benefits and discounts are not available in all states. See policy for complete coverage details.

This document is of a general nature and is not intended to address the circumstances of any particular individual or entity. No one should act on the information contained in this document without advice from a local professional with relevant expertise.