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News in Focus: Mixed data in this year’s Trade Theft Report

The good news? Tool theft is down. The bad news? Vans are being stolen at double the rate.

Home » Tradesman Insights » News in Focus: Mixed data in this year’s Trade Theft Report

Tool Theft

Lets start with the good. The latest data from Ironmongery Direct suggests that tool theft has decreased as much as 64% in some areas of the UK. In fact, there has been a decline in tool theft overall across most areas of the country.

This is an excellent result for tradespeople who rely on tools and equipment to work in their trade.

However, there is still cause for caution, as thieves are on the hunt for higher priced items. Tool theft is down, but the value of the tools that are stolen is much higher.

West Yorkshire tops the table with a reported £50 million worth of tools stolen, with Surrey just shy of £800,000.

If we look at the areas where most tools were stolen, reports to the Metropolitan Police has the highest number of thefts. However, the value of tools lost in this area is £15 million lower than West Yorkshire. Does this indicate that the value of tools in West Yorkshire is higher than London? Leave you thoughts in the comments below.

What’s more, if we divide the value of tools with the number stolen, the average price per tool in West Yorkshire comes to £7,516. Compare this to London, at £1,601 per tool, it could be suggested that tradespeople in West Yorkshire are investing a lot more in tools and equipment.

What’s also interesting is the difference between South and West Yorkshire. There were 4,462 less tools stolen in South Yorkshire, a difference of 66%.

Based on the data provided by Ironmongery Direct, it’s unclear why this is. It’s possible that tradespeople in the North of England are purchasing higher value equipment, such as agricultural machinery. Another possibility is storage. Are those in the South of the UK taking extra precautions to store their tools? Let us know what you think.

Regardless of where you live, if you’re storing high value items in the back of your van or a lock-up, make sure they are well protected.

Van Theft

There has also been a sharp increase in van theft across the UK, with some areas experiencing double the number of van thefts year on year.

However, these numbers can be misleading. With restrictions in 2020 keeping people locked up at home, it’s no surprise that crime fell, and increased again when the country opened up in 2021.

So, what can you do? Thinking about where you park your van is excellent advice. As is securing your tools in a safe location overnight. You should also consider additional van security, and changing the manufacturers locks.

On top of all of that, your first line of defence should be van insurance. A tailored van insurance policy will keep your business above water, if your tools are stolen or van is written off.

Tradesman Talk

Have you experienced van or tool theft? If you have, how did this impact your trade?

Can you offer any advice on how to protect tools and vans from criminals on the look out for quick cash?

As always, your comments are welcome. And if you found this content useful, share it with someone you know on social.

Until next time, make sure it’s Tradesman Saver.

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