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Tradies are being urged to take precautions to protect their equipment after $33 million worth of hand and power tools were stolen in Victoria last year.
That marked an increase of 37 per cent on the previous year.
That figure represents an incredible 18,626 power tools and 14,911 hand tools that thieves snagged in 2023 – 12 per cent more than in 2022 – according to the Crime Statistics Agency.
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Trade tools are especially vulnerable to theft, as they are high value items and portable.
Given the sharp spike in the number of items taken, Victorian insurance company RACV is urging tradies to take steps to protect their tools.
When storing your tools in a vehicle, they should be stored in a robust truck bed or a lockable toolbox, anchored to the vehicle with a strong security chain, recommends RACV Home General Manager Bill Bloodworth.
"Marking your tools with your identification details, such as your name and driver's license number, makes them difficult for thieves to sell, easier for you to report as missing, and increases the likelihood of recovery by police," he said.
RACV also suggests the use of small GPS trackers on high-value items, allowing owners to monitor the exact whereabouts of their tools through a smartphone app.
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"To reduce the chance of theft, always ensure your tools are not left visible in your vehicle. This recommendation extends to equipment stored on the roof, such as ladders, which should ideally be kept inside your home or garage at night," Bloodworth said.
"Thieves typically look for easy targets, so visibly securing and locking away your tools can deter them from attempting a theft."
It's also best to park your ute or truck securely, ideally inside a locked garage.
Tradespeople also may want to consider the appropriate insurance coverage to minimise the hassle and financial impact of tool theft.
Business insurance covers for the loss, damage and theft of any insured tools or other equipment, while some insurers also offer business interruption coverage, which may cover business expenses during tool replacement.
"To facilitate the recovery of stolen items by police and the insurance claims process, maintain a detailed inventory of your tools, including make, model and serial numbers, and accurately declare their value. Photographs of your tools can also aid in their recovery," Bloodworth said.
