A report published by the National Motor Vehicle Theft Reduction Council (NMVTRC) reveals heavy motor vehicle thefts are on the rise.
While heavy motor vehicle thefts only constitute three per cent of overall motor vehicle thefts in Australia, the NMVTRC explains the “high value of these vehicles means their loss has a significant impact on their owners”.
So, recent statistics that show heavy motor vehicle thefts have increased by 26 per cent over the past decade are worrying for businesses.
Interestingly, overall motor vehicle thefts have dropped by 44 per cent during this same period. The NMVTRC reveals the seemingly contradictory jump in heavy motor vehicle thefts is due to a 76 per cent increase in plant and equipment thefts.
It should be noted that heavy motor vehicle thefts did not climb across the whole country. New South Wales, for instance, experienced a decrease of 25 per cent between 2002-03 and 2012-13.
Western Australia also reported lower-than-average levels of heavy motor vehicle thefts – surprising, given the large number of mining and construction businesses that operate in the region.
Queensland and South Australia, on the other hand, witnessed major increases in the number of heavy motor vehicle thefts over the past ten years. The former saw these incidents climb by an astonishing 149 per cent, while the latter experienced a rise of 69 per cent.
Overall, these heavy motor vehicles thefts have cost owners and insurance companies around $50 million.
If you would like to organise cover for your heavy motor vehicles as part of your large or small business insurance policy, get in touch with the team at MGA Insurance Brokers today.
We can arrange cover for businesses of all sizes, from single vehicle operators to large fleets.