In Australia’s news, you frequently see stories about the flagrant burglary of a tradeperson’s tools and how it damages their livelihood. Find out a couple of the most recent stories and statistics that show why this should be a real concern for tradies and how investing in Trades Insurance can help.
Theft from tradies is a nationwide problem
Theft from Australian tradies is not an unusual problem and is in fact on the rise.
In response to an increase in this specific kind of crime at residential sites, the Australian Institute of Criminology launched an investigation into the matter. The Institute found that across the nation raw materials were the number one stolen goods (61 per cent) and small hand-held tools were the second most commonly stolen items (46 per cent).
Meanwhile, in Victoria specifically, tools or power tools were the most frequently stolen items by thieves from 2013 to 2014 according to a Victorian Police report. It’s a problem across the states, too. For example, in 2016, both the NSW and Queensland police departments issued warnings to tradies reminding them to lock up their supplies.
Tradie faced business interruption but community helped him out
Recently, the Herald Sun reported on how a Melbourne community pulled together money from a fundraiser to help a tradie whose $5,000 worth of tools were stolen. The supplies included battery-operated drills, power saws and drivers that were in the back of his ute.
The tradesman hoped that the thief knew what a disruption in his business the theft caused.
However, in just the first four days, he had received $1,300 from small donations. The tradesman was taken aback by the generosity of his community and hoped that the thief knew what a disruption in his business the theft caused.
How insurance can help
The best way that a tradesperson can plan for the worst is to purchase insurance that will cover them for theft or damage to their equipment.
However, a large number of tradespeople lack insurance and are inadequately prepared when theft happens. The Australian Institute of Criminology found that, while 77 per cent of victims of theft said that their building sites were insured, the individuals themselves were not insured.
To find out about being insured as a tradesperson, contact MGA Insurance Broker today. We’re a highly competent team that will help you feel rest assured that you have a way to protect your livelihood in the event of a disaster.