From building materials to tools to heavy equipment, construction site theft is an industry-wide epidemic. In addition to the direct costs of replacing the stolen goods, there is also the indirect cost due to increased insurance premiums, rental costs to replace stolen equipment and lost productivity. Delays in production can also result in hefty fines if deadlines are not met. While no concrete numbers are available, most industry experts estimate that losses due to construction site theft reach $1 billion or more annually.
The key is to prevention is making it as hard as possible for would-be thieves to quickly make off with your tools, equipment and materials. Following these five tips will go a long way in helping you avoid becoming a victim of construction site theft.