The National Insurance Crime Bureau estimated that $1 billion in construction equipment was stolen in the United States last year. The economic impact is much larger though. When equipment is stolen, revenue and productivity declines immediately. For most companies who have equipment stolen, the impact is multiplied. Not only do they loose the asset, they are unable to complete work with the missing equipment and revenue suffers.
Recovery rates for rental equipment are extremely low. Typically only 10-15% of rental equipment is recovered by law enforcement (stolen vehicle recovery rates are closer to 60%). Most equipment is stripped down to parts, resold or shipped overseas.
There is very little regulation of the used equipment market and reselling a used backhoe, skid steer or bulldozer can be extremely lucrative for the thieves.
Many times, equipment on a job site cannot be secured as well as you would wish. Equipment is frequently left in isolated, remote or dark areas. In these cases, a GPS tracker is more important than ever. It’s the only reliable method for locating your extremely valuable assets. The Mobile-310 GPS tracker tends to be a good tracker for equipment. It’s long battery life makes it low maintenance and will make the difference if the equipment is recovered.