The most recent insurance estimates suggest that equipment theft costs the industry anywhere from $300 million to $1 billion annually.
Viewpoint: How to Protect Jobsite and Equipment From Theft.
Last year, the sudden nature of the coronavirus shutdown led to sloppy jobsite closures, leaving sites vulnerable to savvy thieves. Many jobsites were simply abandoned, as construction workers were sent home until construction could be reopened.
Yet even without extenuating circumstances, tool and equipment theft is a common problem at jobsites across the country. The most recent insurance industry estimates suggest the theft costs anywhere from $300 million to $1 billion annually.
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