GPS Tracking Isn’t Enough: One Simple Step Can Protect Your Heavy Equipment from Theft
Author, Sam Clayton, Vice President, Construction Group, Rancho Mesa Insurance Services, Inc.
The use of heavy equipment by grading/excavating, street/road and water/sewer contractors is vital in their daily operations. Outside of their employees, this is their second most valuable asset and also very expensive to replace, if stolen. Contractors across the country have seen an increase in heavy equipment theft. According to the National Equipment Register (NER), heavy equipment is nine times more likely to be stolen than vandalized and five times more likely to be stolen than encounter fire damage.
Contractors are often comforted that they purchased an inland marine policy to cover the loss of a piece of heavy equipment when stolen. However, there are steps companies can take to reduce the likelihood of their equipment being stolen or at least increase the chances of the equipment being recovered.
In addition to using GPS asset tracking software, Rancho Mesa recommends registering all heavy equipment with the NER, a subsidiary of the Verisk Crime Analytics family of companies.
The NER, through the their HELPtech (Heavy Equipment Loss Prevention Registry) program, is the largest national database company that houses ownership information and theft data for construction and agricultural equipment. This database helps law enforcement officials identify your equipment after a theft, increasing the odds and speed of recovery significantly. Think of this as the DMV for heavy equipment.
Annual membership to the NER is nominal:
$250 for up to 50 pieces of equipment
$450 for up to 150
$750 for up to 1000
Members also receive special decals for their equipment, alerting potential thieves that stealing this equipment and trying to sell it would be more trouble than what it is worth.
In addition, many insurance carriers are willing to waive the policies theft deductible up to $10,000 if the piece of equipment is stolen and registered through the NER.
In partnership with the NER, Rancho Mesa can offer clients a discount when registering your equipment through HELPtech. Contact me at (619)937-0167 or sclayton@ranchomesa.com to learn more.