What to Do After a Piece of Equipment is Stolen

22 Aug 2016

Are you a farmer, or do you own a construction company? Do you work in any industry that requires the ownership of equipment?

If so, you know how important your equipment is to the success of your business. You also know how susceptible your equipment is to theft. The National Insurance Crime Bureau estimates that construction equipment and tools to the tune of as much as one billion dollars worth is stolen in the United States every year; 90 percent of these theft occur at work sites. Between 1995 and 2001, these thefts increased by 64 percent, and the numbers continue to rise.

If you are the victim of equipment theft, what you do after you discover your equipment has been stolen plays a pivotal role in recovering your stolen property.

What should you do after you find out that your equipment has been stolen? Here are some helpful tips to keep in mind that can speed up and make the recovery process more successful.

Secure the Scene

The first thing you should do is secure the scene. Make sure that all of the equipment that has not been stolen is properly secured. This includes making sure that it is locked up and that it is monitored.

Take Inventory

After you have secured the scene, take inventory of your stock of equipment. Make a detailed report of all of the items that have been stolen. Include vehicle identification (VIN) numbers, the name of manufacturers, the year and model, the date the equipment was purchased, any identifying marks on the equipment, and any other pertinent information in your report.

Contact the Local Police Department

Contact the police as soon as possible to file a stolen equipment report. Provide the police with the inventory report that you have created. They will also investigate the scene and provide you with a hard copy of the official police report that they have made, including the case number of the report.

Contact Your Insurance Company

Contact the company that insures your equipment within 24 hours of the time you made the discovery of the stolen equipment. Provide your insurance company with the hard copy of the police report, as well as the case number that you were given.

In order to improve the chances of recovering stolen equipment, it is a wise idea to install GPS equipment tracking devices. This will make it easier for you, and the authorities, to pinpoint the location of your equipment, and ensure its return.

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