The retail sector isn’t the only industry susceptible to theft. The construction industry is also at risk. Expensive equipment and tools are vulnerable to theft and can sell for a handsome price in the black market. Here’s how to prevent construction site theft.
Consequences of Construction Site Theft
Construction site theft accounts for about $1 billion in financial loss every year in the industry. The figure has increased every year since 1996. Aside from the loss of equipment and the cost of replacement, companies may also have to rent in the interim. Stolen equipment may also result in downtime in the work zone, leading to further financial losses. In addition, if the stolen equipment is insured, this could result in higher premiums. Continue Reading →