The theft of tools and supplies from vans is costing UK tradespeople £264 million a year.
That’s according to insurance marketplace app Honcho, which says it surveyed more than 1,000 tradespeople, and found that the average van theft costs the victim £11,566 in total.
This is not only due to the cost of replacing the stolen goods, given as £5,584 on average, but also due to the loss of work and income in the meantime, given as £5,982, with victims being put out of work for 30 days on average.
In addition, 89% said that when making a claim on their van insurance, they weren’t covered for the full value of their stolen tools, while 84% weren’t provided with a courtesy van.
A tradesperson’s van is broken into on average once every 23 minutes in the UK.
Honcho’s Graeme Stoker said: “Van theft remains one of the biggest obstacles for tradespeople in the UK. With a van being broken into in the UK every 23 minutes it is impossible to ignore the problems tradies face as a result.
“We know how tough it can be to have to come back from van theft and too many hardworking professionals are being caught short with their van insurance policy by solely looking for the best price and not ensuring it covers all of their needs.
“Looking after your van, tools and income is always going to be a top priority in the trades so taking the time to really investigate your insurance and use a marketplace that has your best interests at heart to find the right insurance cover is imperative to the success and stability of your business.”