Protect Your Dealership Against Theft
Whether you are an equipment or wedding rental dealer, your tools and equipment are integral pieces of your business. These pieces of equipment are often targets for thieves due to their high value and how quickly the items can be sold.
From 2013 to 2017, the CRA Insurance program has experienced a 300% increase in claims related to theft. Equipment is often stolen due to poor security on the property or not following proper procedures when renting the equipment. It is important to have prevention measures/policies in place at your rental location(s) to reduce the chances of theft, both from burglary and conversion.
Theft Prevention Tips
1. Heavy Gauge Chain Link Fencing
At least 7 feet high, topped with barbed wire or razor wire (check with local authorities for restrictions).
2. Drive Through Barriers
Concrete barriers (2 – 3 ft. high, lane dividers or large blocks) installed along the inside of the fence will prevent equipment from being removed through, or over the fence.
3. High-Security Locks on All Gates
Install at least two high-security padlocks with protected shackles or enclosed steel boxes.
4. Siren and Strobe Light
An outside siren and a strobe light connected to the alarm system and mounted on top of the building.
5. Burglar Alarms
Should be installed in the yard or on the fence with contacts mounted on the gates.
6. Alarming Equipment in the Yard
Use alarmed cables (extension cord type) which run through the units at night and plug into alarm outlets on the building.
7. Yard Lighting
Should be tamper/vandal proof, activated by motion detectors.
Conversion Prevention Tips
1. Always request to see photo ID
Check that renter matches the photo on the ID
Check that signature on rental contract matches the one on the ID
2.Ask for for a second piece of ID from first-time renters
3.Record vehicle information for walk-in renters
Make, model, colour
license plate number and company name/logos if applicable
4.Double check phone orders by calling back prior to delivering the equipment.
Confirm orders with a known contact person. Get name of person that will receive at job site.
5.Do NOT leave equipment unattended at a job site
Deliver it to an employee of the renter and get his / her signature and ID. If not sure – double check with office or do not leave equipment.
6.Pick up equipment as soon as possible after renter is finished.
7.Make sure renters know they are responsible for equipment until it is returned or picked up
For more information on how to manage the risks of theft at your rental dealership, please contact one of our risk management professionals. While risk management strategies can reduce your chances for loss, in the event of a loss it is important to ensure your business has the right level of insurance coverage. Visit our CRA Commercial Insurance page to learn how we can help protect your business.
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