California remains the highest-ranking state in terms of equipment theft.
While construction equipment and tools are a favorite target for thieves in the U.S., many equipment owners and rental companies do not realize this.
That is the finding from Lojack Corporation’s annual Construction Equipment Theft and Recovery in the United States study. The company (www.lojack.com) helps protect vehicles in the event of theft with its LoJack Stolen Vehicle Recovery System.
The 2013 study revealed that:
- California remains the highest-ranking state in terms of equipment theft as a result of many active construction projects, as well as an international border with access to major shipping ports.
- Light utility vehicles and work trucks and trailers are the most common type of commercial equipment stolen.
- Newer equipment models were stolen more often than older equipment – largely due to the fact that the resale value of new equipment is greater. The study found that 46 percent of equipment stolen in 2013 was less than five years old.
- In 95 percent of the cases, the stolen equipment was recovered in the same state that the theft was reported.
Top states for theft
The study found that the states with the highest occurrence of equipment theft were, in order:
(Tie) Colorado, Illinois, New York
The National Insurance Crime Bureau reports that close to $1 billion a year nationwide is lost due to the theft of construction equipment and tools.