Equipment theft is a large problem faced by landscaping businesses. In addition to purchasing an Equipment Floater Insurance Policy, landscapers can combat this problem through the National Equipment Register. This organization allows businesses and individuals to report stolen pieces of equipment and they compile a database with that information. They also provide a HELPtech program to pre-register and deter equipment thefts. For more information, please visit their website at www.nerusa.com

Equipment theft is also a growing problem in the United States. Reports to Insurance Services Office, Inc. (ISO) show an increase of up to 20% in the value of equipment thefts every year since 1996 and show theft as the most common cause of loss for heavy equipment – over 50% of all causes of loss. Inland Marine theft losses alone reported to ISO in 2000 were over $127 million. Some national surveys have suggested that the total figure could be as much as $1 billion each year in losses and indirect costs, such as rentals, downtime, wasted management time and project overrun penalties. Perhaps the most worrying statistic for owners and insurers is that as little as 10 to 15% of stolen equipment is ever recovered. Make sure that your equipment is properly covered by an Equipment Floater Insurance Policy. You can quickly request a quote through the link at the top of this website.

The Agent Articles section of BearWiseLandscapers.com allows our insurance agents to provide practical information for landscapers. These agents can also obtain quotes and establish a custom insurance program for your landscaping business through our access to a variety of insurance carriers. This agent article is filed under 3 Equipment Floater, and you can follow comments to it through the RSS 2.0 feed. Feel free to leave your own response below: