Are You Covered for Theft or Vandalism on the Job Site?

Posted by John Cofini on Tue, Sep 29, 2020 @ 05:57 PM

coverage-for-jobsite-theft-or-vandalismJob sites are common targets for theft. Thieves look for anything of value that can be sold for cash which can include building materials, tools, equipment, trailers, and vehicles. Currently, the nationwide unrest that has sparked looting and vandalism has increased the risk of theft and damage to unoccupied construction job sites.

Developing a site-specific security plan can help mitigate the risk of trespassing and theft from your job site. Construction Dive gives these examples of what a security plan should contain:

  1. Secure and reduce the number of entry points. Multiple entrances create more exposure and more places to put up cameras, guards, gates, and other security features.
  2. Store and lock materials, equipment and tools. It may be easier to throw a tarp over a stack of materials or tools on your site but securing them in containers adds another layer of protection.
  3. Add security. The presence of security guards or cameras with posted signs makes most thieves think twice about stealing and may provide valuable evidence if someone is caught on the premises without permission.
  4. Get to know neighboring businesses and local authorities. This increases the number of people looking out for your property.
  5. Secure proper insurance coverage. Hopefully, you won’t have to use it but, in the event, you do, the right coverage will mean one less headache.

Risk management is a defensive maneuver. Even with the best planning and preparations, losses can occur. That’s why great insurance is essential.

Commonly overlooked construction site coverages include:

  1. Installation coverage for stored materials. Stored materials are not included in your business personal property coverage or stock once they are moved to the job site, having an installation policy protects these materials on site.
  2. Equipment coverage. Most equipment is not covered under your auto policy and needs separate coverage. When covering equipment make sure you are scheduling it for replacement cost, and you have included the serial number. Leased and rented equipment coverage is also smart to have.
  3. Most tools are covered under your business personal property, but you can also cover Employees’ tools.
  4. Auto and trailers. These should be listed on your auto policy. Keeping an up to date inventory list with your agent is important especially if you have a large fleet of vehicles.

These added jobsite security measures may seem tedious upfront, the but the extra protection is worth it. Dealing with a construction site loss has a trickledown effect that interrupts the entire project. Requiring the same coverages of your subcontractors can also help mitigate a project's interruption.

If you need help setting up a jobsite security plan or have questions about whether your job site is covered for a loss of theft or vandalism please contact us. BNC Agency is knowledgeable in the construction industry and can make sure you’re protected.

Tags: coverage for jobsite theft or vandalism