If you rely on your van for work you will not only be keen to keep it running efficiently, but you will want to maximise its security too. Vans are often a target for opportunistic thieves, especially if they think there are valuable tools, equipment, and other important belongings inside.
Read on to find out the dangers of van theft and how it can be avoided with our advice on maximising van safety. We’ve also included useful tips on how criminals target your van to help minimise being targeted for theft in the first place.
The Cost Of Van And Tool Theft
Losing your van or tools to theft isn’t just frustrating, it’s financially devastating. Here’s why:
Business disruption and lost revenue
If your van is gone, so is your ability to work. That means:
- Missed deadlines and disappointed customers
- A knock to your reputation
- Potentially losing contracts to competitors
- The monetary impact can add up fast, with lost revenue potentially reaching thousands per day.
Tool replacement costs
If your van is stolen with all your tools inside, you’re looking at a serious financial hit. The average set of trade tools (both manual and power) can be worth thousands. Even with insurance, sourcing and replacing tools can take weeks, leaving you unable to work in the meantime.
Van theft: A costly loss
As if the financial hit of a stolen van isn’t bad enough, the cost of lost shelving, security systems, and modifications makes it even worse. A stolen van isn’t just a vehicle, it’s a major business investment gone.
Rising insurance premiums
Insurance may help cover some losses, but there’s always a catch. Deductibles, policy limits, and long claims processes can leave you out of pocket. Plus, a stolen van means higher premiums in the future, adding to your ongoing costs.
Hidden costs and admin nightmares
Beyond the upfront financial losses, theft comes with a mountain of admin. You’ll need to:
- Report the theft to the police
- File insurance claims
- Arrange temporary transport
- Source and buy replacement tools
- Register, tax, and insure a new van
All of this takes time and energy, time that could be spent working and earning money.
Operational setbacks
No van means no tools, no transport, and no work getting done on time. Clients don’t like delays, and if jobs run late, it could put future contracts at risk. Plus, dealing with theft can be a logistical headache. Filing police reports, coordinating insurance claims, and scrambling for replacements takes valuable time and focus away from running your business.
Lastly, theft doesn’t just hit your wallet, it affects your team too. Workers rely on their tools to get the job done. Losing them can cause frustration, stress, and even a drop in productivity.
The Bottom Line:
Van and tool theft isn’t just about replacing what’s lost—it’s about the ripple effect on your business. Rising costs, lost work, admin headaches, and business disruption can be crippling. Protecting your van and tools is key to keeping your business running smoothly.
Choose the Right Insurance
Choosing the right van insurance depends on how you use your vehicle. Getting it wrong may hinder affect your claim. For example:
- Private van insurance – covers everyday use like school runs and shopping but not business-related activities, including commuting.
- Commercial van insurance – required if you use your van for work. Options include:
1) Carriage of own goods which covers tools and equipment for trades like builders and plumbers. Also needed if you commute with your van.
2) Carriage of goods for hire or reward which is essential for delivery drivers making multiple stops.
3) Haulage – designed for long-distance transport, such as moving services.
Unsure which policy suits you? Speak with insurers to compare options. Prices vary, so shopping around is key. Also, if you’ve modified your van for security, inform your insurer—it could affect your premium.
Is Insurance Included When Hiring A Van With Pace Van Hire?
When hiring a van from Pace Van Hire on a short-term basis, your insurance is included in the price of your rental fee of your van, this is with a standard excess of £1,500 however you can reduce this to £500 for £24.99/day.
However, if you hire a van from Pace Van Hire on a long-term contract hire, insurance is NOT included in the package fee. Therefore, if the van is stolen during your hire period with Pace, then we would make a claim on your insurance policy to reimburse us. We would provide a replacement vehicle, but this will be charged until the insurance company agrees to settle the claim.
If you are a tradesperson wondering if Long Term Van hire may be more of a cost-effective solution for your business, find out more about how long term van hire adapts to your business needs, or read our recent customer case study on how business contract hire has helped grow their business.
Alternatively, if you’d like to speak to a member of the Pace team directly, enquire at your convenience.