October and November are the peak months for tool thefts, according to a new analysis by Direct Line business insurance.
The research revealed that in both 2022 and 2023, tool theft peaked in these winter months, as the clocks changed and the nights drew in.
The analysis showed that reports of tool theft were 46% higher in October 2023 than in April 2023, which was the lowest recorded month for tool theft. The rise in thefts is even higher when looking specifically at tools stolen from vehicles, which were 54% higher in October 2023 than in April of the same year.
Direct Line business insurance’s research also found that tools worth £98m were stolen from tradespeople in 2023, with a theft reported every 12 minutes. When there are fewer hours of daylight, the opportunity for theft increases, which is why tradespeople are encouraged to review their tool security and stay extra vigilant.
Alison Traboulsi, product manager at Direct Line business insurance, said: “Tool theft is hugely disruptive and stressful for tradespeople, alongside having to replace tools, tradespeople lost an estimated £82m worth of jobs last year due to tool theft. With police force data showing that thieves exploit the longer nights to steal tools, now is a good time to review security and make any necessary changes; from installing additional locks and alarms to checking you have adequate insurance should you become a victim of tool theft.”