The U.S. Department of Transportation’s National Highway Traffic Safety Administration observes National Vehicle Theft Prevention Month in July to call attention to vehicle theft, urging owners and operators to take preventive steps to keep their vehicles and equipment safe.
The American Rental Association recently reported that equipment theft is a $100 million-a-year crisis for the equipment rental industry alone. In 2024, Neuroject reported that heavy equipment theft costs the U.S. construction industry between $300 million and $1 billion annually, representing one of the most significant financial burdens for construction companies.
“The frequency of equipment theft has created new challenges on the job site,” said Garrett Maurer, Director of Digital Product Management at Bobcat. “The good news is that operators and construction business owners can do something about it.”
Emerging technologies are supporting efforts to improve machine security, reduce risks, and protect valuable assets. Maurer outlined the benefits of telematics software like Bobcat’s Machine IQ, including:
- Track a machine’s current location and history
- Enact geofencing with custom parameters
- Establish machine curfews
- Remotely disable the machine in instances of suspected unauthorized use to prevent further operation and potential damage
“These are great ways to reduce instances of equipment theft and be in the know about your machines anytime, anywhere,” Maurer said.
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| Faris Machinery |
While a variety of factors can impact the likelihood of equipment theft — such as work site location or lack of adequate surveillance — enhancing security measures and improving asset tracking may help deter potential thieves.
If you suspect theft of your owned or rented equipment, Bobcat offered these important steps:
- Contact law enforcement — File a report with local authorities and provide applicable equipment details and GPS information.
- Contact your dealer — Notify your local dealership partner about the theft and police report. Request their assistance with documentation if needed.
- Notify your insurance company — Follow standard protocols with theft claims and provide proof from your dealership if needed.
