Let’s Protect $100 Million from Equipment Theft

With more than 360 pieces of equipment vanishing each month, according to the American Rental Association (ARA), equipment theft is costing the construction industry about $100 million per year, draining resources, threatening the stability of critical operations nationwide and putting workers in danger. Check out an article on this topic from the January 2024 AsphaltPro Magazine, “Be Aware of Your Surroundings,” in which a McGuire & Hester employee was robbed of a company truck after driving home from a job site in fall 2023.

While equipment theft continues to be an issue for workers in the asphalt industry, the American Rental Association (ARA) has teamed up with law enforcement to outline programs designed to combat the problem. At a recent press conference held at Ritchie Bros. Auctioneers’ location in Morris, Illinois, the ARA outlined new theft prevention and recovery programs that will arm equipment rental businesses with resources to identify potential threats and prevent equipment theft.

In addition to raising awareness, the ARA also unveiled Equipment Rental Guard (ERG), a comprehensive security suite designed to arm the rental community with the knowledge, tools and resources to verify renters, prevent theft and protect assets.

Law enforcement issued guidance on how to quickly and effectively report equipment theft, emphasizing the need for swift action, such as that taken by the team of McGuire & Hester, Alameda, California, in 2023. Along with strong preventive measures, such as investing in technology to track company vehicles, investing in additional security measures for truck lock boxes (such as more secure locking systems with drop down bars that are quite challenging to cut without the correct tools) and locking equipment in locations inaccessible to the public (such as company warehouses), contractors and rental dealerships alike can take part in the ERG program.

“I think it’s incredibly important for all of us to band together [to prevent equipment theft],” said David Skala, manager, B.I. Rental, Homer Glen, Ill. “This problem is so huge that unless every individual who is involved takes action, there’s not going to be any movement forward. I think all the tools that ARA is introducing are absolutely fantastic, and I’m looking forward to implementing them in our store.”

The ERG program includes tools such as training courses, red flag renter text alerts, a national database of problematic renters and stolen equipment, and ID verification. Theft reporting guidance, financial security tools and free legal assistance are also available through the ERG program.

For more information on protecting against rental equipment theft, visit ararental.org.