Technologies within telematics platforms offer a layer of security for construction equipment. (Photo courtesy of Bobcat Company)
With July being National Vehicle Theft Prevention Month, Bobcat Company is raising awareness of the growing issue of equipment theft, including some of the ways the construction industry can take preventive steps to keep vehicles and equipment safe.
In April, the American Rental Association reported that equipment theft is an astonishing $100 million-a-year crisis for the equipment rental industry alone. In 2024, Neuroject reported that heavy equipment theft costs the North American 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.”
He suggests that equipment owners and operators engage some of the more advanced functions of telematics software to do things like track locations, set curfews and enact geofencing.
“These are great ways to reduce instances of equipment theft and be in the know about your machines anytime, anywhere,” he stated.
While there are a variety of factors that can impact the likelihood of equipment theft, such as worksite location or lack of adequate surveillance, his company advises that enhancing security measures and improving asset tracking may help deter potential thieves. Bobcat’s Machine IQ platform even offers a remote engine disable/enable feature, which allows operators to respond to suspected unauthorized use by remotely disabling and re-enabling the engine through the Bobcat Owner Portal or Machine IQ mobile app.
What to do if you suspect theft of your owned or rented equipment
- Verify location first: Confirm your machine’s location with GPS tracking.
- Disable engine: If unauthorized use is in progress, and your system has remote engine disable/enable capability, use it to prevent further operation and potential damage to your equipment.
- 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.
