Tool thefts have been costing Victorian tradies $20 million a year with over 29,000 tools stolen in 12 months to March 2023, according to the Crime Statistics Agency.

Trade tools are a prime target for thieves due to their high value and easy portability. RACV general manager home portfolio Darren Turner says there are a few practical measures you can take to make your tools less attractive to thieves.

“In your car, store tools in a heavy-duty truck bed or portable toolbox with a strong padlock. If your toolbox is portable, fix it to your vehicle with a hardened steel security chain,” he says.

“Clearly marking or engraving your ID details on tools will make them much harder for thieves to resell, easier for you to report and recover and more likely to discourage theft in the first place.   Your name and driver’s licence number are recommended for the best chance of recovery.”

Tool theft can have a significant effect on sole traders and small businesses. Not only will the tradie have to buy replacements, but they will also not be able to work at full capacity until they potentially spend up to thousands of dollars to replace their tools.

RACV also recommends adding small GPS trackers to your high-value tools so you can track their live location on a linked smartphone app.

“Even if a tradie has insurance cover for their tools, choosing the right insurance is important as it can help to reduce the inconvenience and cost of replacing them,” Darren says.

“Trades-specific insurance from RACV, for instance, can cover tools for loss, damage and burglary. You may also be able to get coverage for your business expenses while your tools are being replaced.