Protect Your Investments and Maintain Current Insurance Premiums
The Hidden Costs of Lost or Stolen Tools
As a contractor, you understand the critical role that tools and materials play in the success of your projects. However, the theft or loss of these high-value items can lead to significant financial setbacks. Insurance claims for stolen tools not only disrupt your workflow they also result in higher insurance premiums, affecting your bottom line.
Loss can come from a multitude of sources, increasingly the crimes are organized with the help of employees or subcontractors. Bad actors have the opportunity to learn where there are control gaps and how best to exploit them. Unfortunately, these types of incidents are becoming more common impacting more than just project schedules.
The Impact of Insurance Claims on Premiums
When insurance claims for lost or stolen property increase, insurance companies respond by raising premiums. This increase reflects the higher risk they associate with insuring your business. By investing in common sense security measures, you can reduce the frequency of these claims and keep your premiums consistent.
Automated access logs, geo-location tracking, tool and equipment reporting can go a long way towards deterring incidents before they happen. Exportable incident reports can ease the burden of documentation if and when they do.
Secure Your Jobsite with BoxLock Solutions
BoxLock solutions are trusted by 25% of Engineering News-Recond’s Top 20 Contractors to Lock Anything, Log Everything and Automate with a comprehensive suite of cellular connected industrial grade padlocks designed specifically for the most rugged conditions. BoxLock’s solutions protect your assets, drive productivity and keep your insurance claims in check:
Security and Access Control
Prevent Unauthorized Access: Ensure only authorized personnel can access locked areas on your jobsite, significantly reducing the risk of theft and unauthorized entry.
Real-Time Alerts:
Receive immediate SMS messages or phone calls when unauthorized access attempts are detected,
Asset Management
Complete Asset Visibility:
GPS Geo-Location and Bluetooth Tool Tracking automatically reports which lock the location of the tool is located and can alert if the tool is missing.Automatic Asset Transfer: BoxLock devices act as a gateway, automatically transferring assets from one secure location to another.
Safety Solutions
Lock-Out Tag-Out (LOTO): Control hazardous energy isolation with a single device logs activity and implements control for your authorized and affected workers.
Real-Time LOTO Status:
Our LOTO dashboard provides energy isolation monitoring from a single point across multiple job sites.
Investing in Security Pays Off
By investing in BoxLock’s security solutions, you not only protect your valuable tools and materials but also demonstrate to your insurance provider that you are taking proactive steps to minimize risk.
This can lead to more favorable insurance terms and help keep your premiums manageable.
Ask your insurance broker how you can save on BoxLock solutions for your business.
