Equipment Type

18 Ways to Save Money & Stop Equipment Theft

Premium discounts, waived deductibles, and free insurance for companies that take steps to stop machine thieves

October 16, 2009

1  Hanover Partners with Celevoke to Recover Stolen Construction Machines
The Hanover Insurance Group Inc. entered a partnership with Celevoke Inc. to offer Celevoke's proprietary asset-tracking systems and risk-mitigation services to The Hanover's inland marine customers at a significant discount.

"We are very pleased to partner with Celevoke to offer our agent partners one more way to provide value to customers," said Sophia Philips, president Hanover marine, commercial lines. "We believe our policyholders that participate in this program will significantly reduce the risk of both the theft and loss of their expensive equipment."

The Celevoke system can be fitted to most construction vehicles in a way that is not obvious or easy to remove.
In addition to discounts on Celevoke's GPS devices, The Hanover's policyholders will gain access to a risk-prevention Web site where they can monitor and manage equipment outfitted with Celevoke devices in real-time. Arming equipment owners with instant notification of a theft and the ability to track the equipment is proven to lead to quick recovery with less related loss.

2  Hiscox Waives Deductible for NER-Registered Machines
NER is offering a 20 percent discount on HELPtech service to equipment owners insured by specialty insurance provider, Hiscox. And Hiscox will offer a deductible waiver of up to $10,000 if clients fail to recover stolen equipment that they had registered with NER prior to a theft.

“Theft losses are a key loss driver for construction and mobile equipment,” says Steve Silverman, Hiscox vice president of inland marine. "We find that insureds willing to take a few extra steps to protect their equipment and enhance the opportunity for recovering stolen property can improve their loss experience dramatically and ultimately reduce the cost of construction- and mobile-equipment coverage. It’s a win-win proposition for insurers and their customers.”
 

3  AXiA Clients Get 20% Off NER’s HELPtech Service
One of the latest agencies to announce an alliance with NER is the Massachusetts-based insurance broker, AXiA Group. AXiA clients can receive a 20 percent discount off NER’s HELPtech service, and the brokerage staff will have full access to NER’s equipment industry expertise and contacts.

4  Travelers Inland Clients Get Discounted GPS Vehicle Tracking
Travelers Inland and its Risk Control unit have announced development of an initiative with Celevoke Inc. that will allow Travelers customers the ability to purchase Celevoke’s LunarEYE Wireless Asset Tracking and Control systems at a discount.

"Travelers Inland is well aware that theft is a regular occurrence that plagues heavy equipment owners and trucking companies across the country," said Joseph Tracy, chief underwriting officer, Travelers Inland.

"Working with Travelers is a significant development for our company, and we look forward to assisting Travelers and its insureds in reducing theft losses," added Chuck Allen, chief executive officer, Celevoke.

Additionally, Celevoke will develop a secure website that will allow Travelers’ insureds to track, monitor and manage the equipment outfitted with Celevoke’s proprietary GPS devices on a daily basis. In the event of a theft, the ability to track equipment can lead to quick recovery. 
 

5  OneBeacon Waives Deductible for NER-Registered Machines
If
OneBeacon-insured equipment that is registered with the National Equipment Register's HELPtech database is stolen and not recovered, OneBeacon will waive the customer's deductible, up to $10,000, provided the owner has reported the theft to law enforcement.

By joining forces with companies like National Equipment Register, we can offer our customers in the construction industry the added comfort of a proven, reliable solution for protecting critical assets," says Don Keahon, OneBeacon's national inland marine manager.

6 & 7  
Insurance Agencies Offer Discount on NER Theft-Prevention Service
 
To help clients fight equipment theft, two insurance agencies serving Missouri, Washington and Alaska offer a 20-percent discount to their customers on NER’s HELPtech construction-equipment registration service. Employees of Missouri-based Barker Phillips Jackson and Washington-based Parker, Smith & Feek will also have access to
NER’s equipment-industry expertise and contacts to use in support of their clients' efforts to stop equipment theft and recover equipment.

With an office in Bellevue, Wash., and another in Anchorage, Alaska, Parker, Smith & Feek is one of the largest privately owned insurance and risk-management brokerage firms in the nation. The firm is also a partner of Assurex Global, the world’s largest privately held risk-management and insurance brokerage. 

Barker Phillips Jackson is one of the largest and oldest independent insurance agencies in southwest Missouri, with offices in Springfield, West Plains, Rolla, and St. Robert.

8  OneBeacon Policyholders Save 34% on Titan GPS Security
OneBeacon Insurance policyholders can purchase an unlimited number of DPL America's Titan Equipment Monitoring System at a $525, a savings of 34 percent off the usual price of $799 for 1 to 10 units, and a 30-percent discount off the usual $749 per unit for 11 to 50 units. The collaboration offers equipment owners powerful theft protection that reduces the risk of loss.

The GPS-based Titan Equipment Monitoring System enables equipment owners to instantly locate and remotely shut down equipment. The system can also be programmed to immobilize equipment for predefined periods, and it will send alert messages via mobile phone and email to an unlimited number of people if the asset is moved or someone attempts to start it.

"Over 50 percent of equipment losses in the construction industry are due to theft; so, by reducing that factor via the TITAN system, we can help reduce the loss exposure significantly for both the equipment owner and the insurer,” says Tony Nicoletti, director of North American sales for DPL America. “Titan collects data remotely and transforms it into practical information for intelligent business decisions. For the equipment owner, it is the complete tool for increasing asset profitability and productivity while reducing the costs and risk of theft."

9 & 10
Allied Insurance Waives Deductibles for Registered Equipment
Every year millions of dollars worth of heavy equipment is stolen. Now, Allied Insurance Brokers' clients have a new advantage in the event of equipment theft. Allied has partnered with National Equipment Register (NER), a national database of ownership that helps authorities track down stolen equipment, to provide clients with theft-deductible forgiveness in the event their equipment is stolen. 

Fireman's Fund Rental Equipment Dealer Program administered by Allied Insurance waives their insured’s theft deductible up to $10,000 if the stolen equipment has been registered on the NER database prior to the theft. In addition, American Rental Association (ARA) members have the opportunity to register up to 1,000 pieces of mobile equipment with National Equipment Register at no cost.

For more information visit: www.alliedinsbrokers.com

11  ACE USA Waives Deductible for NER-Registered Machines
In August, ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, announced that its inland marine unit has allied with NER. Under the terms of the alliance, ACE USA will waive the deductible up to $10,000 for its Contractor’s Equipment coverage for policyholders who have their equipment registered with NER.

The owners must register the equipment before a theft and must report any such theft to law enforcement. For a small fee per machine, per year, owners can securely and confidentially register their entire fleet of equipment with NER and receive warning decals to deter theft.

"We’re pleased to participate with NER in this program to help our insured contractors mitigate the increasing risk of equipment theft,” says Bruce Jervis, senior vice president, ACE USA Inland Marine. “This opportunity allows ACE USA to encourage and reward our customers to use this extra layer of protection. At the same time, it provides innovative risk-management solutions to meet the evolving needs of the construction industry.”

12  Thomas Rutherfoord Teams with NER to Help Clients Combat Theft
Thomas Rutherfoord Inc. entered a new alliance with NER that will help Rutherfoord’s construction clients address the growing problem of equipment theft. Rutherfoord, a management and insurance brokerage firm with headquarters in Roanoke, Virginia, and nine offices throughout the mid-Atlantic region, will now register its construction clients’ equipment with NER’s HELPtech database.

“We’re excited about our new alliance,” says Rob Stiles, Rutherfoord senior vice president and division manager. “Our clients will receive a discount on NER’s HELPtech service, and our staff will have access to NER’s expertise and industry contacts. The agreement puts Rutherfoord in a better position to advise our clients on equipment theft risks and solutions. The HELPtech service will also reduce our clients’ total cost of risk, since many insurance companies waive the deductible up to $10,000 for theft claims involving equipment registered with NER.”

“We’ve seen an increased demand from equipment owners for additional value-added services,” says Michael St. Hill, NER’s director of insurance services. “Rutherfoord’s agreement with NER shows the company’s commitment to being on the cutting edge of industry solutions and providing its clients with the best possible programs.”

To learn more about Thomas Rutherfoord, Inc., please visit www.rutherfoord.com

13  Compass Insurance Aligns With NER to Fight Equipment Theft
Houston-based Compass Insurance Agency Inc. entered a new agreement with NER that will help its clients combat the growing and costly expense of equipment theft, the insurance company announced earlier this summer.

Through the collaborative effort, Compass Insurance clients will receive a discount when registering their equipment with NER’s HELPtech database. In addition, Compass Insurance staff will enjoy NER’s expert support on equipment theft matters.

Compass Insurance Agency Inc. is among the top 40 largest agents and brokers in the United States, with offices in Texas, Arizona, Colorado, and Alabama. Compass Insurance clients benefit from the resources available to them through the company’s relationship with its parent organization, Compass Bank.

14  Hanover Waives $10,000 Theft Deductible For NER-Registered Equipment
The Hanover Insurance Group Inc. will waive up to $10,000 of an inland marine policy’s deductible if a piece of construction equipment registered with the National Equipment Register is stolen and not recovered within 60 days. At the same time, The Hanover’s inland marine policyholders also will receive a 20 percent discount on NER’s theft prevention and equipment recovery services.

NER enables equipment owners to register each piece of equipment’s serial number in a national database, giving police the ability to quickly identify the owner of a piece of stolen equipment through a 24-hour hotline. Warning decals are provided to registered machines to caution thieves of the dramatically increased chances of being detected while moving, storing or selling equipment.

“We know the customer is the first line of defense against theft, and that offering strong loss prevention incentives is the key to keeping theft down and minimizing risk for our policyholders,” said Sophia Phillips, vice president commercial lines/inland marine at The Hanover.

David Shillingford, president of NER noted that, “NER has been able to develop a range of services that are making life riskier for equipment thieves. In a recent case, a stolen backhoe was stopped from crossing the Mexican border because it was registered with NER, even though the owner had yet to report it stolen. We look forward to helping policyholders of The Hanover in this way.” 

15  Chubb Waives Deductibles for NER-Registered Equipment
Insurance companies routinely register equipment thefts with the National Equipment Register. In response to the rising cost of equipment thefts, The Chubb Group of Insurance Companies is making it easier for policyholders to register heavy contractors equipment with NER before a theft occurs. Chubb will pay the cost of registering the first 10 pieces of equipment. NER registration fees for items over the initial 10 will be reduced by 20 percent for Chubb policyholders. Also, Chubb will waive insurance deductibles of up to $10,000 for stolen equipment registered with NER not recovered within 30 days of being reported stolen to law enforcement authorities.

Through NER’s secure and confidential online registration, businesses provide descriptions of their equipment and the serial numbers, and this information is stored in a national database. In addition, registrants are given a warning decal for each piece of equipment to help deter thieves.

16  Fireman's Fund Waives Deductibles for NER-Registered Machines
The Specialty Insurance segment of Fireman’s Fund Insurance Company added the National Equipment Register (NER) as one of its strategic alliances. National Equipment Register, a searchable national database of heavy equipment that helps authorities track down stolen equipment, has aligned with Fireman’s Fund to offer discounted rates on products to help mitigate the increasing risk of equipment theft

As a result of its alliance with NER, Fireman’s Fund’s policyholders will receive a 20 percent discount off NER registration fees, and a deductible waiver of up to $10,000 for equipment registered with the NER that is subsequently reported stolen to law enforcement authorities.

NER, whose database contains more than 12 million ownership records and some 78,000 theft reports, is able to help authorities identify the true owner of any registered equipment through its 24-hour hotline. For a small fee per equipment item per year, owners can securely and confidentially register their entire fleet with NER.

17  ARA Pays to Register Rental Equipment
The American Rental Association (ARA) has joined forces with the National Equipment Register (NER), the leader in theft prevention and recovery efforts. NER provides an information network that brings together equipment owners, their insurers, law enforcement and the equipment industry to fight equipment theft. Through this partnership, ARA members may register up to 1,000 pieces of mobile equipment in NER's ownership database at no cost. Both ARA and NER believe the most cost-effective and long-term solution is to make accurate information available to law enforcement when they need it. This partnership will help do that.

18  Qualcomm Registers GlobalTRACed Machines with NER
Qualcomm Inc., a provider of business-to-business wireless enterprise applications and services, is working with the National Equipment Register (NER), the industry specialist in providing heavy equipment registration databases and related information services, to combat the growing challenges of equipment theft and recovery. This is the first time NER has aligned itself with a telematics and equipment management service provider such as Qualcomm. It also is the first time Qualcomm has aligned itself with a security- and recovery-services provider such as NER.

Buyers of Qualcomm's GlobalTRACS equipment management system will be able to register their machines for free, and Qualcomm will automatically register machines at the customer's request. 

NER's database often is checked by companies purchasing used equipment. The combined program compresses the time lapse between being alerted that a machine may be stolen and reporting a theft to the most appropriate law enforcement agency. This time-lapse reduction raises the likelihood of stolen equipment recovery and reduces the costs associated with theft for both owners and insurers.

The GlobalTRACS system collects, organizes and manages equipment use and location data, as well as critical system alerts, such as engine overheat. Information can be accessed via the Web or integrated into existing back-end business software systems. Companies using the GlobalTRACS system can easily spot unauthorized use, identify and re-deploy underutilized and idle equipment and create virtual boundaries with both entry and exit alerts.

Created in 1999, National Equipment Register (NER) manages a national database of heavy equipment thefts and ownership to help equipment owners, the insurance industry and law enforcement identify and recover stolen equipment. For more information about NER, please visit www.nerusa.com.

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