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The true cost of truck theft

28th October 1993
Page 54
Page 54, 28th October 1993 — The true cost of truck theft
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Which of the following most accurately describes the problem?

ENITS, a family-run haulage company of 13 years, had two tractor units stolen from a fleet of 14 on Friday 1 October this year, (see Crimeline page 33).

The standard comment from customers and other hauliers—in particular the smaller companies—has been well you are insured aren't you?" The answer to this question is yes, but there is no insurance cover for the extra hidden costs : • The vehicles were stolen on the first of the month— therefore casting one full month's road tax; • Full tanks of diesel at least 455 litres (100 gallons); • Speed limiters were fitted within the previous two months; • One unit had recently had six new tyres fitted; • Sundry equipment, such as load restraint straps, locks, first aid and fire equipment; • Drivers personal belongings including maps, sleeping kit, TV, radio/CB; • The prospect of higher insurance premiums next year; Finally and most importantly, the problems it caused us to provide the service to the customer for booked delivery of goods .

There is also the loss of wages for the driver unable to work through no fault of his own.

Any vehicle can be replaced, but not immediately, not always in the same condition and rarely in the same livery as when it was stolen.

Insurance claims take time to pay out, therefore replacement vehicles have to be funded from elsewhere. If vehicles are on finance, the payments have to be made.

Had the Royal Bank of Scotland not supported us, our company would have been in a far more serious position than we are at present. Such a loss could have easily put a smaller company out of business.

Any company can plan for vehicles to be off the road for servicing/repairs, but it is impossible to allow for losses.

Eric Valiance

Managing director, EVTS, Blackpool, Lancashire.

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