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How to Create a Fleet Asset Theft Plan

Posted by Wilmar, Inc.


Have you ever thought of how much loss you would suffer when one of your vehicles gets stolen?

Let's think through this together:

You lose the vehicle plus all the goods it was carrying. That's not all –there is a loss in productivity and revenue because you are short of vehicles. And your insurance company might not compensate you fully for all the losses. 

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The good thing is that you can avoid all these losses with a custom fleet management system that includes a reliable fleet asset theft plan.

So, how do you create a fleet asset theft plan? Keep reading to learn more.

5 Tips for Creating an Effective Fleet Asset Theft Plan

You cannot predict the future, and since incidents will always occur, you are better off with a fleet asset theft plan. It acts as a reliable framework to assist you in quickly getting everything back on track in case of an incident.

Here are simple tips to help you create a robust asset theft plan that will guarantee the continuity of your business:

1. Install a Tracker in all Your Vehicles

Businesses across the world are losing a lot of money whenever their vehicles get stolen. For instance, a report by the National Highway Traffic Safety Administration revealed that in 2017 alone, companies lost around $6 billion. The worst part is that it is hard to recover stolen vehicles, especially without a GPS tracking device.

The best tracking device should give you real-time data –movement and location – of your vehicle. With the help of professional telematics solutions, you can accurately locate your lost vehicle. Besides tracking your vehicle's location, installing a GPS in your fleet would scare away thieves. 

2. Keep Updated Records

Updating all your records is one of the most critical steps in accounting and recovering losses whenever goods and vehicles are stolen. Often, you would need to have descriptions of all the items stolen. Manufacturers' information, receipts, and serial numbers are some key aspects to consider during this exercise. 

Keeping your records up to date will save you a lot of time in case of such an incident. It will help you report the lost goods to your customers and the insurance company when needed.

3. Empower Your Team

One of the best ways to avoid theft in your company is by maintaining an empowered team. Create a communication plan that embraces openness between you and your team and amongst the team members. 

Start by training your team, especially the drivers, about theft and how to respond to theft incidents. Also, teach them how to take stock and record supplies. Lastly, empower everyone in your team to be responsible. This way, you are assured that your team will be willing to report if anything is suspicious in the company. 

4. Set Up the Necessary Alerts

Most fleet managers are turning to fleet technology to enhance their operations. Technological advancement now makes detecting unauthorized vehicle movement easy, mainly where your fleet follows specified routes. 

Setting up alerts to help you detect such incidents is one reliable way to avert theft scenarios because you get instant notification whenever your vehicle makes an unauthorized movement.

5. Follow Your Plan 

Setting an asset theft plan is one thing, and sticking by it is another. The right asset theft plan will help you prevent theft in your company and boost your confidence when making decisions within your company in the event of an emergency. Therefore, ensure you are committed to your plan, as this is the only way to guarantee efficiency. 

Get Started with a Reliable Fleet Asset Theft Plan Today

In conclusion, managing your fleet successfully requires a careful plan –both in the present and future. With the right fleet management system, you can easily monitor and track your assets with guaranteed access to real-time alerts and insights. 

So, what are you waiting for? 

Engage the Southeast's most significant independent fleet leasing and management company –Wilmar, to help you keep your fleet protected against theft and other possible wrongdoing. Headquartered in Charlotte, North Carolina, we are ready to work with you to create an asset theft plan customized to your needs. Contact us today to learn more about our fleet management solutions.

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Topics: Fleet Management, Fleet News, Misc


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