Businesses of all industries have been hit hard by a growing wave of thieves in search of copper and copper wiring. Restaurants, retailers, office buildings, contractors, and more have all been victims of this specific kind of crime due to the soaring price of scrap copper among recyclers and scrap yards. Because copper wiring is often found in electrical and HVAC systems, their theft can result in high repair and replacement costs for companies as well as possible revenue losses from the resulting temporary closures. In today's Aegis blog post, we discuss ways to help prevent copper wire theft from your commercial building and surrounding property.
Secure Copper Wires and Materials
One of the best ways to prevent copper theft or significantly slow down thieves is by storing copper and copper wiring in locked and secure locations. Ideally these should be stored inside a building and within a locked room or storage warehouse. Also, no copper components should be left behind in commercial vehicles or other easily accessible areas because it can be easy for thieves to find and steal these valuable materials. For outside areas such as HVAC systems and electrical boxes, these should be well secured with heavy-duty locks around the perimeter to deter criminals and reduce damage and loss for commercial property.
Added Lighting and Fencing
In addition to storing copper in secure locations and using heavy-duty locks, companies can also add another layer of protection to their commercial property by adding more lighting and fencing across the site. Additional lighting can illuminate the property in a way that makes it much harder for thieves to go undetected, and also has the added bonus of making the property safer for customers and employees. For example, a restaurant or retail store can add more exterior lighting to make it easier for customers and staff to make it to their vehicles safely at night, and also make it easy to identify a suspicious person on the premises trying to steal copper or other components. Adding fencing can provide a more secure perimeter and slow down individuals who could cause substantial damages and losses.
Install Video Surveillance System
Criminals will often target a property during off-times such as evenings, weekends, or holidays when there are not likely to be employees or customers on site. For this reason, the installation of a video surveillance system can be a major deterrent for thieves planning to search for copper or copper wiring on commercial properties. In addition to helping prevent potential burglaries and the property destruction that often comes with copper theft, video surveillance can also help law enforcement officials identify those who are suspected of theft or other crimes. Also, video evidence can be very helpful during the claims process for businesses who are burglarized for their copper materials, as it can identify the property stolen and if other items are taken, damaged, or vandalized.
Have Quality Commercial Insurance in Place
Even with all these steps in place, determined thieves may still find a way to steal copper or other valuable parts and property from your business, and in these instances, having quality Commercial Insurance policies in place is the best way to protect your business. Companies can protect against lost, stolen, or damaged property with Commercial Property Insurance, and closures due to theft or damaged property may be covered under Business Interruption Insurance. Having the right kind of Commercial Insurance in place can be the difference between quickly recovering from a theft or loss, or losing substantial revenue because of lengthy and expensive closures and repairs.
Copper theft is a growing problem for many businesses that are still trying to recover from Covid-19 closures and losses. Proactive steps done now can help protect the growth and success of a business and allow them to focus on what matters most, and avoid the costly repairs and headache of a copper theft. Aegis Insurance & Financial Services is also here to help companies take proactive steps in protecting their business future by providing a full range of comprehensive Commercial Insurance coverage, tailored to the unique needs of specific industries. Contact Aegis today at 713-850-7622 for more information, or fill out our online form to request a free quote!