With the clocks going back and darker evenings setting in, new data from Simply Business reveals a seasonal spike in tool theft – a timely reminder for tradespeople to stay vigilant.
In 2024 alone, tool theft cost UK tradespeople an estimated £294 million. While the total number of tool theft claims dropped by 21% in 2024 compared to previous years, the average value of stolen tools surged by 18% – climbing from £2,778 in 2020 to £3,291 in 2024. October was the peak month for tool theft, coinciding with the shift to shorter days.
Regional disparities are stark, with significant variations showing where workers are most vulnerable. East Anglia leads the country accounting for 18% of claims received, followed by the North East (16%) and the Midlands (15%). The Midlands saw the sharpest rise in average claim value over the past five years, up 62%, followed by Scotland (53%) and the North East (45%). Despite accounting for just 3% of all claims, Scotland records the highest average loss per incident (£3,342 per claim), highlighting how the financial impact of theft can vary significantly across the UK.
Julie Fisher, UK CEO of Simply Business, comments: “We know that behind each tool theft claim is a tradesperson who’s had their livelihood disrupted. We insure over 300,000 thousand tradespeople in the UK and we understand how devastating tool theft can be for each and every one of them. We’re committed to helping tradespeople protect their livelihoods so they can run their business with peace of mind.”
