Stolen equipment has left you unable to finish jobs.
Stolen equipment creates both a claim and a delivery problem. Establish what is missing, what cover may respond and the cheapest reliable way to complete committed work.
Corporate Recovery Partners
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The trailer is empty before a booked installation
An electrical contractor discovers that tools and testing equipment have been stolen from a locked trailer. Two installations are booked and replacement equipment would use the cash reserved for wages. The owner needs to report the loss, understand any insurance response and decide which work can still be delivered safely and properly.
Report the incident to police and retain the reference. Record equipment descriptions, serial numbers, photographs, ownership records and the location and circumstances of the loss. Contact the insurer or broker promptly about notification and evidence requirements.
Preserve relevant security records without putting yourself or staff at risk. Do not accuse a particular person without evidence or attempt an unsafe recovery of the property.
Business.gov.au distinguishes burglary, portable equipment and other asset insurance. The relevant cover depends on the actual policy, including location, security requirements, excesses and limits. Ask the insurer to explain what it needs to assess this loss.
Do not assume an accepted notification means the claim amount or payment date is confirmed. Keep possible reimbursement separate from cash presently available.
List the equipment essential for each current job and whether suitable hire or another authorised arrangement is available. Check testing, safety, competence and insurance requirements before using borrowed or unfamiliar equipment.
Compare the total cost of a temporary option with purchasing replacements, including delivery and downtime. Avoid financing a full upgrade simply because the original equipment must eventually be replaced.
Inform affected customers accurately and review notice or variation requirements under the contracts. Agree revised arrangements where possible instead of accepting penalties or promising dates without assessment.
Update the cash plan for replacement costs, ongoing repayments and delayed receipts. Ask lenders or suppliers about appropriate arrangements if the disruption creates a shortage, and document any agreement before relying on it.
