A Rise in Farm Theft
Whether it’s surging commodity prices, economic upheaval because of COVID-19 or other factors, there has been an uptick in rural theft and vandalism. Catalytic converters seem to be the item of choice for thieves.
Why Catalytic Converters?
From July 1, 2020, to June 30, 2021, catalytic converter theft grew nearly 293% nationwide. The number of catalytic converter thefts reached more than 18,000, which is up from just over 4,500 the year prior.
Catalytic converters contain various precious metals that are climbing in value and can be taken in just a few minutes. According to the National Insurance Crime Bureau, unscrupulous recyclers will typically pay $50 to $250 to a thief for a catalytic converter to get to the valuable metals. Unfortunately, the repair bill for victims typically runs $1,500 - $4,000. As of September 10, 2021, the price of copper was $4.45 per pound. Just five years ago, prices were only $2 per pound.
Only Cars Are Affected, Right? Wrong.
The theft of materials and items with inflated values is starting to spill over into solar panel systems as well. Historically, solar panel arrangements were low-value targets and are better protected, but they are being hit for copper wire theft more frequently. Irrigation pumps and electrical panels are also popular targets for thieves.
While completely preventing these types of crimes isn’t possible, taking a few simple steps can deter criminals and help make your business a more difficult target. Law enforcement agencies encourage farmers to implement the “three D’s” in an effort to reduce crime: Deterrence, Detection, and Delay.
Deterrence, Detection, and Delay
Deterrence strategies include lighting, gates, cables across field lanes, fencing, no trespassing signs, and security systems. In addition, consider placing a serial number, or some other identifiable markings, on equipment to assist law enforcement in identifying the owner.
Detection techniques employ a system to alert you when someone enters your property. This can include dusk-to-dawn lights, lighting on timers, lights with motion detectors, cameras, or other sensors. It could also include visual surveillance by employees and or neighbors.
Delay is another technique that can diminish a thief’s opportunity. Anything that slows access to your property, equipment and livestock protects your assets. This may include cables across field lanes, fencing, locking doors on equipment and shops, and parking equipment away from public viewing when left in fields overnight.
Take Action
Stay alert and report all crimes to your local authorities. If you need more suggestions on protecting your property, give us a call. We are committed to mitigating risk for our clients.
Written by Blane Adams, Accredited Advisor of Insurance, Associate in Captive Insurance.
