Stay connected
Subscribe to our Inside WEX blog and follow us on social media for the insider view on everything WEX, from payments innovation to what it means to be a WEXer.
"*" indicates required fields
The fleet industry has faced its fair share of challenges in recent years – from fluctuating fuel prices to lingering supply chain disruptions. But one issue in particular is seeing a spike – cargo theft.
Cargo theft has been rattling the fleet industry nationwide. In 2023, freight security network, CargoNet, reported a 59% increase in cargo theft incidents compared to the previous year. They reported that over $31 million worth of goods were stolen.
The FBI also estimates that cargo theft costs trucking companies and retailers anywhere from $15 billion to $30 billion a year.
While cargo thieves tend to target larger freight and transportation vehicles, fleets of all sizes are still vulnerable to theft. The report identifies warehouses, distribution centers, and truck stops as the top targeted locations for theft.
So whether you operate a delivery service, transportation company, or any business reliant on transporting goods, protecting your assets against theft should be a priority.
Equip your vehicle with state-of-the-art security systems such as:
Trustworthy drivers and security protocols are essential to ensuring the safety and security of your vehicles. Other things you should consider are:
Your drivers should park in secure areas with surveillance cameras whenever possible. If you own your storage facility or parking area, make sure to install enough lighting and surveillance cameras to discourage criminal activity. The safest storage areas should be securely locked and preferably gated.
When instructing your drivers to stop at a truck stop, stress the importance of always locking their vehicles and carrying the key with them when stepping away from their vehicle. For overnight parking, advise them to choose well-lit, heavily trafficked areas with enough surveillance and pedestrian presence.
Using a route planning software to create delivery routes can allow you to monitor your vehicle in real-time and avoid high risk areas known for cargo theft. Monitor your vehicles to ensure they adhere to planned routes and schedules. Leverage available tools and software that give you more control and information while drivers are en route.
Regular vehicle maintenance is an important part of fleet safety. Implementing a proactive maintenance schedule ensures that trucks are in good condition, reducing the risk of breakdowns and accidents. Also make sure your drivers have a system for reporting vehicle issues before they become a problem. Inspect trailers and cargo containers for signs of tampering or unauthorized entry before each trip.
Insurance coverage is a fundamental part of operating a business with a fleet of vehicles, especially when it comes to protecting against the threat of cargo theft. Here are some factors to consider when choosing an insurance plan:
Your community can help spread awareness for potential threats and be an added layer of protection on the road. Share information and collaborate with other businesses and law enforcement agencies to stay informed about any emerging threats.
Many communities have online portals, email newsletters, or apps where members share information or report suspicious activity. Whether it’s forming neighborhood watch groups, participating in community events, or volunteering for local initiatives, building relationships within your community can create a resilient support system that not only protects your business but also strengthens the fabric of the entire community.
Learn more on how to better manage your over-the-road fleet:
To learn more about WEX, a growing and global organization, please visit wexinc.com.
All fleet cards are not the same, and different types of fuel cards suit the needs of different kinds and sizes of businesses. View WEX’s fleet card comparison chart to see which fleet fuel card is right for you.
Source:
CNBC
CargoNet
Subscribe to our Inside WEX blog and follow us on social media for the insider view on everything WEX, from payments innovation to what it means to be a WEXer.
"*" indicates required fields