⚠️ The False Sense of Security

Many business owners assume their insurance will "take care of it" if something gets stolen.

But when theft strikes—especially equipment or trailer theft—reality sets in :

• “I thought I was covered.”
• “They said it was excluded.”
• “We had to eat the loss.”

If you rely on insurance alone without knowing the details, you’re exposing your business to major gaps, delays, and denials.

This article busts the 5 biggest myths that cost businesses thousands when it’s too late.

🔍 Myth #1: “My Tools and Equipment Are Covered Under My Auto or Trailer Insurance”

Wrong. Most commercial auto or trailer policies only cover the trailer or vehicle itself, not the contents.

That means:

• Your trailer may be covered for theft
• But the $20,000 worth of tools inside? Not so much

🛠️ Reality : You need inland marine coverage or a business property endorsement for tool/equipment coverage.

What to do:

Call your agent and ask : “If someone steals the equipment from inside my trailer, how much am I covered for?”

🔍 Myth #2: “If I Have a Police Report, Insurance Will Pay Out Quickly”

Filing a police report is essential—but it doesn’t guarantee a fast payout.

In fact, most carriers require:

• Serial numbers
• Purchase documentation
• Itemized inventory
• Proof of secure storage

And sometimes: surveillance footage or witness statements

⏳ Reality: Claims can take 30–90 days or more to process.

What to do:

Keep a digital inventory of all major assets with :

• Purchase receipts
• Serial numbers
• Current photos
• Storage location notes

🔍 Myth #3: “My Deductible Is Small—It Won’t Matter”

Many small business owners opt for higher deductibles to keep premiums low.

Example :

• Your trailer is stolen with $17,000 in gear
• Your deductible is $5,000
• And only 70% of the equipment is covered

You’re left paying :

• $5K out of pocket
• Plus $3K uncovered tools
• Total loss: $8,000

💸 Reality : The deductible always applies first—before any payout.

What to do:

Reassess your deductible and ask what theft claims usually cover. You might save more by lowering your deductible than saving on premium costs.

🔍 Myth #4: “If It’s in a Locked Trailer, It’s Automatically Covered”

Insurers look for proof of due diligence.

If a claim review finds:

• The trailer was unlocked
• Keys were left inside a vehicle
• Or no security systems were in place

They may reduce the payout or deny the claim entirely.

🚫 Reality : Insurers are in the business of minimizing risk—not handing out blank checks.

What to do :

Use locks, document your process, and consider GPS tracking. Bonus: some insurers offer discounts for theft-prevention technology.

🔍 Myth #5: “Insurance = Full Recovery”

Even when a claim is approved, you’re often left with :

• Partial value coverage (not replacement cost)
• Months of downtime
• Lost contracts or project delays
• Crew and operational disruption
• Increased premiums next renewal

🧾 Reality : You might get reimbursed for the value, but not the impact.

What to do:

Use GPS tracking to stop theft before it happens—and prove intent for faster resolution when it does.

💡 Why GPS Tracking Closes the Insurance Gap

While insurance is a financial tool, GPS tracking is a prevention and recovery tool.

With AlerTrax or similar systems, you get :

• ✅ Instant movement alerts
• 📍 Real-time tracking
• 🔐 Tamper detection
• 📸 Recovery assistance for law enforcement
• ⏱️ Faster documentation for insurers

Bonus : A GPS recovery can eliminate the need to file a claim at all—keeping your premiums and deductibles untouched.

📦 Insurance Is Not a Substitute for Security

It’s tempting to think “insurance has me covered.” But theft losses usually end up far worse than expected :

🔐 Combine Coverage + Control

Smart business owners use both :

• 📄 Insurance for when the worst happens
• 🛰️ GPS tracking to stop it from happening—or to aid in fast recovery

Don’t leave your livelihood to chance.

🔗 Take Action Today

✅ Review your insurance policy

✅ Ask questions about coverage for contents, theft, and deductibles

✅ Digitize your inventory

✅ Add GPS tracking to every trailer, tool vault, and mobile asset

Your future self—and your bottom line—will thank you.

Visit www.buyalertrax.com to protect what your insurance might not.

It’s not just about being covered.

It’s about staying in control.