Metal theft is estimated to cost the UK economy around £500 million every year.*
| £500m* ESTIMATED ANNUAL COST OF METAL THEFT TO THE UK ECONOMY | 42%** OF TRADESPEOPLE SURVEYED HAD EXPERIENCED TOOL THEFT | £3,000** AVERAGE PAYOUT, WITH CLAIMS AS HIGH AS £20,000 |
For metalworkers, the risk is not limited to metal stock. Specialist tools and equipment can be expensive, portable and easy to steal.
When the shutters are open
Many businesses operate with their roller shutters open throughout the day for deliveries, collections and vehicle movements. Yet some policies only provide theft cover when the premises are securely closed.
But that is not how a metalworking business operates.
A theft during the working day can still result in significant costs, including stolen tools, damaged equipment, lost production and postponed contracts. Research by Tradesman Saver found that 42% of tradespeople surveyed had experienced tool theft, with the average payout reaching £3,000 and claims as high as £20,000.**
So why would a policy exclude an exposure that is part of the everyday operation?
“At Elitium, we do not think we can call ourselves experts in metalworkers if we only cover the risk when the shutters are down.”
Walk-in theft cover
Walk-in theft cover is an important part of making sure the policy reflects the way these businesses actually work.
It is another reason brokers trust and use Elitium.
We understand the trade, we understand the exposure and we are prepared to provide cover that makes sense.
Have a risk you’d like to discuss? Speak to our UnderRighters.
* Tackling Metal Theft, All-Party Parliamentary Group on Metal, Stone and Heritage Crime. The report estimated the cost to the UK economy at £480 million in 2022, commonly rounded to around £500 million a year.
** Tradesman Saver, Tool Theft Report: https://www.tradesmansaver.co.uk/wp-content/uploads/2026/05/TradesmanSaver-Tool-Theft-Report-1.pdf
All cover is subject to underwriting criteria, policy terms, conditions and exclusions.