HGV theft costs insurers £500m every year, says Thatcham

Theft of HGVs costs the insurance industry £500m a year, according to the motor insurance repair research centre, Thatcham. It said over 3,000 HGVs were stolen every year and never recovered.

The company has launched a new vehicle security assessment for HGVs to provide insurers with information and advice on how effective security measures are on a range of HGV types and manufacturers.

The assessment will test alarms and immobilisers, entry methods, door and ignition locks, parts markings and other security features, according to Thatcham.

Thatcham said the new assessment was developed in collaboration with Norwich Union.

The assessment results will be published at www.thatcham.org. The company said vehicles from 16 manufacturers were currently listed on the site.