Thursday 13th July 2006
Vandals cost UK small businesses £620 million a year, More Than Business has claimed.
The insurer has said that "Van-dalism" makes up a quarter of all UK crimes and affects almost half (41 per cent) of all small business vans every year.
The repercussions of crimes such as theft and malicious damage go beyond the cost of repair (£3,000 on average) and can leave small businesses with serious productivity problems, or unable to work at all for a while, says the insurer.
"Our data reveals that small business vehicle crime costs the UK economy over £620 million a year, but this is just the tip of the iceberg as a significant proportion of crimes go unreported," said Mark Christer, director of More Than Business.
"In fact," he continued, "according to the Federation of Small Businesses, crime against small businesses is reported in less than half of cases."
The insurer pointed out the implications of these figures for small businesses, highlighting the benefits of small business insurance as well as vehicle insurance.
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