Having a construction security guard and the occurrence of theft in the premises might decrease insurance cost. Many larger constructions require heavy machinery and if the rental firms discover that their valuable property is not secure, they may be reluctant to rent their equipment.
Now a days, construction security officers are considered crucial in the industry which has over a billion dollars in losses due to theft. Everyone is affected when there is a theft, starting from the contractors all the way to the insurers. Thieves are finding that construction sites are an easy target for the theft of copper, machinery, and other valuable merchandise. Vandalism and theft are two security risks to be concerned about on construction sites.
Lost productivity, missed project deadlines, slipped completion dates and the consequential penalty fees, plus high re-insurance premiums all impact the bottom line and put a strain on the budgets.