Theft of valuable electronics is a reality South Africans cannot escape. According to a study by Bryte Insurance, theft and theft by force account for two of the three biggest threats to businesses with regards to crime. According to the latest crime statistics, more than 228 000 home burglaries occurred in the 2017/2018 year. While, these do not indicate what percentage were electronics, it can be confidently assumed that a fair amount were indeed electronics.
It is for this reason that many households and businesses have insurance policies for their valuable assets. While this protects you against the full cost of the loss, do not be mistaken about the further toll theft has on businesses or homes, cautions the managing director of Legratron Electronics, Itumeleng Matshego. “There are excess payments and negative impacts on your insurance profile. Claims can raise your premiums and cause you to lose no-claim bonuses.
“The loss of data that goes with the theft of laptops can be even more incapacitating than the financial loss. International statistics say that as much as 75% of small businesses do not have a disaster recover plan. While it is something we should all do, the truth is many of us can neglect to back-up as often as we should. Further stats say that more than half of businesses fail as a result of this loss,” says Matshego.
Additionally, underinsurance is a massive problem in South Africa. “It is estimated that as much as 50% of South Africans have no insurance whatsoever. For these individuals, the loss of electronics can be financially devastating. Replacement costs soar into the thousands.”
This should lead South Africans to ask themselves whether they can afford the theft of their valuables, even those with insurance. “The loss of electronic valuables has many other, far-reaching, consequences. Consequences that are not easily resolved without financial resources and professional data recovery plans that are 100% up-to-date.
“If stolen items could be recovered, the financial loss, challenges to business continuity and hassle can be considerably reduced. Without the correct team behind you, however, this is impossible. It is for this reason that Legratron Electronics has ensured that their tracking and recovery system can be used in electronics as well. We aim to empower businesses and individuals to recover their items, rather than just accept this loss as par for the course. South Africans can empower themselves against theft,” says Matshego.
There is little that ordinary South African can do to prevent themselves from becoming a victim of crime. There are, however, choices that you can make to reduce the toll that this can have on you, financially or otherwise.