Asset Tracking GPS: What to Track, What It Costs and How to Stop Losing Tools

Tool theft can cost you more than the price of replacing a drill or saw. A missing kit can mean a cancelled job, lost working hours and time spent dealing with police, insurers and suppliers.

GPS can help you locate vehicles and larger mobile assets. But it is not the right answer for every screwdriver, battery or hand tool. The best approach combines GPS tracking for the assets that move and matter most with simple records that show who has each tool.

What does GPS asset tracking do?

A GPS tracker calculates a device’s position using satellite signals. It then sends location information over a mobile network to an app or online platform, where you can view a map, check recent movements and, depending on the system, set alerts.

For a small business, that can help answer practical questions:

• Where is the van, trailer or machine now?
• Has an asset moved outside working hours?
• Did a vehicle reach the job site?
• When was it last reported?

A GPS location is not the same as a live view of every tool inside a van. If a toolbox is not individually tracked, GPS can show where the van or toolbox is, not confirm which tools are inside it.

Direct Line for Business reported 25,525 tool theft cases in 2024, around 70 a day. Almost half, 12,414 cases, involved tools stolen from a vehicle. Its estimate of the value stolen was approximately £40 million. The figures were based on usable data from 29 of 45 police forces, so treat them as an indication of the scale of the problem, not a complete count. Read the report and its methodology.

What should you track?

Match the tracking method to the size, value and movement of the asset. You do not need a GPS tracker on every item.

Use GPS for high-value mobile assets

GPS is often most useful for assets that move between sites, are difficult or costly to replace, or would stop work if they went missing. Consider tracking:

• Vans, cars and motorcycles
• Trailers and mobile storage units
• Generators, compressors and larger machines
• High-value equipment cases or complete tool kits

A GPS tracker can help you see movement and the last reported location. It may support recovery, but it cannot guarantee that an asset will be found.

Use labels and a register for individual tools

For drills, batteries, testers and hand tools, start with an asset ID and a QR code or barcode. Record each item’s make, model, serial number, purchase date, value and condition. Add a photo and note any accessories that belong with it.

Then link each tool to a person, van or job. That gives you an answer to the everyday question GPS cannot: who last had it?

For lower-value items, group tools into standard kits and record the kit’s contents rather than trying to track every item separately.

Consider Bluetooth for nearby finding

Bluetooth tags can help locate small items within range of a compatible phone, scanner or gateway. They are not the same as GPS: they generally rely on a nearby device and do not provide the same long-distance location reporting. Check the tag’s range and how its app works before relying on it.

What does asset tracking GPS cost?

Your total cost depends on the tracker, how it is powered, the reporting frequency, the service plan and whether installation is needed. For a rough UK comparison, supplier pages checked for this article listed examples of £45 hardware plus £9 a month and £59 hardware plus £6.99 a month. On those examples, one tracker would cost about £153 or £142.88 respectively for the first 12 months, before any applicable VAT.

These are examples, not a standard market rate. Some providers bundle hardware and service; others charge separately or require a contract. Check the full terms, including VAT, coverage, battery life, replacement costs and what happens when the tracker goes offline. See MTS’s published pricing and Smarti’s asset tracker plans for examples.

For ten assets, those two examples work out at roughly £1,429–£1,530 for the first year, before any applicable VAT. That may be worthwhile for ten expensive machines or trailers. It is likely poor value for ten low-cost hand tools.

DrivePro’s own Plug and Go GPS tracker is listed at £79.99 with 12 months’ service included. It is designed to plug into a vehicle’s accessory socket, so it is a vehicle-tracking option, not a tracker for individual tools or a standalone toolbox. Check the product page for current price and terms.

Work out whether the cost makes sense

Before buying, estimate the likely cost of losing an asset:

1. Add its replacement price to the working time lost while you arrange a replacement.
2. Include possible delays, missed appointments and administration.
3. Compare that cost with the tracker’s full first-year price.
4. Start with your most important assets and review whether the system is useful after a few months.

How to build a practical tool-loss plan

1. Create a master register

Give each valuable tool or kit a unique ID. Record its serial number, description, photo, purchase evidence, replacement value and normal storage location. Keep a copy somewhere separate from the van or workshop.

Marking tools and keeping identifying details can also help establish ownership if property is recovered. The Metropolitan Police’s property-marking guidance explains the value of marking and recording belongings.

2. Make sign-out and return routine

Use a simple scan or sign-out record to capture:

• The tool or kit ID
• Who has it
• The van, site or job it is assigned to
• When it was issued and when it is due back
• Whether it was returned in good condition

A standard contents list for each van makes checks quicker. When a worker changes vans or hands a tool to a colleague, update the record at the same time.

3. Set alerts for meaningful events

For GPS-tracked vehicles or assets, consider alerts for movement outside working hours, leaving a storage area or entering a job site. DrivePro explains how geofencing and location alerts can be used to monitor vehicles entering or leaving chosen areas.

Choose alerts that someone can act on. Too many notifications can become background noise, so make one person responsible for checking important alerts and following up.

4. Combine tracking with physical security

Tracking supports security; it does not replace it. Where practical, remove expensive tools from vans overnight. Lock tools in a secure case, park in a well-lit place and follow your insurer’s security requirements. Do not confront suspected thieves yourself.

If theft occurs, report it promptly and provide the police with serial numbers, photos, proof of ownership and any relevant location information. A tracker can help you share a last known position, but signals may be delayed or unavailable indoors, underground, inside metal enclosures or where mobile coverage is weak.

Is GPS right for your tools?

Use GPS where the asset’s mobility and replacement or downtime cost justify the ongoing fee. Use QR codes or barcodes to identify individual tools and record who has them. Bluetooth may suit nearby finding, while a GPS tracker on a van or larger asset can give you location and movement information.

For vehicles, DrivePro’s GPS tracking products include options for monitoring vehicle location, journeys and geofence alerts. If you are unsure which setup fits your vehicle or business, visit the DrivePro help page or contact the team through the website’s live chat.

Track the assets that matter, label the tools you use and make every handover count. Need help choosing a GPS tracker for your vehicle? Talk to DrivePro: we’re happy to help.