The Guild of Valuers and Jewellers (GVJ) has launched a claims management service to tackle complicated claims.
The GVJ scheme, which provides discounts for insurers, aims to tackle the problems arising from claims for specialised jewellery. Customers will be given the opportunity to purchase a replacement from the store where they originally purchased the item.
It is backed by a nationwide network of jewellers and a database with £350million of jewellery valuations.
The database holds records which identify potentially duplicate claims and ensure that settlement values are not falsely inflated.
GVJ business development manager, Matt Addis said: "It's incredible that some insurers have little option but to accept their customers' opinion on the value of their jewellery.
"This can only be rewarding the dishonest and is costing insurers unknown amounts. If the same policy were adopted in the automotive sector, insurers would be crippled."
