Inflated jewellery valuations (Apr 01)

High Street jewellery valuations are grossly exaggerated, finds the Loss Management Group.

The Bath-based jewellery claims specialist has warned that insurance companies could risk losing business if they use these inflated valuations to calculate premiums.

Group managing director Tony Le Fevre said high street jewellers often inflated valuations by up to 100% because they wanted to show customers who have just bought jewellery “what a good deal they’ve had”.

The company advises to opt for a valuation from a third party who will not have a vested interest in inflating the price.

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