I lost my wedding ring worth £500 and made a claim through Halifax Insurance but I am deeply unhappy and disappointed with the options and response we received from them. The options Halifax gave us were a £175 cash settlement or a £500 voucher. The voucher is only valid to use in their 'nominated' jeweller- the high street chain Goldsmith's- instead of the our preferred jeweller where we bought the ring originally - an independent business who design and manufacture the jewellery themselves - which is the primary reason we purchased from them. During multiple phone conversations with Halifax we asked for them to state the specific section of our policy that says we will be unable to get a replacement from our jeweller of choice (i.e using a cash settlement) and no one from the company was able to clarify. In our correspondence attached, Halifax also mention they tried to contact us by phone. They only phoned us once to discuss their decision and when we called back the next day they had already sent a letter saying our complaint had been rejected. I have been left with no choice to complain about Halifax's decision and note the Financial Ombudsman Service's ruling that "the option to replace the jewellery is not properly exercised by offering a policy holder an authority to buy jewellery up to an agreed value at a particular jeweller's shop. That is wrong in principle, although it seems to have become hallowed practice. It is in fact, a denial of true indemnity." We would like Halifax to offer us a £500 cash settlement so we can buy an exact replacement from our jeweller of choice, not a substandard version from the company they get a discount from. We would like the value we are entitled to under their policy. Halifax's decision has cost me time appealing their decision, emotional strain and will cost me money if their decision is not overturned. We insured out belongings through Halifax as we thought they were a trustworthy company and expected to receive assistance should any of our items go missing - as that's why we are paying them - instead we got rudeness, unhelpfulness, inadequate customer service and stumbling blocks making it difficult to simply get a replacement item of exact quality. I have now been left without a wedding ring for many months.