The Insurance Council of New Zealand (ICNZ) has welcomed a new website that could help insurers save money by recovering stolen goods.

The “Stole Me” database allows people to advertise their stolen goods online, making it harder for criminals to dispose of the items.

It also allows prospective buyers to check the origin of secondhand merchandise.

ICNZ spokesman Terry Jordan says the council “fully supports” the free service because it will benefit policyholders and insurers.

“It’s another strategy in reducing the cost of crime,” he told insuranceNEWS.com.au.

The council says burglary and theft cost New Zealand insurers $NZ240 million ($186 million) a year.

The website was inspired by a couple who wanted to publicise the theft of their boat.