pair-or-set clause
- A stipulation within an insurance agreement allowing the insurance company to either restore a set to its previous value when less than all items in the set are lost, or compensate for the disparity in value before and after the loss
- The policyholder was relieved when he learned that the pair-or-set clause in his insurance policy would cover the value of his stolen collectibles.
- Thanks to the pair-or-set clause, the insurance company chose to replace the lost rare book to maintain the value of the entire set.
- Should any of the vintage wine bottles in the set get damaged, the pair-or-set clause offers a solution for compensating the loss.
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