pair-or-set clause

Definition of "pair-or-set clause"
  1. 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
How to use "pair-or-set clause" in a sentence
  1. 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.
  2. 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.
  3. 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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