Pair or set clause

{
  "id": "MLC-T-INS-002482",
  "term": "Pair or set clause",
  "field": "Insurance and risk management",
  "definition": "A provision in property insurance policies that addresses the valuation of a loss when one item of a pair or set is damaged or destroyed. The insurer is not obligated to pay for the entire set if only a part is lost. Instead, the policy typically pays for the value of the lost or damaged item, or the difference in value of the set before and after the loss.",
  "subject": "Personal Lines",
  "url": "https://mlchart.com/terminology/insurance/pair-or-set-clause/"
}