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pair or set clause

Provision found in homeowners and commercial property forms dealing with losses involving part of a set or one of a pair. In this case, the insurer can either (1) repair or replace any part to restore the pair or set to its value prior to the loss, or (2) pay the difference between the actual cash value (ACV) of the property before and after the loss.


Links for IRMI Online Subscribers Only: PRMI 10.G; CPI IX.F, IX.M

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