Final answer:
Partial losses to pairs and sets are covered under the Pair or Set clause in an insurance policy. The insurance company will pay for the cost of repairing or replacing the damaged item, up to the policy limit, while the policyholder is responsible for paying a deductible.
Step-by-step explanation:
Under the Pair or Set clause, partial losses to pairs and sets are covered by the insurance policy. When there is a partial loss, the insurance company will pay for the cost of repairing or replacing the damaged item, up to the policy limit. The policyholder is typically responsible for paying a deductible, which is a fixed amount that they must contribute towards the loss.
For example, let's say you have an insurance policy that covers a pair of earrings. If one earring gets lost or damaged, the insurance company will pay for the cost of replacing that earring, up to the policy limit. However, you will need to pay the deductible as stated in your policy.