Pair and set clause?

[Quinn]

What is a pair and set clause when insuring diamond earrings?

[Bearman]

What is a pair and set clause when insuring diamond earrings?

My understanding of a pair and set clause is when someone loses one earring and not the whole pair, if it can't be matched for some reason, the insurance company will pay for a whole new pair.

If it does not have the pair and set clause, the insurance company only has to pay for the one earring.

I'm sure this will have many different interpretations if you ask more than one insurance company, but it seems to make sense.

This is not necessarily gospel, just my meager understanding.

[Quinn]

Is this clause more beneficial for the owner of the earrings if the earrings are something difficult to match such as fancy colored diamonds? I would assume that most white diamonds can easily be matched. This clause does add costs.

Is it worth the cost for colored stones such as alexandrite of larger sizes?

[Kelly]

I bet the insurance agencies go crazy over lost earrings. I lose at least two earrings a year. That is one out of each set. That is why I don't invest much in earrings. I have very long hair and it will wrap around the earrings and before you know it one has disappeared. I know that if I had these insured my rates would be sky high with all of the claims I would be submitting.

[Bearman]

I bet the insurance agencies go crazy over lost earrings. I lose at least two earrings a year. That is one out of each set. That is why I don't invest much in earrings. I have very long hair and it will wrap around the earrings and before you know it one has disappeared. I know that if I had these insured my rates would be sky high with all of the claims I would be submitting.


They wouldn't be sky high for too long, you would probably get cancelled.

Speaking of insurance on jewelry, Jewelers Mutual does just jewelry.
This would mean that if you have continued jewelry losses, you will probably still get cancelled but it would not affect your homeowners insurance.

Worth thinking about.

[Kelly]

Can you have your homeowners policy cancelled for too many claims for loss of jewelry????? :eek:

[Feydakin]

I don't think that they can cancel your home owners for too many claims on jewelry, but they would probably stop covering the jewelry and raise your rates.. But I would ask an insurance agent that question.. Then get the answer in writing..

As for pair and set clauses.. I just finished a pair of earrings that are like this.. There is no way we would ever be able to find an exact match for the rubies so if she looses one, we'd have to turn it into a ring or something..

http://www.imagesontheweb.net/galleria/albums/userpics/10002/thumb_1015.jpg

[Quinn]

What a pretty pair of earrings Feydakin. I love the color of the rubies and how the diamonds augment them so well! Nice balance. :)