What term refers to compensation for damage that does not consider the deductible or other deductions?

The term that refers to compensation for damage without considering the deductible or other deductions is "agreed price." This concept is typically used in insurance and appraisal situations where both parties—typically the insurer and the insured—come to a mutual understanding regarding the value of a property or the cost of repair. The agreed price represents the total amount expected to cover the damages directly and reflects the full scope of the loss without deductions that may be applied, such as deductibles.

In contrast, the other terms relate to different aspects of valuation or compensation. "Adjustment price" might imply a negotiated figure that factors in various considerations, including deductions. "Market value" generally refers to the price that a property would sell for in an open market and can be influenced by multiple factors, including condition and location, which does not specifically address the issue of complete compensation without deductions. "Replacement cost" refers to the cost to replace an asset with a similar one without considering depreciation but still may have other factors that could impact the final calculation.

Understanding these distinctions is crucial for professionals involved in auto damage appraisal, as it impacts how claims are processed and evaluated. The "agreed price" signifies a straightforward approach to compensation that benefits all parties by ensuring clarity and mutual consent on the damages