Under a stated amount valuation provision, what amount is NOT included when determining compensation for stolen or destroyed property?

Under a stated amount valuation provision, the compensation for stolen or destroyed property is determined based on a specific dollar amount agreed upon by the insurer and the insured. This is typically outlined in the policy schedule as the insured amount.

When assessing what amount is not included in determining compensation, option D is correct because it focuses on an amount that is explicitly agreed upon rather than a calculated or adjusted figure related to the property’s current value, repair costs, or actual cash value (ACV). In contrast, options referring to the property’s ACV at the time of loss, the cost to repair or replace the property, and the specified dollar amount in the policy schedule are all relevant to how compensation might be established but do not pertain to agreed-upon sums, which distinctively set D apart as the answer.

In essence, while options A, B, and C relate directly to values derived from the actual state of the property or policy, the agreed amount in option D does not qualify based on the valuation method employed, which focuses on stated amounts as opposed to evolving calculations or valuations.