Agreed Price

This is the cost of repairs of damage to property as agreed upon by the adjuster and the corresponding representative of the body shop. Whenever an incurred loss occurs resulting in an accident to a car, the cost of repair agreed on will be used as a claim to the claimant.

The cost neither increase nor decrease as the price for any resulting damage for the car has already been agreed upon.

Posted in: Glossary of Auto Insurance (A)