Which of the following is NOT a factor in determining a loss under a dwelling policy?

In the context of determining a loss under a dwelling policy, it is vital to understand what factors are considered when calculating the compensation for a claim. The amount negotiated by the insured does not play a role in this process. Instead, insurance policies are based on predefined coverage limits and conditions set forth by the insurer.

On the other hand, factors such as the insured’s deductible amount, the property's replacement cost, and the market value of the property all contribute to how losses are assessed. The deductible is the portion of the loss that the insured must pay out of pocket before the insurance coverage applies. The replacement cost is crucial as it reflects the cost to replace the damaged property with a similar one, without accounting for depreciation. Lastly, the market value provides insight into the worth of the property on the market and while it isn’t directly used in loss determination, it can influence underwriting decisions.

Thus, since the amount negotiated by the insured is not a standard factor used in the loss calculation process, it is the correct choice in identifying what is not relevant when determining a loss under a dwelling policy.