Coos Cnty. Airport Dist. v. Special Districts Ins. Servs. Trust of the Special Districts Ass'n of Or.

*785*830Plaintiff owns and operates an aircraft hangar at the Southwest Oregon Regional Airport in North Bend. A fire destroyed the concrete slab that served as the hangar floor. At the time, defendant insured the hangar, including the slab.1 Plaintiff spent $1,284,288 to replace the slab. When defendant reimbursed plaintiff only $942,719 for the slab, plaintiff filed this action to recover the difference. In essence, plaintiff claimed that the replacement slab was "functionally equivalent" to the old slab, such that defendant was obligated to pay its full cost under the insurance contract, while…