Holden v. Farmers Insurance

¶19 (dissenting) — Laura Holden seeks reimbursement under her renters insurance policy for the “actual cash value” (ACV) of personal property damaged during a fire in her apartment. Holden’s insurance policy defines ACV as the “fair market value” (FMV) of the property at the time of loss. Because the majority erroneously holds that a (theoretical) sales tax should be added to the reimbursement based on its conclusion the term FMV is ambiguous, I respectfully dissent.

*762¶20 The majority concludes that the definition of ACV results in ambiguity because of the use of different methodologies to…