Ivey Construction Company v. Transamerica Insurance Company

Eberhardt, Judge.

H. W. Ivey Construction Company, Inc. brought suit against Transamerica Insurance Company on a “Builders Risk Multiple Peril Policy” of insurance claiming coverage for a fork-lift truck which was dropped seven floors from a building being constructed by Ivey. The policy insured “materials, equipment and supplies, the property of the assured [Ivey], or for which the assured is legally liable, to be used in the construction, installation or erection of AAA Office Building situate 730 Peachtree Street, N. E., Atlanta, Georgia.” Excluded from coverage was “Contractors’ equipment,…