Winters

ORDER

The memorandum disposition filed June 9, 1995, is redesignated as an authored opinion by Judge Jones. The mandate has already issued in this matter and no petitions for rehearing will be entertained.

OPINION

Plaintiff Jack Winters appeals the district court’s entry of summary judgment in favor of defendant State Farm Fire & Casualty Company (“State Farm”). At issue in this diversity action for breach of contract is the interpretation of various provisions of Winters’ business insurance policy, which was issued by State Farm.

Winters is an attorney. His client, Douglas Brown, was injured while using an electric-powered handsaw that Brown’s father purchased from J.C. Penney, Inc. (the “Penney saw”), for approximately $49.00. Winters represented Brown in a personal injuiy lawsuit against J.C. Penney.

Winters purchased five exemplar handsaws for $433 for use at trial. Winters kept the exemplar saws and the Penney saw in his law office. The saws were stolen before trial and were never recovered. The trial resulted in a defense verdict.

As pertinent to this appeal, Winters submitted claims for theft of the saws and lost income associated with the theft to State Farm under…