Farrington should not be included as an insured within the meaning of the property insurance policy between Darling's and Philadelphia. The existence of an insurable interest is a primary concern when determining liability under an insurance policy. In the case of personal property, an insurable interest exists when the insured derives a pecuniary benefit from the preservation and continued existence of the property. One has an insurable interest in property when one would sustain a financial loss from its destruction. As for an insurance policy’s language, courts interpret the words according to their ordinary meanings and in light of the nature of the coverage involved.
Darling's is entitled to recover the value of the loss to covered vehicles
Darling's is entitled to recover the value of the loss to covered vehicles