New York Subscriber.

A

The insurance company is correct in denying the loss, but not because of the definitions. It is commonly accepted in legal jurisdictions that words in an insurance contract should be given their ordinary, everyday meanings. Turning to Webster's Collegiate Dictionary, “materials” is defined as “relating to, derived from, or consisting of matter…the elements, constituents, or substances of which something is composed or can be made.” Black's Law Dictionary defines “material” as an adjective, which does not apply here. According to Webster, “Supplies” means “provisions; stores”—so a person may be provided with a store of tools which are composed of matter. Black's states “supplies” may mean “something supplied or on hand,” which certainly fits this situation.

However, turning to the exclusions, “theft of property not part of a covered building or structure” precludes coverage for the tools. Nor can the insured look to personal property coverage C, since “theft” is not one of the named perils. Materials and supplies are covered, but not against theft loss.