Shelter Mutual Insurance Company, Appellant v. Michael Goodner and Robbie Goodner, Appellees

Summary

The court affirmed summary judgment for the insureds, holding that labor may not be depreciated when calculating actual cash value under an indemnity insurance policy, even when the policy expressly authorizes that calculation. The court reasoned that depreciating labor is inconsistent with indemnity principles and violates Arkansas law and public policy. Justice Wood, dissenting, would have held that the express policy language controlled and did not violate public policy.