Another possible reason: If you have a high mileage vehicle, and you haven't had your brake fluid changed, you may have water in the fluid that is confusing the sensor. Brake fluid is hygroscopic (holds water), and this can cause the sensor to think that you have low pressure in the system, and turns on the light. My '92 had the light come on, and I lost the abs. Took it to Monroe Brake & Muffler, hooked it to the diagnostic computer, and it said 'low fluid pressure'. They then put a manual pressure gauge on the system, and it showed normal. I had them purge and refill the system, and this fixed it. One sidebar...if they don't purge the abs valve, the light will stay on until the new fluid in the system mixes with the old fluid in the valve and clears the water out. They didn't with mine, and it took about a week to sort itself out. The abs valve is on a tee off of the main line, so just purging the main system doesn't catch it. It may not fix your problem, but if it does, a $20 purge and refill is a heckofalot cheaper than a new valve.