Glossary

Additional Insured – A person or business added to your policy for shared liability protection.
Aggregate Limit – The maximum total an insurer will pay in a policy period.
Bailee Coverage – Protects customer property in your care, such as coats or personal items.
Blanket Coverage – One limit covering multiple New York locations or properties.
Bodily Injury Liability – Pays for medical costs if someone is hurt on your premises.
Boiler & Machinery – Another name for equipment breakdown insurance.
Brand Restoration – Covers PR costs after a damaging event or food recall.
Builder’s Risk – Protects a restaurant under construction or renovation.
Business Auto – Insurance for company-owned delivery cars or vans.
Business Interruption – Replaces lost income during covered closures.
Business Owner’s Policy (BOP) – Bundled general liability, property, and interruption coverage.
Certificate of Insurance (COI) – Proof of coverage often required by landlords or events.
Civil Authority Coverage – Income protection when the government orders force closure.
Claims-Made Policy – Covers incidents reported during the policy period.
Commercial Crime – Safeguards against employee theft or fraud.
Commercial Property – Protects buildings, equipment, and inventory.
Commercial Umbrella – Adds extra liability limits above other policies.
Contamination Coverage – Covers food spoilage or contamination incidents.
Cyber Liability – Protects against POS system hacks and data breaches.
Deductible – The amount you pay before insurance kicks in.
Employee Dishonesty – Coverage for theft by staff.
Employment Practices Liability (EPLI) – Protects against employee claims such as harassment.
Equipment Breakdown – Covers sudden failure of ovens, refrigeration, or HVAC units.
Excess Liability – Additional coverage beyond primary limits.
Food Spoilage – Pays for perishable loss due to power outage or equipment failure.
Foodborne Illness Coverage – Helps with claims after customer illness.
General Liability – Core protection for accidents, injuries, and property damage.
Hired & Non-Owned Auto – Covers vehicles not owned by the business but used for deliveries.
Host Liquor Liability – Coverage for businesses serving alcohol at a one-time event.
Inland Marine – Protects mobile property like catering equipment.
Liquor Liability – Required for New York establishments serving alcohol.
Loss of Income – Another term for business interruption insurance.
Mechanical Breakdown – Same as equipment breakdown; key for restaurants.
Medical Payments Coverage – Pays minor injury bills regardless of fault.
Ordinance or Law Coverage – Pays for code upgrades after a covered loss.
Peak Season Endorsement – Extra inventory protection during busy months.
Per Occurrence Limit – Maximum paid per single incident.
Premises Liability – Covers injuries on your physical location.
Product Liability – Protection from claims related to served food or beverages.
Professional Liability – Covers errors in catering or consulting services.
Property Damage – Pays for repair or replacement of damaged property.
Replacement Cost – Pays to replace items at today’s prices, not depreciated value.
Sign Coverage – Protects outdoor signage against damage or theft.
Tenant Improvements – Covers upgrades you make to leased space.
Utility Interruption – Income protection from extended power or water outages.
Valuable Papers – Coverage for loss of critical business documents.
Workers’ Compensation – Mandatory coverage for employee injuries or illness.