News and Views
Insurance Terms Explained
Insurance terms can be confusing and we all wonder why normal language can’t be used to explain everything. One of our goals is to make it easier for you to understand these terms and so here is our glossary of insurance terms for people who choose not to speak in legal jargon!
You will find yourself referred to as ‘the Insured’ quite a lot. It’s still ‘you’ but it in its exact reference it means the person (or people) named in the insurance Schedule.
The company or underwriters (the people who work out how much your insurance is) who are actually insuring you. Not to be confused with Moving Food, we arrange the insurance and find the best product for you.
Your business, but in very precise terms! Usually detailed as something like ‘ownership or occupation of vehicle for the purpose of retailing food and drinks’. This will usually be worked out from a question you answer in the quote process so shouldn’t be anything to worry about.
Accidental physical damage
Technically referring to anyone you employ under a contract of service or apprenticeship, working for You in connection with the Business or as more described in Liability definitions
Any equipment permanently fixed (fixtures and fittings) to the Trailer or Static Unit, this doesn’t include items like Generators and Gas Bottles.
This terms actually refers to Death, Injury, illness or disease.
Limit of Liability
means the applicable Limit of Our Liability to You as defined in the Schedule and/or the Limits of Liability section of this Certificate.
Any location which is behind locked gates with no other unsecured access.
Actually, it’s not just money! This term means cash, bank notes, cheques, giro cheques, bankers’ drafts, Money orders, bills of exchange, unused
postage stamps, holiday with pay stamps, credit company sales vouchers and VAT purchase invoices and luncheon vouchers!
Non Fixed Contents
Stuff which is not permanently fixed to the Trailer or Static Unit. Utensils and removable equipment fit this bill.
Pollution or Contamination means
1. Pollution or Contamination of buildings or other structures or of air or water or land and
2. Injury, Loss or Damage directly or indirectly caused by such Pollution or Contamination.
Static Unit or Trailer
A unit which is not a mechanically propelled and permanently sited and converted for the purpose of retailing food or drink
Any public authority, company firm or person to whom You have contractually agreed to supply services
What you’re selling! (includes any containers)
We hope that helps a little but if you need any advice on insurance terms just give us a call and we’ll explain all