That is the maximum voltage that the relay contacts are specified to handle. Any higher and there might be insulation breakdown failure and/or arcing or other Bad Things.
The coil rating is different and is often something like 12 V dc (or ac) with minimum and maximum current given.
1)Typically stated on the datasheet.. Some allow up to 150% of the nominal.I also have a relay question that fits well with this topic:
1) what is a 'typical tolerance' in terms of the max voltage?
2) If you are using a 'cheaply rectified' ac source to trigger your coil, and you have a LOT of ripple (like, 20%!), should you think in terms of the RMS voltage or peak voltage when sending it to the coil??
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by Nirbindu Das
by Jake Hertz