omavastuu

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Finnish[edit]

Etymology[edit]

oma (own) +‎ vastuu (risk, responsibility)

Noun[edit]

omavastuu

  1. (insurance) deductible; excess (UK) (the amount of expenses that the insured party must pay out of pocket before an insurer will pay any expenses)

Declension[edit]

Usage notes[edit]

  • According to the Wikipedia article on deductible (cited June 8th, 2012), the "only case where a deductible is different to an excess is when the claim amount is greater than the sum insured. Under an excess, the policyholder pays the excess amount first, but is still insured for the full sum insured. Whereas under a deductible, the most a claim can be is the claim amount less the deductible".