omavastuu

oma (“own”) +‎ vastuu (“risk, responsibility”)

• IPA^(key): /ˈomɑˌʋɑstuː/, [ˈo̞mɑ̝ˌʋɑ̝s̠tuː]
• Rhymes: -ɑstuː
• Syllabification^(key): o‧ma‧vas‧tuu
• Hyphenation^(key): oma‧vastuu

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)

• 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".

• “omavastuu”, in Kielitoimiston sanakirja [Dictionary of Contemporary Finnish]‎^[1] (in Finnish) (online dictionary, continuously updated), Kotimaisten kielten keskuksen verkkojulkaisuja 35, Helsinki: Kotimaisten kielten tutkimuskeskus (Institute for the Languages of Finland), 2004–, retrieved 3 July 2023