Omavastutusmäära

Omavastutusmäära, often translated as deductible or own risk amount, is a term commonly used in insurance contexts. It refers to the portion of a loss or claim that the insured party is responsible for paying out-of-pocket before the insurance company begins to cover the remaining costs. This amount is agreed upon in the insurance policy and can vary depending on the type of insurance and the coverage chosen.

The purpose of omavastutusmäära is multifaceted. It serves to reduce the number of small claims filed by policyholders, thereby lowering administrative costs for insurers. It also encourages policyholders to take greater care in preventing losses, as they bear a direct financial responsibility for a part of any damage. Furthermore, a higher deductible generally leads to a lower insurance premium, offering policyholders a way to manage their insurance costs.

When a claim occurs, the insured party first pays the omavastutusmäära to the service provider or to cover the repair costs. The insurance company then covers the expenses exceeding this deductible amount, up to the policy limits. Understanding the omavastutusmäära is crucial when selecting an insurance policy, as it directly impacts the financial outlay in the event of a claim. Different policies may have different deductible structures, such as fixed amounts or percentages of the insured value.