Vakuutusehdot selittävät vakuutusturvan ja korvauksen.

Vakuutusehdot is the nominative plural form of vakuutusehto.

This word is a compound:

• vakuutus = insurance
• ehto = term, condition

So:

• vakuutusehto = an insurance term / condition
• vakuutusehdot = insurance terms / conditions

In this sentence, vakuutusehdot is the subject, so it appears in the nominative plural.

Because the subject is plural.

The verb is selittää = to explain.
Its 3rd person plural form is selittävät = they explain.

So the agreement is:

• vakuutusehto selittää = the insurance term explains
• vakuutusehdot selittävät = the insurance terms explain

Finnish verbs agree with the subject in person and number, unlike English where this only happens in a limited way.

Here they are objects in the so-called total object form.

The dictionary forms are:

• vakuutusturva = insurance cover / coverage
• korvaus = compensation

In the sentence they become:

• vakuutusturvan
• korvauksen

For singular nouns, the total object often looks like the genitive singular form, ending in -n.

A learner-friendly way to think about it is:

• -n here suggests the object is understood as a whole, complete thing
• the sentence is talking about explaining the coverage and the compensation as complete items

Compare:

• selittää asian = explain the matter
• selittää asiaa = explain a matter / be explaining the matter (more ongoing, incomplete, or partitive)

That would use the partitive and would change the nuance.

• vakuutusturvan ja korvauksen = the coverage and the compensation as whole, definite items
• vakuutusturvaa ja korvausta = coverage and compensation in a more partial, less bounded, or ongoing sense

With selittää, both can be possible in the right context, but the version in your sentence presents the objects as complete things being explained. That is why the total object sounds natural here.

Yes.

It comes from vakuutusturva, which is made of:

• vakuutus = insurance
• turva = protection, security, cover

So:

• vakuutusturva = insurance cover / insurance protection / coverage
• vakuutusturvan = the total-object form of that word in this sentence

Finnish uses compound words very heavily, much more than English. A long word is often just several smaller ideas packed together.

Because Finnish does not have articles like a or the.

English says:

• the insurance terms
• the insurance cover
• the compensation

Finnish simply says:

• vakuutusehdot
• vakuutusturvan
• korvauksen

Whether something is understood as a, the, or just a general concept depends on context, word order, and grammar rather than a separate article.

Yes, Finnish word order is fairly flexible, though the neutral order here is very natural:

• Vakuutusehdot selittävät vakuutusturvan ja korvauksen.

This is basically: Subject + Verb + Object

You could move parts around for emphasis, for example:

• Vakuutusturvan ja korvauksen selittävät vakuutusehdot.

That sounds more marked and emphasizes what is being explained. Finnish often uses word order to shift focus or emphasis rather than to mark basic grammatical roles.

You can identify them through both meaning and form.

• Vakuutusehdot is the subject:
  • it is in the nominative plural
  • the verb agrees with it: selittävät
• vakuutusturvan and korvauksen are objects:
  • they are what is being explained
  • they appear in the total-object form

So the structure is:

• Vakuutusehdot = subject
• selittävät = verb
• vakuutusturvan ja korvauksen = object phrase

Here are the basic forms:

• vakuutusehto = insurance term / condition
• selittää = to explain
• vakuutusturva = insurance cover / coverage
• korvaus = compensation

And the forms in the sentence are:

• vakuutusehdot = nominative plural
• selittävät = 3rd person plural present
• vakuutusturvan = singular total object form
• korvauksen = singular total object form

Yes, in this sentence it does.

• ja = and

It joins the two objects:

• vakuutusturvan
• korvauksen

So vakuutusturvan ja korvauksen means the insurance cover and the compensation.

Both nouns stay in the same grammatical form because they are parallel objects of the same verb.