Stacey Solomon made a “breaking news” announcement on social media today.
The Loose Women panellist, 34, has previously been likened to gardening expert Charlie Dimmock.
As she attempts to grow a garden vegetable patch and has since made a discovery.
The mum-of-five captioned her Instagram Story: “Good morning from the veg patch with some breaking news.”
She told her followers: “Morning… I’m letting the ducks have a little nibble. I’m hoping in the future they will be my slug control. They’re so cute.
“Oh my gosh, we’ve got breaking news from the patch today. Against all of the odds, I’ve got a broccoli growing. I can’t believe it. I thought after the deer had come they had it.”
The Sort Your Life Out star revealed last month she had found her vegetable patch had been “robbed” and was left devastated when her broccoli was nowhere to be seen, with just stalks left behind.
Stacey worried about what to tell her son Rex, four, as she told the camera: “Devastated, send help. What do I tell Rex?”
She vented: “I’ve been robbed, I’ve been robbed. Oh my god, it’s so bad. I don’t even want to look at it. I’m absolutely devastated.
“The deer, and it must be deer because I don’t know anything that could do what they’ve done to my veg.”
But much to her delight things are turning around as she continues to work on the family’s vegetable patch.
Meanwhile, Stacey was left overcome with emotion as she penned a special tribute to her beau on Father’s Day (June 19).
The Loose Women presenter shared the emotional clip that she had created for her other half to her Instagram grid. She collated clips of Joe caring for his children – Rex, Rose and Belle – as she added Jessica Baio’s Someday.
The post was captioned: “I never got to meet your dad. But he must have been the best dad in the world to have created you. Honestly Joe, you do your dad proud every single minute of every day.
“You’re the most incredible father. We are the luckiest. To the moon & back Joe Joe.”
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Source: USA Today
Understanding Deductibles in Insurance
What is a Deductible?
A deductible is the amount of money a policyholder must pay out-of-pocket before an insurance company begins to cover the remaining costs. Deductibles are a fundamental component of most insurance policies, including health, auto, home, and business insurance.
How Do Deductibles Work?
When you file a claim, you are responsible for paying the deductible amount. Only after this amount is paid will the insurance company pay for the covered expenses exceeding the deductible. For example, if you have a $1,000 deductible on your car insurance and incur $3,000 in damages from an accident, you would pay the first $1,000, and the insurance company would cover the remaining $2,000.
Types of Deductibles
- Fixed Dollar Deductible: This is a specific amount you must pay each time you file a claim. It’s common in health and auto insurance policies.
- Percentage Deductible: In some cases, particularly with homeowners insurance, the deductible might be a percentage of the insured value. For instance, if your home is insured for $200,000 and you have a 2% deductible, your out-of-pocket cost would be $4,000 before insurance covers the rest.
- Per-Claim vs. Annual Deductible:
- Per-Claim Deductible: You pay the deductible every time you file a claim.
- Annual Deductible: Common in health insurance, this deductible resets each year. You pay out-of-pocket until your total expenses reach the deductible amount for the year.
Why Do Deductibles Exist?
- Cost Control: Deductibles help keep insurance premiums more affordable. Higher deductibles typically result in lower premiums because the policyholder assumes more initial risk.
- Reduced Claims Frequency: Deductibles discourage policyholders from filing small or frivolous claims, reducing the number of claims an insurer must process and pay out.
- Shared Responsibility: Deductibles ensure that policyholders share in the financial responsibility of their care or damages, promoting cautious behavior and maintenance of insured assets.
Choosing the Right Deductible
When selecting an insurance policy, choosing the right deductible is crucial. Here are some considerations:
- Financial Ability: Assess your ability to pay the deductible in case of a claim. A higher deductible can lower your premium but may be challenging to pay if an incident occurs.
- Risk Tolerance: Determine how much risk you are comfortable assuming. If you prefer lower out-of-pocket costs during an emergency, a lower deductible might be preferable, albeit with a higher premium.
- Frequency of Claims: Consider how often you might need to file a claim. If you anticipate frequent claims, a lower deductible might be more cost-effective over time.
Impact on Premiums
The relationship between deductibles and premiums is inverse. Generally, the higher the deductible, the lower the premium, and vice versa. This trade-off allows policyholders to customize their insurance based on their financial situation and risk appetite.
Conclusion
Deductibles are a key feature of insurance policies that influence both the cost of premiums and the financial burden on policyholders when filing claims. Understanding how deductibles work and carefully selecting an appropriate deductible can help balance cost savings with financial protection, ensuring optimal insurance coverage tailored to individual needs and circumstances.
