Broward County
Driving in Broward County
There are over 18 million vehicles registered in the state of Florida and 1,602,564 of them can often be found traversing the busy roads of Broward County. This figure represents 9% of all the registered automobiles in the entire state of Florida.
Carpooling to and from work is not very popular in Broward County as 80% of the vehicles used for daily commutes only transport the driver and no one else. More than half of these drivers are behind the wheel for more than 30 minutes.
With about 20% of Florida drivers uninsured, roughly 320,000 vehicles in Broward County alone could be uninsured or underinsured.
Approximately 1 out of 3 vehicle crashes in Broward County is a hit and run.
Motor Vehicle Crashes in Broward County
Motor vehicle fatalities in Broward County statistically occur at a rate of 11.77 per 100,000 vehicles on the road: approximately 188 fatal crashes per year.
In 2021, the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) reported over 41,375 crashes in Broward County: 244 fatal crashes, with a resultant 263 deaths (including 38 motorcyclists). Alcohol is determined as the main factor for the fatal crashes in Broward County in an estimated 13% of all driving fatalities.
Auto Insurance Analysis
- Over 1 million vehicles registered in Broward County need insurance coverage. Basic Liability and Personal Injury Protection (PIP) coverages are required for all vehicles on the road to protect others from the damage you may cause in an accident. Depending on the type of vehicle and its use, the additional required insurance may be: Collision Coverage, Commercial Auto, Comprehensive Coverage, Non-Owner, Gap, Inland Marine, and so on.
- More than 960 thousand drivers commuting daily is among the key factors why auto insurance premium rates in Broward County tend to be higher compared with less densely populated counties. Everyone driving a separate vehicle increases the total number of vehicles on the road, and the probability of vehicular collisions. When the risk level goes up, so do the premium rates.
- The longer daily commute of nearly 550 thousand Broward County residents raises the cost of auto insurance because it increases the amount of time a driver spends on the road. Being on the road longer increases the likelihood of being involved in a traffic accident.
- With a third of crashes as a hit-and-run and with 1 out of 5 drivers uninsured, Uninsured Driver Coverage remains important for Broward County residents.
To discuss your auto insurance needs in Broward County, contact a knowledgeable Property & Casualty (P&C) insurance agent licensed in the state of Florida.
Broward County Housing
There are around 837,642 housing properties in Broward County, which are primarily occupied by the owners themselves (62%), just like the majority of Florida (≈65%). Roughly 38% of the homes are possibly tenant-occupied.
Most of the neighboring counties are also dominated by owner-occupied homes, with Collier County leading the group with 73% of its homes inhabited by the owners. Palm Beach County has the second-highest figure at 69% (with nearly 39% of homes for rent).
Miami-Dade County’s housing market, on the other hand, is almost evenly split between homeowners (51%) and renters (49%). This means that every other residential property is listed as a rental.
Over 24% of housing units in Broward County experience housing problems, overcrowding, lack of plumbing, or issues with the kitchen. In 1 out of 4 homes, residents spend more than 50% of their income on housing.
Housing Insurance Analysis
More than 800 thousand housing units in Broward County need insurance coverage. At a minimum, all owners of these properties should have Homeowners, Condo insurance, and/or Business property insurance (for apartment complexes) to protect the underlying financial investment from possible loss or damage.
With over 300 thousand housing units in Broward County as rentals, landlords obtain Landlord Insurance, which covers the property itself and from the possible liability claims arising from the tenants and their guests.
Tenants buy Renters Insurance coverage to protect their belongings from possible damage or loss. Typically, renters’ insurance is affordable and usually covers the tenant's property from theft and damages caused by fire, smoke, water, and vandalism. Some landlords in Broward County may require Renters Insurance before putting pen to paper on a lease.
Renters insurance Fort Lauderdale: Broward County is located on the coast, not far from one of the main hurricane formation areas in the Atlantic Ocean. Hurricanes bring in primarily wind and flood damage. The highest probability of a hurricane occurrence in Broward County is between early June and the end of November. Every Florida resident should be aware of the procedures and safeguards set in place by the local County and State agencies. All homeowners, landlords, and renters in Broward County need to maintain appropriate insurance coverage to protect their property against possible loss and damage from wind and water damage.
For consultation and advice about Homeowners, Renters, Condo, Flood, and other types of insurance in Broward County, contact a Property & Casualty (P&C) insurance agent licensed in the state of Florida.
A Florida P&C insurance agent:
analyzes your needs and restrictions,
reviews your current policy, to make sure that the coverages are reflective of the current needs and housing market- helps to update, if needed,
researches the locally available plans that fit your needs,
provides you with the available options of coverage,
explains how the differences between the options affect you once you start using each insurance product
assists you with the application process
does not affect your cost of insurance. (agent’s service is usually paid by the insurer)
Broward County Health
In Broward County, approximately 19.8% of the adults do not have proper health insurance coverage, and this figure is similar to the state average (≈19.2%). It is also the lowest percentage compared to its immediate neighbors. In the region, Hendry County has the highest uninsured adult rate at 35% and this is also the highest in Florida. Collier County has the second-highest figure among the neighbors at nearly 27%.
While Hendry County has the highest rate, the lowest is observed in St. Johns County at under 13%. In 2021, the average adult uninsured rate in Florida was around 19.2%.
More than 1 in 5 adults (or nearly 400,000 residents) in Broward County report problems with health.
This is probably due to the fact that among the adult population, 17% smoke, 19% consume alcohol excessively, and nearly 1 out of 4 (≈24%) of the total population does not exercise regularly despite the fact that virtually all of them (≈97%) have access to areas where physical exercise can be done.
Physical inactivity, is among the key factors why 25% of the adults in Broward County are obese (with a BMI of 30 or more) — a figure that is not far off the Florida average of 27%. In the region, Hendry County has the highest obesity rate at 35%, which could be a problem given the fact that they have the highest adult uninsured rate in Florida.
As of 2022, there were 14 health insurers in Broward County offering affordable and frequently subsidized ACA health insurance on the Florida marketplace.
Health Insurance Analysis
Health insurance is the most vital type of insurance coverage, and over 300 thousand residents of Broward County lack this necessity.
Floridians are permitted to purchase multiple types of health insurance and supplemental products inside the state. This makes it easier for them to obtain coverage that fits their specific needs (both medically and financially): Group or Individual Marketplace ACA health insurance, Various types of Short-term insurance (up to 3 years in coverage), Hospital Indemnity, Accident & Health, etc.
Understandably, not everyone is able to afford health insurance due to the costs involved. In such cases, those who do not have the funds for this coverage are advised to apply for government subsidies that can significantly lower or even almost eliminate the out-of-pocket costs of insurance.
If you do not have pre-existing conditions, Short-term insurance may provide an alternative saving path. (* Some Florida multi-year short-term health insurance plans may cover certain pre-existing conditions after a year or more of coverage).
Discuss your health insurance needs with a state-licensed Florida health insurance professional with access to a variety of health insurance options available to Broward County residents.
A Florida health insurance agent: analyzes your needs and restrictions, researches the locally available plans that fit your needs, provides you with the available options of coverage, and explains how the differences between the options affect you once you start using each insurance product. The agent assists you with the application process and at any time you need to make a change to the policy, or shop for replacement coverage.
Broward County Mortality and the End of Life Statistics
A Broward County local has an average life expectancy of 81.5 years old, which is a year longer than the state average of 80.2 years. In its area, Broward County has the second-shortest life expectancy. The lowest figure belongs to Hendry County with 78.5 years, while Collier County has the longest average at 86.1 years old.
In the whole state of Florida, Collier County has the longest life expectancy average at 86 years old, while Union County has the shortest at 69 years.
In 2022 there were approximately 336,000 seniors (65 and older) residing in Broward County.
Life Insurance Facts
In 2022, 47% of Americans did not have an active life insurance policy of any type.
Young adults falsely believe that they do not need life insurance yet. However, age is among the most significant factors that affect premium rates. This is why young adults are advised to take out a policy while they are still young and healthy to save money in premiums in the long run.
Close to 17% of the adults (18 above) in Broward County smoke, and this habit will definitely increase the life insurance premiums of more than 260,000 adults by up to 4 times compared to non-smokers. A smoker’s life expectancy is deemed shorter, making them more of a risk than people who do not smoke.
Broward County - Funeral Expenses Statistics and Analysis
A traditional funeral in Broward County could cost the family and friends of the deceased $5,800, which is similar to the Florida state average of $5,900. Broward County’s average funeral cost is among the most affordable in the region — second to Miami-Dade County’s $5,700. At the top of the list is Collier County, with a $9,600 average.
In fact, Collier County has the most expensive funeral cost average in the entire state, while Putnam County and DeSoto County have the lowest, both at $4,600.
Life Insurance Analysis
With 46% of Americans dying with savings of less than $10,000, the families and friends of nearly 155 thousand Broward County senior residents may have to set aside their mourning as they have to focus their energies on making sure their loved one’s funeral will be paid for. (Note: If using life insurance as payment for the funeral services, most funeral homes require the policy to be “assignable”)
On top of the burial costs, the departed often pass away with unsettled debts and taxes for the family to take care of. Understandably, this adds to their woes.
The most frequently used life insurance policies to cover “final expenses” up to $50,000 are: Term Life Insurance and Final Expense Insurance.
The most commonly used life insurance policies to leave money to the family are the variations of: Term Life Insurance and Cash Value insurance, such as Whole Life insurance, Indexed Universal Life (IUL) insurance and Final Expense.
To find out more about life insurance options in Broward County, speak with a knowledgeable state-licensed and experienced life insurance professional who has access to multiple insurers and plan types for comparison.
Broward County - Business
Commercial insurance needs vary between each of the over 76 thousand business establishments in Broward County. The three largest job creating sectors, accounting for almost 54% of all employment in the county in 2020 were:
Manufacturing (23%)
Financial activities (17.3%)
Professional and Business Services (13.6%)
Commercial Insurance Analysis
Manufacturing facilities usually require insurance coverage for:
Production areas and the property stored there,
Employees’ health, safety, retirement, and life insurance needs,
Product liability coverage to protect both the consumers and the manufacturing company itself, in case if the product hurts someone.
More than 20 thousand professional services and consulting businesses in Broward County can benefit from Errors and Omissions insurance. E&O insurance is a type of professional liability insurance, which protects the clients in case if the received professional advice causes them damages or losses. In case of a lawsuit against the professional, their E&O coverage will pay.
Assess your business insurance needs in Broward County by speaking with a knowledgeable commercial insurance agent licensed in Florida, who has access to multiple insurers and premium finance options.
