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Collier County

Driving in Collier County

Approximately 330,000 private and commercial vehicles are registered in Collier County, and this number accounts for 1.83% of all the registered vehicles in Florida.

About 3 in 4 adult drivers in Collier County drive to and from work on their own, and 33% of these drivers require more than 30 minutes to complete each trip on a daily basis.

About 20% of Florida-based drivers do not have auto insurance coverage, and this suggests that 66,000 vehicles in Collier County could possibly be uninsured or underinsured. On top of this, about every 4th traffic accident in Collier County is a hit and run.

Motor Vehicle Crashes in Collier County

Deaths caused by vehicular collisions in Collier County statistically occur at a rate of 10.72 per 100,000 vehicles on the road: approximately 35 fatal crashes per year.

In 2021, the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) reported 5,924 crashes in Collier County: 39 fatal crashes that led to 41 deaths (including 6 motorcyclists). Studies have shown that in around 1 in 5 (≈21%) of traffic-related fatalities, alcohol was a key factor.

Auto Insurance Analysis

  1. Roughly 330 thousand vehicles registered in Collier 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. Aside from the mandatory minimum, the vehicle type and its use may prompt vehicle owners to purchase additional coverage such as: Comprehensive Auto, Gap, Non-owner, Commercial Transportation, and so on.

  2. Over 150 thousand individuals operating a separate vehicle in one area increases insurance premium rates. Thousands of cars sharing the roads of Collier County at the same time raises the probability of a vehicular collision.

  3. The long daily commute of roughly 67 thousand Collier County residents is another factor that increases auto insurance premium rates. Being on the road for an extended period increases the likelihood of a vehicular collision.

  4. With every 4th crash as a hit-and-run and with 20% of drivers uninsured, Uninsured Driver Coverage remains essential for Collier County residents.

To discuss your auto insurance needs in Collier County, contact a knowledgeable Property & Casualty (P&C) insurance agent licensed in the state of Florida.

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Collier County Housing

There are approximately 234,236 dwellings in Collier County, and over 73% of them are inhabited by the owners themselves, and the remaining 27% can be inhabited by tenants. Collier County follows the majority of Florida where most homes are owner-occupied, at a rate of 65%.

The neighboring counties are also dominated by owner-occupied residential properties, with Lee County’s 72% rate as the second-highest after Collier County. Miami-Dade County, however, has a 51% owner-occupied rate, which implies that almost every other home is a rental.

About 20% of the homes in Collier County encounter housing problems, overcrowding, substandard plumbing, or kitchen problems. In 1 out of 4 homes, residents dedicate more than 50% of their income to housing expenses.

Housing Insurance Analysis

  1. More than 234 thousand residential units in Collier County need insurance coverage. At a minimum, all owners of these properties ought to have Homeowners, Condo insurance, and/or Business property insurance (for apartment complexes) to protect the underlying financial investment from possible loss or damage.

  2. With approximately 63 thousand homes in Collier County as rentals, landlords take out Landlord Insurance, which covers the property itself and the possible liability claims arising from the tenants and their guests.

  3. Renters insurance Naples: 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 Collier County may require Renters Insurance before putting pen to paper on a lease.

  4. Collier 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 Collier County is between early June and the end of November. Every county 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 Collier 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 property insurance in Collier 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,

  • checks for available savings and bundling discounts,

  • 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)

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Residential Insurance in Florida

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Collier County Health

It is estimated that 27% of adults in Collier County do not have proper health insurance coverage, and Collier County’s percentage is the second-worst when compared to its immediate neighbors. Hendry County’s 35% uninsured adult rate is the highest in the region and also across Florida. Broward County, on the other hand, has the lowest figure in the area at 19.8% — similar to the Florida average of 19.1%. Statewide, St. Johns County has the lowest uninsured adult rate at 13%.

Approximately 18% (≈73,000) of the Collier County population are reporting health issues. This is partially due to the fact that among the adult population, 16% smoke, 22% drink too much alcohol, and over 23% of the total population does not exercise regularly despite the fact that about 92% of the population have access to areas where physical exercise can be done.

Lack of regular exercise is possibly one of the reasons why 22% of Collier County adults are obese (BMI of 30 or more). All of Collier County’s neighbors are below Florida’s average of 27%, except for Hendry County, which has a 35% obesity rate.

In 2022, there were 14 health insurers in Collier County offering affordable and frequently subsidized ACA health insurance on the Florida marketplace.

Health Insurance Analysis

  1. Health insurance is the most important type of insurance coverage as its function is to pay for expenses that keep you alive and healthy. But despite this fact, over 76 thousand residents (below 65 years old) of Collier County do not have proper health insurance coverage.

  2. Florida residents have the ability to purchase multiple types of major medical health insurance and supplemental plans that pick up the slack for the main policy. This makes it easier to obtain coverage that fits each individual’s specific needs (both medically and financially): Group or Individual Marketplace ACA health insurance, various types of Short Term health insurance (up to 3 years in coverage), Hospital Indemnity, Critical Illness, Accident & Health, etc.

  3. Collier County residents that have low income may not have the budget for health insurance coverage. However, there are government subsidies that they can apply for to significantly reduce the costs of health insurance.

  4. 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 knowledgeable state-licensed Florida health insurance professional with access to a variety of health insurance options available to Collier County residents. Offerings of health insurance and its pricing may differ between zip codes.

A Florida health insurance agent: analyzes your health 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.

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Collier County Mortality and the End of Life Statistics

Collier County residents have an average lifespan of 86.1 years old, which is 6 years longer than the Florida average (80.1), and the longest life expectancy in the state of Florida. Among its neighbors, Lee County comes in second at 82.5 years old, while Hendry County has the shortest life span at 78.5 years. All the other neighboring counties have an above 80 average: Miami-Dade County at 82.4, Broward County at 81.4, and Monroe County at 81.2.

While Collier County has the longest life expectancy average in Florida, Union County has the shortest at 69 years.

In 2022 there were approximately 131,000 seniors (65 and older) residing in Collier County.

Life Insurance Facts

  1. In 2022, 47% of Americans did not have an active life insurance policy of any type.

  2. When calculating the life insurance premium rate of the applicant, the insurance carrier factors in their age. The older the applicant is, the riskier they are, at least from the insurance company’s viewpoint, which raises the insurance premiums rates. So taking out a life insurance policy at a young age is a way to save money on premiums.

  3. Over 16% of the adults in Collier County smoke, and this habit will likely negatively affect the life insurance premiums of over 53,000 adults by up to 4 times compared to non-smokers. A smoker is considered more susceptible to developing fatal diseases that make them a higher risk to life insurance carriers.

  4. Permanent Life Insurance also has a cash value component, which can be used while the insured is still alive: to borrow against, for emergency expenses, or as a tax-free retirement income.

Collier County - Funeral Expenses Statistics and Analysis

A traditional funeral in Florida costs around $5,900, and the average cost in Collier County is considerably higher at around $9,600. In fact, Collier County’s average is the highest in the state of Florida, while the lowest is observed in DeSoto County and Putnam County at $4,600.

Looking at Collier County’s bordering counties, Lee County has the second-highest funeral cost average at $6,700, and Miami-Dade County has the most affordable at $5,700.

Life Insurance Analysis

  1. With 46% of Americans dying with savings of less than $10,000, the family and friends of approximately 60 thousand Collier County senior residents may have to put their grief on hold to make sure that the funeral expenses will be settled. (Note: If using life insurance as payment for the funeral services, most funeral homes require the policy to be “assignable”)

  2. On top of the burial costs, the departed often leave outstanding loans and taxes for the family to take care of. Adding more to the financial challenges that befell them.

  3. In most cases, Term Life Insurance and Final Expense Insurance can help cover “final expenses” with a death benefit of up to $50,000.

  4. 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 (FE).

To get advice regarding life insurance in Collier County and help lighten the load for your family after your passing - reach out to a Florida-licensed, knowledgeable life insurance professional who has access to multiple insurers and plan types for comparison on a case-by-case basis.

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Collier County - Business

Commercial insurance needs vary between each of the over 16 thousand business establishments in Collier County. The three largest job-creating sectors, accounting for nearly 57% of all employment in 2020 were:

  • Manufacturing (18.8%)

  • Education & Health Services (17.5%)

  • Professional and Business Services (15.5%)

Commercial Insurance Analysis

  1. Manufacturing businesses usually require insurance coverage for:

    • Employees’ health and welfare

    • Production facilities, tools, supplies, and other property

    • Product liability coverage to protect the company itself if their product hurts the consumer, etc.

  2. Health providers usually get medical malpractice coverage according to the amount of damage their work can cause to the patients.

  3. Over 4 thousand professional services and consulting businesses in Collier County can benefit from professional liability insurance, also known as Errors and Omissions insurance (E&O insurance). E&O insurance protects their clients in case the professional advice they give causes damages or losses.

To assess your business insurance needs in Collier County, speak with a knowledgeable Florida-licensed commercial insurance agent with access to multiple insurers and premium finance options.

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