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Franklin County

Driving in Franklin County

Franklin County residents have registered a total of around 10,239 vehicles for personal and business use. This figure accounts for approximately 0.06% of all the registered vehicles in Florida.

About 4 in 5 vehicles utilized for daily commutes to work only transport the driver and no one else. Additionally, 22% of these vehicles require more than 30 minutes for each trip.

About 1 in 5 Florida-based drivers do not have auto insurance coverage, and this implies that around 2,000 vehicles in Franklin County could possibly be uninsured or underinsured. Aside from this, around every 6th traffic accident in Franklin County is a hit and run.

Motor Vehicle Crashes in Franklin County

Deaths caused by vehicular collisions in Franklin County statistically occur at a rate of 18.15 per 100,000 vehicles on the road: approximately 2 fatal crashes per year.

In 2021, the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) reported 97 crashes in Franklin County: 3 fatal crashes that caused 3 deaths. Studies have shown that in 18% of traffic-related fatalities, alcohol was a significant factor.

Auto Insurance Analysis

  1. Over 10 thousand vehicles registered in Franklin County are required to have at least the mandatory coverages. 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, Non owners car insurance, Ride-sharing, Commercial or Farm Auto, Short term car insurance, and so on.
  2. The majority of Franklin County is rural, and although vehicles that utilize rural roads are less susceptible to vehicular collisions, wildlife-vehicle collisions are more likely to happen — this is especially true for Florida with its diverse ecosystem, where animals (such as deer, black bears, alligators, and various birds) frequently cross the road. According to a study reported by the Florida Fish and Wildlife Conservation Commission (FWC), there has been a 86% increase in the black bear population in the East Panhandle region of Florida from 2002 to 2015, making rural road crossings more likely. Although Personal Injury Protection coverage can cover your medical expenses and loss of income, having Comprehensive Auto insurance will help with the cost of repairing the car after hitting an animal.
  3. With every 6th crash as a hit-and-run and with 20% of drivers uninsured, Uninsured Driver Coverage remains essential for Franklin County residents.

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

Franklin County Housing

In Franklin County, most homes are inhabited by the owners, at a rate of 75%, and 25% of its estimated 9,000 dwellings are rentals. All the counties in the region are mostly dotted with owner-occupied homes. From lowest to highest: Gulf County (74%), Liberty County (75%), and Wakulla County (82%) — all are above the Florida homeowner-occupied average of 65%.

About 15% of the homes in Franklin 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. Around 9 thousand residential units in Franklin 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. Owners of residential real estate in Franklin County take out Landlord Insurance, which covers the property itself and the possible liability claims arising from the tenants and their guests.
  3. Tenants secure 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 Franklin County may require Renters Insurance before putting pen to paper on a lease.
  4. Franklin 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 Franklin 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 Franklin 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 Franklin 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,
  • checks for available savings and bundling discounts,
  • 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)

Franklin County Health

About 19.7% of adult residents in Franklin County do not have proper health insurance coverage, which is comparable to the Florida average of 19.2%. Franklin County’s neighbors are all below the Florida average. Liberty County is at 16%, while 15% of Wakulla County and Gulf County adults do not have proper health insurance. Across Florida, Hendry County has the highest figure in Florida at 35%, while St. Johns County has the lowest rate at 13%.
Approximately 24% (≈3,000) of Franklin County residents experience health issues. This is partially due to the fact that among the adult population, 26% smoke, 24% consume too much alcohol, and around 31% of the residents do not exercise regularly, even though 88% of the population have access to places where physical exercise can be done.
The fact that nearly 1 in 3 Franklin County residents does not exercise regularly contributes to Franklin County’s 34% obesity rate (BMI of 30 or more) — this rate is above the Florida average of 27%. Among the neighboring counties, Liberty County and Wakulla County have the highest figures both at 40%, while Gulf County has the lowest obesity rate in the region at 33%.
In 2022, there were 14 health insurers in Franklin County offering affordable and frequently subsidized ACA health insurance on the Florida health 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, about 2,000 residents (below 65 years old) of Franklin 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 health insurance that picks 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 insurance (up to 3 years in coverage), Hospital Indemnity, Critical Illness, Accident & Health, etc.
  3. Not everyone from Franklin County is able to afford health insurance but with low income health insurance, you could apply for government subsidies to significantly lower the out-of-pocket costs of health insurance.
  4. If you do not have pre-existing conditions, short-term health 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 Franklin County residents. Offerings of health insurance may differ between zip codes.
    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.

Franklin County Mortality and the End of Life Statistics

Franklin County residents have an average life expectancy of 77.3 years old, which is a couple of years short of the Florida average (80.2). Among the neighbors, Wakulla County’s 76.9-year average is the longest life expectancy in the area, and Gulf County’s 75.9-year average is the shortest.
In the entire state of Florida, Collier County has the longest average life expectancy at 86 years old, while the shortest average is recorded in Union County, at under 69 years old.
In 2022 there were approximately 3,000 seniors (65 and older) residing in Franklin County.

Life Insurance Facts

  1. In 2022, 47% of Americans did not have an active life insurance policy of any type.
  2. Age is an important factor when it comes to determining life insurance premium rates. The older the applicant is, the more expensive their premiums will be. Hence, taking out a life insurance policy as early as possible can save applicants a significant sum, in the long run.
  3. Roughly 26% of the adults in Franklin County smoke, and this habit will likely negatively affect the life insurance premiums of these individuals 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. Besides the death benefit, which the beneficiaries receive after your death, you can use life insurance while still alive to:
  • Use for retirement income replacement that comes free of the federal income tax and to
  • Help pay the costs of a terminal illness.

Franklin County - Funeral Expenses Statistics and Analysis

Franklin County has an average funeral cost of approximately $7,700, and the same figure applies to one if its neighbors, Wakulla County. Liberty County, on the other hand, has an average cost of $9,400. Gulf County has the lowest figure in the region with, $6,800. All average funeral costs in the area are above the Florida average of $5,900.
Across Florida, Collier County’s average of $9,600 tends to be the highest in the state , while Putnam County and DeSoto County have the lowest figures, both at closer to $4,600.

Life Insurance Analysis

  1. With 46% of Americans passing away with savings of less than $10,000, the family and friends of Franklin County senior residents may be struggling to pay the funeral costs. (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 funeral cost, the deceased often leave outstanding loans and taxes for the family to deal with, which makes the family’s financial hurdles even more difficult.
  3. In most cases, Term Life Insurance and Final Expense Insurance (FE) 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, several types of Universal Life insurance, and Final Expense insurance (FE).
    To get advice regarding life insurance in Franklin County, 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.

Franklin County - Business

Commercial insurance needs vary between each of the nearly 400 business establishments in Franklin County. The three largest job-creating sectors, accounting for approximately 67% of all employment in 2020 were:

  • Government (26.8%)
  • Education & Health Services (21.2%)
  • Manufacturing (19.2%)

Commercial Insurance Analysis

  1. Health providers usually get medical malpractice coverage according to the amount of damage their work can cause to the patients.
  2. 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.
    To assess your business insurance needs in Franklin County, speak with a knowledgeable Florida-licensed commercial insurance agent with access to multiple insurers and premium financing options.