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Indian River County

Driving in Indian River County

There are approximately 136,769 registered vehicles in Indian River County used for personal and business purposes. This figure represents around 0.76% of all the automobiles in Florida.

Over 80% of the adult drivers in Indian River County are alone in their vehicles when commuting to and from work, and over 1 out of 4 of these drivers are behind the wheel for over half an hour.

With 20% of Florida drivers being uninsured, it is safe to presume that over 27,000 vehicles in Indian River County alone could be uninsured or underinsured.

Approximately a fifth of vehicle crashes in Indian River County are hit and runs.

Motor Vehicle Crashes in Indian River County

Deaths caused by vehicular collisions in Indian River County statistically occur at a rate of 13.80 per 100,000 vehicles on the road: more or less 18-19 fatal crashes per year.

In 2021, the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) reported 2,332 crashes in Indian River County: 22 fatal crashes that caused 22 deaths (including 2 motorcyclists). Alcohol is determined as the main factor for the fatal crashes in Indian River County in over 26% of all driving fatalities.

Auto Insurance Analysis

  1. Over 136 thousand vehicles registered in Indian River 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 Private Auto, Commercial Auto, Comprehensive Coverage, Commercial Transportation, Inland Marine, Gap, Ride-sharing, and so on.

  2. The long daily commute of over 22,000 Indian River County residents raises the cost of auto insurance because it increases the amount of time a driver spends on the road, which in return increases the chances of getting into a possible car accident.

  3. With every fifth crash as a hit-and-run and nearly 1 out of 5 drivers uninsured, Uninsured Driver Coverage remains important for Indian River County residents.

To discuss your auto insurance needs and to find affordable car insurance in Indian River County, contact a knowledgeable Property & Casualty (P&C) insurance agent licensed in the state of Florida.

Indian River County Housing

There are around 86,115 housing properties in Indian River County, which are primarily occupied by the owners themselves (79%), just like the majority of Florida (≈65%). Roughly 21% of the homes are rental units. Indian River County also has the highest homeownership rate among its neighbors.

Most of the neighboring counties are also dominated by owner-occupied homes. Next to Indian River County is Brevard County with 74% of its homes inhabited by the owners followed by St. Lucie County with 73%. Meanwhile, Osceola County offers the largest (38%) portion of its real estate for rent.

Across Florida, Sumter County has the most homes occupied by owners (nearly 90%) while Miami-Dade County offers the highest (49%) portion of its real estate as rentals.

Over 15% of housing units in Indian River County experience housing problems, overcrowding, poor 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

  1. Over 86 thousand housing units in Indian River 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.

  2. With over 18,000 housing units in Indian River County as rentals, landlords obtain Landlord Insurance, which covers the property itself and the possible liability claims arising from the tenants and their guests. If you rent your home, your insurer must know about it or your claims can be denied.

  3. Renters insurance Sebastian: Tenants buy Renters Insurance coverage to protect their belongings from possible damage or loss. Average renters’ insurance is inexpensive and usually covers the tenant's property from theft and damages caused by fire, smoke, water, and vandalism. Some landlords in Indian River County may require Renters insurance as a condition of the lease.

  4. Indian River 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 Indian River 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 Indian River County need to maintain appropriate insurance coverage to protect their property against possible loss and damage from wind and water damage.

For consultation and to get a quote on Homeowners, Renters, Condo, Flood, and other types of insurance in Indian River 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 and is usually able to find a better deal than a consumer can find on their own,

  • 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)

Indian River County Health

In Indian River County, almost 21% of adults do not have proper health insurance coverage, and this figure is higher than the state average (≈19.2%). Compared to its neighbors, Okeechobee County has the highest uninsured rate of over 27% while Brevard County has the lowest uninsured adult rate at 16.

Over 18% (or over 30,000 residents) in Indian River County report problems with health.

This is probably due to the fact that among the adult population, 21% smoke, and 22% consume alcohol excessively. Over 1 out of 4 (≈25%) of the total population does not exercise regularly despite the fact that virtually most of them (≈84%) have access to areas where physical exercise can be done.

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

Health Insurance Analysis

  1. Health insurance is the most vital type of insurance coverage, and over 25 thousand residents of Indian River County lack this necessity.

  2. Floridians are permitted to purchase multiple types of health insurance and supplemental products inside the state. This makes it easier for Indian River County residents 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.

  3. Low-income health insurance: Since not everyone is able to afford health insurance, 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 health coverage.

  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 various health insurance plans available to Indian River 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.

Indian River County End of Life Statistics and Analysis

The average life expectancy for the residents of Indian River County is 81.2 years old, which is higher than the state average in Florida (80). It is the highest among its neighbors followed by St. Lucie County with an 80.5-year average. Statewide, Collier County shows a longer life span of 86, posting the longest average in Florida, while the shortest life span is seen in Union County, at under 69 years old.

In 2022 there were approximately almost 56,000 seniors (65 and older) residing in Indian River County.

Life Insurance Facts

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

  2. Life insurance premiums are based on the age of the insured when the policy begins, among other factors. The younger you are when you lock in your best rate, the more you save in premiums over the course of the policy.

  3. More than 20% of the adults in Indian River County smoke, and this habit will definitely increase the life insurance premiums of roughly 28 thousand residents 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.

Indian River County Final Expenses Statistics and Analysis

Funeral expenses in and around Indian River County vary drastically. The average price of a funeral in Indian River County is around $4,700, which is lower than the Florida state average (of $5,900). It is also the lowest funeral cost among its neighbors. Among the neighbors of Indian River County, Osceola County has the highest average funeral cost of almost $7,300.

Statewide, Collier County usually has the most expensive funerals, while Putnam County and DeSoto County have the lowest, both closer to $4,600.

Life Insurance Analysis

  1. With 46% of Americans dying with savings of less than $10,000, about 26 thousand Indian River County senior residents could be placing an unnecessary and frequently unbearable financial burden on family and friends. Instead of grieving their loss, the family must concentrate on finding a way to pay. (Note: If using life insurance as payment for the funeral services, most funeral homes require the policy to be “assignable”)

  2. Besides the burial costs, the deceased frequently leave taxes and other debt behind for the family to take care of.

  3. The most frequently used life insurance policies to cover “final expenses” up to $50,000 are Term Life Insurance and Final Expense Insurance.

  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.

To find out more about life insurance options and to get life insurance quotes in Indian River County, speak with a knowledgeable state-licensed and experienced life insurance professional who has access to multiple insurers and plan types for comparison.

Indian River County - Business

Commercial insurance needs vary between each of over 5 thousand business establishments in Indian River County. The three largest job-creating sectors, accounting for over 54% of all employment in the county in 2020 were:

  • Professional and Business Services (20.5%)

  • Manufacturing (20%)

  • Education and Health Services (13.7%)

Commercial Insurance Analysis

  1. Over 1 thousand professional services and consulting businesses in the county can benefit from professional liability insurance, also known as Errors and Omissions insurance (E&O insurance), that protects their clients in case the professional advice they give causes damages or losses.

  2. Manufacturing businesses usually require insurance coverage for:

    • Employees’ health and safety

    • Production facilities and property

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

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

To assess your business insurance needs in Indian River County and to get a commercial insurance quote, speak with a knowledgeable Florida-licensed commercial insurance agent with access to multiple insurers and premium finance options. Always try to compare at least 2 or 3 options before deciding on the coverage.