Lafayette County

Driving in Lafayette County

There are about 6,811 private and commercial vehicles registered in Lafayette County, and this number constitutes around 0.04% of all Florida-registered vehicles.

Approximately 88% of adult drivers in Lafayette County do their daily commutes driving to and from work on their own, and this percentage is the highest across Florida. Nearly half of these drivers take more than 30 minutes to get to their place of work.

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

Motor Vehicle Crashes in Lafayette County

Deaths caused by vehicular collisions in Lafayette County statistically occur at a rate of 28.07 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 48 crashes in Lafayette County: 1 fatal crash that caused 1 fatality. Studies have shown that in 23% of traffic-related fatalities, alcohol was a significant factor — which is the lowest percentage in the state of Florida.

Auto Insurance Analysis

1. Close to 7 thousand vehicles registered in Lafayette 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: Private Auto, Non-owners car insurance, Multi car insurance, Commercial or Farm Transportation, Short-term car insurance, and so on.
2. Virtually all of Lafayette 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 an increase in the black bear population in the Big Bend 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 Lafayette County residents.

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

Lafayette County Housing

About 84% of the estimated 3,400 housing units in Lafayette County are inhabited by the owners, and 16% are rental units. Lafayette County and all of its peer counties are above the Florida state average for owner-occupied homes (≈65). With owner-occupancy rates of 74%, Suwannee County and Madison County have the lowest figure in the region, while Gilchrist Count’s 83% is the second-highest, after Lafayette County.
About 15% of the homes in Lafayette 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 3 thousand residential units in Lafayette 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 their investments.
2. Landlords in Lafayette County get Landlord Insurance, which covers the property itself and the possible liability claims arising from the tenants and their guests.
3. Lafayette County tenants secure Home 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 Lafayette County may require Home Renters Insurance before putting pen to paper on a lease.
   For consultation and to get a quote for Homeowners, Renters, Condo, Flood, and other types of property insurance in Lafayette 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)

Lafayette County Health

Around 23% of the adults in Lafayette County do not have proper health insurance, and this figure is the highest in its region, followed by Suwannee County at 22%. Gilchrist County and Dixie County are at par with the Florida average of 19%, and Taylor County has the lowest rate at 17%. Across Florida, Hendry County has the highest figure in Florida at 35%, while St. Johns County has the lowest rate at 13%.

Approximately 28% (≈2,300) of Lafayette County residents experience health issues. This is partially due to the fact that among the adult population, 27% smoke, 18% consume too much alcohol, and around 33% of the residents do not exercise regularly.

The fact that almost 1 in 3 Lafayette County residents do not exercise regularly contributes to Lafayette County’s 34% obesity rate (BMI of 30 or more) — this rate is above the Florida average of 27%. Among the peer counties, Suwannee County has the highest obesity rate at 39%, while Dixie County has the lowest at 33%.

In 2022, there were 14 health insurers in Lafayette 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 medical expenses that keep you alive and healthy. But despite this fact, nearly 2,000 residents (below 65 years old) of Lafayette 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 for Lafayette County residents 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. Many low-income residents ask “How to get affordable health insurance?” They could apply for government subsidies to significantly reduce health insurance costs.
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 plans available to Lafayette 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.

Lafayette County Mortality and the End of Life Statistics

The average Lafayette County resident has a lifespan of 77.2 years, which is the longest in its immediate area. The second-longest life expectancy is observed in Gilchrist County at 76.9 years. All of the life expectancy figures in the region are below the Florida average of 80.2 years.
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 1,500 seniors (65 and older) residing in Lafayette County.

Life Insurance Facts

1. In 2022, 47% of Americans did not have an active life insurance policy of any type.
2. Older life insurance applicants are expected to pay more in premiums. This is why securing a policy at a younger age is generally advised for young adults to be able to save money on premiums.
3. Roughly 27% of the adults in Lafayette 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. 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.

Lafayette County - Funeral Expenses Statistics and Analysis

A traditional funeral in Lafayette County could cost around $7,900, which is higher than the Florida state average of $5,900. It is also the most expensive average in its region, closely followed by Dixie County with a $7,800 average. The most affordable funerals in the area are observed in Suwannee County at an average cost of $5,000.
Across Florida, Collier County’s average of $9,600 is deemed as the most expensive in Florida, 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 some Lafayette County senior residents may have to figure out how to pay for the funeral instead of mourning their loss. (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 more difficult.
3. In most cases, Term Life Insurance and Final Expense Insurance (FE) can help cover “final expenses” 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 life insurance (FE).
   To get advice regarding life insurance and to get life insurance quotes in Lafayette County, reach out to a knowledgeable and Florida-licensed life insurance agent who has access to multiple insurers and plan types for comparison on a case-by-case basis.

Lafayette County - Business

Commercial insurance needs vary between each of the estimated 136 business establishments in Lafayette County. The three largest job-creating sectors, accounting for approximately 71% of all employment in 2020 were:

• Government (42.3%)
• Manufacturing (17.0%)
• Professional & Business Services (11.5%)

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.

1. 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.

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