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Madison County

Madison County Driving Statistics and Analysis

The highways of Madison County are considered home to around 15,300 personal and commercial vehicles. This figure amounts to about 0.08% of all the vehicles registered in the entire state of Florida.

Nearly 84% of adult drivers in Madison County travel to and from work by themselves, and more than a third (37%) of those commutes require more than half an hour to complete.

Approximately 1 in 5 drivers in Florida are uninsured, which could mean around 3,000+ automobiles in Madison County may be uninsured or underinsured.

Nearly 1 in 5 crashes in Madison County is reported as a hit-and-run.

Motor Vehicle Crashes in Madison County

Vehicular fatalities in Madison County statistically occur at a rate of 22.42 per 100,000 vehicles on the road: Around three fatal crashes yearly.

In 2021, the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) reported 445 crashes in Madison County: 5 fatal crashes, with a resultant 5 deaths. Alcohol is determined as the main factor for the fatal crashes in Madison County in an estimated 28% of all driving fatalities.

Auto Insurance Analysis

  1. More than 15 thousand registered automobiles in Madison County need insurance coverage. Liability Coverage is required for all vehicles by Florida state to protect others from the damages you may cause during a vehicular accident. On the other hand, The required insurance depends on the type of vehicle and usage. Some of the options for auto insurance may be Farm Auto, Farm Transportation, Comprehensive Coverage, Inland Marine, Non-owner Car Insurance, etc.
  2. Over 9 thousand drivers commuting daily is one of the reasons why auto premium costs in Madison County tend to be higher, compared with less densely populated counties. Everyone driving a separate vehicle means that there are more vehicles on the road, which increases the likelihood of a collision. Risk goes up, so do the premium prices.
  3. The roads of Madison County are mostly rural. Although vehicles that use rural roads have a lesser chance of getting into a vehicular collision, 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.
  4. More and more vehicles populate the roads of Madison County each year, and with 1 in 5 crashes reported as a hit-and-run and with 20% of drivers being uninsured, Uninsured and Underinsured coverage remains important for Madison County residents.

To learn more about your auto insurance in Madison County, contact a knowledgeable Property & Casualty (P&C) insurance agent licensed in the state of Florida.

Madison County Housing Statistics and Analysis

It is estimated that the 8,822 housing unit market in Madison County is mostly made up of homeowner-occupied properties, at a rate of nearly 74% versus 26% for renters. Nearby counties’ homes are also mostly inhabited by the people who own them, with Lafayette County leading at 84% for owners and 16% for renters, followed by Taylor County and Jefferson County, both with 77% of homes inhabited by the owners. The average homeowner-occupied rate in the entire state of Florida is 65%.
1 in 5 (20%) housing units in Madison County suffers from housing problems like kitchen issues, overcrowding, or poor plumbing. In approximately 25% of homes, residents allocate more than half of their salary to housing alone.

Housing Insurance Analysis:

  1. To safeguard the financial investment from the possibility of damages or loss, nearly 9 thousand housing units in Madison County need insurance coverage. All owners of these properties should have at least Condo Insurance, Homeowners, and/or Business Property Insurance (for apartment complexes).
  2. Landlords acquire Landlord Insurance to shelter the property from possible liability claims that can come from the tenants and their guests.
  3. Renters Insurance Madison City: To protect the tenant’s possessions from possible damage or loss, they have the option to obtain Renters Insurance coverage. Renters insurance is usually less expensive and generally covers the tenant’s property from theft, damages caused by fire, smoke, water, and vandalism. Some Madison County landlords require renters insurance as one of the conditions in the lease.
    For consultation regarding Homeowners, Renters, Condo, Flood, and other types of insurance in Madison County, contact a Property & Casualty (P&C) insurance agent licensed in the state of Florida.
    A Florida P&C insurance agent:
  • Examines your needs and limitations
  • Examines your current policy to ensure that the coverages reflect the housing market's current requirements and help update if needed
  • Reviews the local plans that meet your requirements and is generally able to discover a better offer than a customer might get on their own
  • Checks for available savings and bundling discount
  • Lays out available options of coverage
  • Describes the effect of the different options once the insurance policy becomes active
  • Helps you with the process of application
  • Does not influence your cost of insurance (Agent’s service is usually paid by the insurer)

Madison County Health Statistics and Analysis

Madison County is ranked 4th regarding proper health insurance coverage compared to its neighboring counties. Approximately 18% of adults in Madison County do not have adequate health insurance coverage. The highest uninsured adult rate among Madison County’s neighbors is in Lafayette County, at 23%, while the lowest uninsured adult rate is in Jefferson County, with almost 16%.
Across Florida, the highest uninsured adult rate is in Hendry County, with 35%, while the lowest rate is observed in St. Johns County at under 13% of the adult residents. In 2021, the average adult uninsured rate in Florida was around 19%.
Roughly 28% of adults (or 5,000+ residents) in Madison County experience health problems. In addition, nearly one-third of Madison County residents do not engage in physical exercise activities, which may be one of the contributing factors to why almost 36% of its residents are considered obese (with a BMI of 30 or more). Among its neighbors, Hamilton County posts the highest obesity rate, with nearly 40% of its residents, while the lowest rate for residents considered obese is in Lafayette County, at under 34% – still higher than the Florida average of 27%.
In 2022, there were 14 health insurers in Madison County offering affordable and frequently subsidized ACA health insurance on the Florida health marketplace.

Health Insurance Analysis:

  1. Health insurance is the most important insurance coverage, and almost 3 thousand residents of Madison County do not have this necessity.
  2. Florida is among the states that allow the sale of multiple types of health insurance and supplemental products. This makes it easier for Madison County residents to obtain coverage that fits their specific needs (both medically and financially): 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: If health insurance is not being purchased due to unaffordability, low-income residents are generally advised to apply for government subsidies, which can substantially lower the cost of insurance.
  4. Short-term insurance may provide an alternative option for residents without a pre-existing condition. (*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 Madison County residents. Offerings of health insurance coverage and its pricing 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.

Madison County End of Life Statistics and Analysis

Madison County has an average life expectancy of roughly 75.5 years, which is the lowest when compared to its adjacent neighbors. Madison County also leads state-wide in terms of low birth weight, affecting around 12.61% of newborn babies, which may contribute to the residents’ average lifespan being low. Looking at Madison County’s neighbors, Jefferson has the highest average life span, posting 77.6 years, closely followed by Lafayette County, with 77.1 years.
In the entire state of Florida, the longest average life expectancy is observed in Collier County, with over 86%, while the lowest average life span is seen in Union County, at under 69 years. The average life expectancy in Florida is at 80 years old.
Nearly 4,000 seniors (65 and older) lived in Madison County in 2022.

Life Insurance Facts:

  1. About 47% of Americans did not have any sort of active life insurance policy in 2022.
  2. Life insurance companies consider the age of the insured to determine the premium rate when the policy starts. Given this fact, if a resident purchases life insurance at a younger age, they’ll save money over the course of the policy.
  3. Approximately 27% of the adults in Madison County are smokers, and this habit will likely affect the life insurance costs of these adults who may have to pay 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.
  4. Besides the death benefit, Cash Value life insurance can be used for Living Benefits by the insured while they are still alive, to borrow against it, or used as a source of tax-free retirement income.

Madison County - Funeral Expenses Statistics and Analysis

The average funeral cost in Madison County is around $7,000, which is the highest cost compared to its nearby neighbors, with Taylor County and Jefferson County coming in at close second, both with roughly $6,900. On the other hand, Suwannee County reports the lowest average funeral cost in the region, at $5,000. These costs usually include basic service fees, casket, embalming, transportation, viewing, and burial.
Statewide, Collier County tends to have the most expensive funerals at about $9,600, while Putnam County and DeSoto County have the lowest, both closer to $4,600.

Life Insurance Analysis:

  1. About 46% of Americans die with less than $10,000 in savings, which means that senior residents of Madison County may be placing a financial burden on their families and friends. Instead of grieving their loss, they will need to find a way to pay unsettled funeral bills. (Note: If using life insurance as payment for the funeral services, most funeral homes require the policy to be “assignable”)
  2. Aside from the burial costs, the family usually needs to settle unpaid taxes and other debts left behind by the deceased. Discuss your senior life insurance options with licensed Florida professionals.
  3. Final Expense (FE) Insurance and Term Life Insurance are the most commonly used life insurance that can cover “final expenses” for up to $50,000.
  4. Term Life Insurance and variations of Permanent Life Insurance: Whole, Indexed Universal Life are among the most frequently used life insurance policies to leave money to the family.
    To find out more about life insurance options and to get life insurance quotes in Madison County, speak with a knowledgeable state-licensed and experienced life insurance professional who has access to multiple insurers and plan types for comparison.

Madison County - Business

Commercial insurance differs between more than 400 business establishments in Madison County. The three largest job-creating sectors, accounting for 65% of all employment in the county in 2020 were:

  • Government (27.5%)
  • Education & Health Services (20.9%)
  • Trade, Transportation and Utilities (16.7%)

Commercial Insurance Analysis

Health care professionals can benefit from Medical malpractice coverage, which protects both the patients and the insured medical professionals.
Retail businesses typically insure all business-owned or leased property and the employees. Besides that, every customer-facing operation typically requires liability insurance, in case the visitor gets hurt on the premises or by using the product. If the business stores and transports goods, it needs inventory insurance and inland marine coverage.
To assess your business insurance needs and to get a commercial insurance quote in Madison County, 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.