Martin County

Martin County Driving Statistics and Analysis

Martin County’s highways are considered home to approximately 133,018 personal and commercial automobiles. This number constitutes around 0.75% of all the registered vehicles in the entire state of Florida.

Nearly 79% of adult drivers in Martin County travel to and from work alone, and about 36% of those commutes take more than half an hour to complete.

With 1 in 5 drivers in Florida being uninsured, it is estimated that about 27,000 vehicles in Martin County alone could be uninsured or underinsured.

Approximately 20% of crashes in Martin County are hit-and-run.

Motor Vehicle Crashes in Martin County

Martin County’s automobile fatalities statistically occur at a rate of 12.89 per 100,000 vehicles on the road: Roughly 17 fatal crashes yearly.

In 2021, the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) reported 2,912 crashes in Martin County: 28 fatal crashes, with a resultant 29 deaths (including five motorcyclists). Alcohol was determined as the main factor for the deadly crashes in Martin County in an estimated 30% of all driving fatalities.

Auto Insurance Analysis

1. Martin County has over 133 thousand registered vehicles that require some type of insurance coverage. Basic Liability and Personal Injury Protection (PIP) coverage are required by law for all automobiles to safeguard others from the damages you may cause during a vehicular accident. The additional required insurance will depend on the type of vehicle and how it is used. Available options are: Private Auto, Farm or Commercial Auto, Comprehensive Coverage, Farm or Commercial Transportation, Inland Marine, Gap, Ride-sharing, Temporary car insurance, etc.
2. With a fifth of crashes as a hit-and-run and with 20% of drivers uninsured, Uninsured Driver Coverage is still valuable for the residents of Martin County.

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

Martin County Housing Statistics and Analysis

Martin County has roughly 82,229 housing units which are split between Homeowners (78%) and Renters (22%). The percentage of homeowner-occupied homes in Martin County is higher than the Florida state average of 65%. Among Martin County’s neighbors, the highest homeowner-occupied rate is observed in Glades County with almost 80%, while Hendry County has the lowest, at approximately 65%.
Across Florida, Sumter County has the most homes occupied by owners (nearly 90%), while Miami-Dade County offers the highest percentage of its real estate as rentals (49%).
17% of homes in Martin County experience different housing problems like plumbing issues, overcrowding, or kitchen problems; at the same time, approximately 1 in 4 homes spend more than half of the resident’s income on paying for housing.

Housing Insurance Analysis

1. Over 82 thousand housing units in Martin County need insurance coverage. The minimum insurance coverages needed are Homeowners, Condo Insurance, and/or Business Property Insurance (for apartment complexes). These insurance coverages protect the owner’s assets from damages or loss.
2. With approximately 18,000 housing units in Martin County listed as a rental, landlords acquire Landlord Insurance to protect the property from any liability claims that can come from the tenants.
3. Renters insurance Palm City: Tenants obtain Renters Insurance to safeguard their property from damages or theft. This insurance coverage is very affordable and can cover the tenant’s property from loss and damages caused by fire, smoke, water, and vandalism. The landlord usually includes Renters Insurance as part of the lease conditions.
4. Martin County is located on the coast, not far from one of the main hurricane formation areas in the Atlantic Ocean. Wind and flood damage are brought by hurricanes. The highest probability of a hurricane occurrence in Martin County is between early June and the end of November. Every Florida resident should be aware of the guides and procedures set in place by the local County and State agencies. All homeowners, landlords, and renters in Martin County should carry adequate insurance coverage to safeguard their property against possible loss and damage from wind and water damage.
   For consultation regarding Homeowners, Renters, Condo, Flood, and other types of insurance in Martin 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)

Martin County Health Statistics and Analysis

Roughly 18% of Martin County residents do not have proper health insurance coverage, which is the lowest rate compared to its nearby counties. Among Martin County’s neighbors, Hendry County has the highest uninsured adult rate, with nearly 35%, which is also the highest in the entire state of Florida, with St. Johns County being the lowest, at just under 13%. In 2021, the average uninsured adult rate in the state of Florida was 19%.
Approximately 16% of adults (or over 26,000 residents) in Martin County report health problems.
23% of the residents in Martin County do not engage in any physical exercise activities, which may be one of the reasons why nearly 20% (lowest within Florida state) of its population are considered obese (with a BMI of 30 or more). Compared to Martin County’s neighbors, Glades County has the highest obesity rate, at 39%, followed by Okeechobee County, with nearly 34%. The average obesity rate in the entire state of Florida is over 27%.
In 2022, there were 14 health insurers in Martin County offering inexpensive and frequently subsidized ACA health insurance on the Florida health marketplace.

Health Insurance Analysis

1. Over 23 thousand Martin County residents do not have the most important insurance coverage, which is Health Insurance.
2. Florida is among the states that allow the sale of multiple types of health insurance and supplemental products. This makes it very convenient for Martin County residents to acquire coverage that fits their specific needs (both medically and financially). Some of the available insurance coverages are as follows: 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: Martin County residents that do not have the means to purchase health insurance are generally advised to apply for government subsidies to significantly lower the out-of-pocket costs of health insurance.
4. Another way to save money if you do not have any pre-existing conditions is to purchase Short-term Insurance. (*Some Florida multi-year short-term health insurance plans may cover certain pre-existing conditions after a year or more of coverage)
   Explore your insurance needs with a state-licensed Florida health insurance professional with access to various health insurance plans available in Martin County. 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.

Martin County End of Life Statistics and Analysis

Martin County’s average life expectancy is around 82.3 years, which is close to the Florida state average of 80.1 years. Among its nearby counties, Glades County has the longest average life span, at 84.1 years, while the shortest is observed in Okeechobee County, at just 76.4 years.
Across the entire state of Florida, Collier County has the highest life expectancy, of over 86 years, while Union County reports the lowest, at under 69 years.
In 2022 there were approximately 51,000 seniors (65 and older) residing in Miami-Dade County.

Life Insurance Facts

1. In 2022, 47% of Americans did not have an active life insurance policy of any type.
2. Age is a significant factor when determining the life insurance premium rate of the policyholder. So, residents can save more in life insurance premiums over the course of the policy if they get it while they are young.
3. 19% of adults in Martin County are smokers, which will significantly increase the cost of the life insurance policies of almost 26 thousand residents by up to 4 times. This is because a smoker’s life expectancy is deemed shorter than that of a non-smoker.
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.

Martin County Funeral Expenses Statistics and Analysis

Funeral expenses in and around Martin County vary drastically. The average funeral cost in Martin County is around $5,900, which is similar to the Florida state's average and is the second-lowest cost in the surrounding area. Among Martin County’s neighbors, Palm Beach County posts the highest average funeral cost of almost $6,300, while the lowest is observed in St. Lucie County, at around $5,800.
Statewide, Collier County tends to have the most expensive funerals (≈$9,600), while Putnam County and DeSoto County have the lowest, both closer to $4,600.

Life Insurance Analysis

1. With approximately 46% of Americans dying with no more than $10,000 in savings, over 23 thousand Martin County senior residents could be placing a tough financial obligation on their families and loved ones. They may have to set aside mourning as they will need to find ways to settle unpaid balances.
2. Unpaid taxes and other debts are often left by the deceased, which the family needs to take care of. Discuss your senior life insurance options with licensed Florida professionals.
3. Term Life Insurance and Final expense Insurance are the most used life insurance policies to cover “final expenses” up to $50,000.
4. Term Life Insurance and Cash Value Insurance, such as Whole Life Insurance, Indexed Universal Life (IUL) Insurance, and Final Expense (FE), are the most used life insurance policy variations to leave money to the family.
   To find out more about life insurance options and to get life insurance quotes in Martin County, speak with a knowledgeable state-licensed and experienced life insurance professional who has access to multiple insurers and plan types for comparison.

Martin County - Business

Commercial insurance needs vary between each of the nearly 7 thousand business establishments in Martin County. The three largest job-creating sectors, accounting for over 54% of all employment in the county in 2020, were:

• Professional and Business Services (21%)
• Manufacturing (19.2%)
• Financial activities (14.1%)

Commercial Insurance Analysis

1. Over two thousand professional services and consulting businesses in the county can benefit from the 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:

• Production facilities and property
• Employees’ health and safety
• Product liability coverage protects the company itself in case the product hurts someone and the injured party files a claim or a suit against the manufacturer.
  To assess your business insurance needs and to get a commercial insurance quote in Martin 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.