An estimated 2,199,505 private and commercial vehicles call the roads of Miami-Dade County their home. This number accounts for approximately 12% of all vehicles registered in the entire state of Florida.
Over 76% of adult drivers in Miami-Dade County commute to work by themselves, and more than half of those commutes last for over 30 minutes.
With an estimated 20% of Florida drivers uninsured, about 440,000 vehicles in Miami-Dade County alone could be uninsured or underinsured.
Nearly every third crash in Miami-Dade County is a hit and run.
Motor vehicle fatalities in Miami-Dade County statistically occur at a rate of 11.10 per 100,000 vehicles on the road: approximately 244 fatal crashes per year.
In 2021, the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) reported over 62,338 crashes in Miami-Dade County: 343 fatal crashes, with a resultant 372 deaths (including 55 motorcyclists). Alcohol is determined as the main factor for the fatal crashes in Miami-Dade County in an estimated 10% of all driving fatalities.
Over 2 million vehicles registered in Miami-Dade 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, Non-owners car insurance, Commercial Transportation, Inland Marine, Gap, Ride-sharing, Short-term car insurance, and so on.
Over 1.3 million drivers commuting daily is one of the reasons why auto premium costs in Miami-Dade 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.
Longer daily commute of nearly 979,000 Miami-Dade 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.
The amount of vehicles on the roads keeps going up year after year, and with a third of crashes as a hit-and-run and with 1 out of 5 drivers uninsured, Uninsured and Underinsured coverage remains important for Miami-Dade County residents.
To discuss your auto insurance needs and to find affordable car insurance in Miami-Dade County, contact a knowledgeable Property & Casualty (P&C) insurance agent licensed in the state of Florida.
Unlike the majority of Florida, where the homes are mostly (65%) owner-occupied, Miami-Dade County’s estimated 1,064,318 housing unit market is split almost evenly between Homeowner-occupied and Renters (51% to 49%). Almost every other residence is a rental, which is also unlike the neighboring counties, which largely consist of homes occupied by owners: Collier County leads with more than 73% of its residential real estate occupied by owners, Broward County rents out 38%, while Monroe County is split 60% owner-occupied / 40% for rent.
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.
Nearly 30% of housing units in Miami-Dade 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.
Over 1 million housing units in Miami-Dade 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.
With over 500,000 housing units in Miami-Dade County as rentals, landlords obtain Landlord Insurance, which covers the property itself and from the possible liability claims arising from the tenants and their guests.
Renters insurance Miami: Tenants buy Renters Insurance coverage to protect their belongings from possible damage or loss while residing in a rented space. 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 Miami-Dade County may require Renters insurance as a condition of the lease.
Miami-Dade 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 Miami-Dade 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 Miami-Dade 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 Miami-Dade 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)
In Miami-Dade County, over 23% of adult residents lack proper health insurance coverage, which is higher than the state-average (≈19%), but not the highest among the peer neighboring counties. From lowest to highest: Broward County (over 19%), Monroe County (over 22%), and Collier County, with the highest uninsured rate of over 26%. The highest uninsured adult rate in the state of Florida is in Hendry County, with 35% of residents uninsured, while the lowest rate is observed in St. Johns County at under 13% of the adult residents.
More than 1 in 4 adults (or nearly 658,000 residents) in Miami-Dade County report problems with health.
Nearly 23% of the Miami-Dade County population do not participate in physical exercise activities.
Over 22% of the Miami-Dade County residents are considered obese (with a BMI of 30 or more), which is lower than the Florida average of over 27%. Among the neighboring counties, all areas are also below the state-average: Monroe County reports the lowest – at under 21% of the residents, while almost 25% of adults from Broward County may be considered obese.
In 2022, there were 14 health insurers in Miami-Dade County, offering affordable and frequently subsidized ACA health insurance on the Florida marketplace.
Health insurance is the most important insurance coverage, and over 500 thousand residents of Miami-Dade County lack this necessity.
Florida is among the states that allow the sale of multiple types of health insurance and supplemental health insurance. This makes it easier for Miami-Dade 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 insurance, Accident & Health insurance, etc.
Low income health insurance: If health insurance is not being purchased due to unaffordability, low-income residents of Miami-Dade County are generally advised to apply for government health insurance subsidies, which can substantially lower the health insurance cost.
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 Miami-Dade County residents. Offerings of health insurance coverage and its pricing may differ between zip codes.
A Florida health insurance agent: analyzes your health 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 researches the available discounts and bundling options, assists you with the application process, and at any time you need to make a change to the policy, or shop for replacement coverage.
Average life expectancy for the residents of Miami-Dade County is between 82 and 83 years old, which is higher than the state average in Florida (80). Among the neighboring counties, Collier County shows longer life spans, posting the longest average in the state. At over 86 years old, it adds more than 3 years on top of Miami-Dade County and 6 over the state average. Broward County and Monroe County both average at over 81 years old. While Collier County has the longest average life expectancy, the shortest average life span in Florida is seen in Union County, at under 69 years old.
In 2022 there were approximately 451,000 seniors (65 and older) residing in Miami-Dade County.
In 2022, 47% of Americans did not have an active life insurance policy of any type.
Life insurance premiums are based on the age of the insured when the policy begins, among other factors. The younger you are when you get it, the more you save in premiums over the course of the policy.
Nearly 16% of the adults in Miami-Dade County smoke, and this habit will likely affect the life insurance costs of more than 344,000 adults 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.
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.
Funeral expenses in and around Miami-Dade County vary drastically. The average price of a funeral in Miami-Dade County is around $5,700, which is in line with the Florida state average (of $5,900) and the lowest cost in the surrounding area. Among the neighbors of Miami-Dade County, Collier County has the highest average funeral cost of almost $9,600, while Broward County is at $5,800.
Statewide, Collier County tends to have the most expensive funerals, while Putnam County and DeSoto County have the lowest, both closer to $4,600.
(Note: If using senior life insurance as payment for the funeral services, most funeral homes require the policy to be “assignable”)
Besides the burial costs, the deceased frequently leave taxes and other debt behind for the family to take care of. Discuss your senior life insurance options with licensed Florida professionals.
The most frequently used life insurance policies to cover “final expenses” up to $50,000 are: Term Life Insurance and Final Expense (also known as Burial insurance). 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, Final Expense (FE) and multiple Universal Life insurance policies.
To find out more about life insurance options and to get life insurance quotes in Miami-Dade County, speak with a knowledgeable state-licensed and experienced life insurance professional who has access to multiple insurers and plan types for comparison.
Commercial insurance needs vary between each of the nearly 110 thousand business establishments in Miami-Dade County. The three largest job-creating sectors, accounting for over 56% of all employment in the county in 2020 were:
Professional and Business Services (16.8%)
Financial activities (14.7%)
Manufacturing businesses usually require insurance coverage for:
Production facilities and property
Employees’ health and safety
Product liability coverage protects the manufacturer itself if their product hurts the consumer and a claim or a lawsuit is filed against the company.
To assess your business insurance needs in Miami-Dade 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.