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Okaloosa County

Okaloosa County Driving Statistics and Analysis

It is estimated that 177,619 private and commercial vehicles utilize the roads of Okaloosa County, calling it their home. This number accounts for around 1% of all vehicles registered in the entire state of Florida.

About 82% of adult drivers in Okaloosa County commute to work alone in their cars, and nearly 1 in 3 of those commutes need more than 30 minutes to complete.

With an estimated 20% of Florida drivers uninsured, over 35,500 vehicles in Okaloosa County alone could be uninsured or underinsured.

Every 4th crash in Okaloosa County is a hit and run.

Motor Vehicle Crashes in Okaloosa County

Motor vehicle fatalities in Okaloosa County statistically occur at a rate of 13.96 per 100,000 vehicles on the road: approximately 25 fatal crashes per year.

In 2021, the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) reported 3,420 crashes in Okaloosa County: 39 fatal crashes, with a resultant 41 deaths (including 13 motorcyclists). Statistically, over 25% of all driving fatalities in Okaloosa County involve alcohol.

Auto Insurance Analysis

  1. Over 177 thousand vehicles registered in Okaloosa 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 longer daily commute of around 44,000 Okaloosa 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 fourth of crashes as a hit-and-run and with 1 out of 5 drivers uninsured, Uninsured Driver Coverage is increasingly important for Okaloosa County residents.

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

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Car Insurance in Florida

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Okaloosa County Housing Statistics and Analysis

Approximately 65% of homes in Florida are owner-occupied. Similarly, Okaloosa County’s estimated 101,044 housing unit market is split largely between Homeowner-occupied at 63% and Renters at 37%.

The neighboring counties consist of homes occupied by owners as well, both having a higher rate than Florida’s average. Santa Rosa County leads with 76% of its residential real estate occupied by owners while Walton County follows with a 75% owner-occupied rate and 25% of its housing for rent. Okaloosa County is the largest provider of rental real estate in the immediate area.

Nearly 15% of housing units in Okaloosa 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 101 thousand housing units in Okaloosa 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 37 thousand housing units in Okaloosa 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 Destin: 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 Okaloosa County may require Renters insurance as a condition of the lease.

  4. Okaloosa 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 Okaloosa 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 Okaloosa 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 Okaloosa 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 coverage, 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)

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Residential Insurance in Florida

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Okaloosa County Health Statistics and Analysis

Over 15% of adult residents in Okaloosa County lack proper health insurance coverage. This is lower than the state average of approximately 19%. Among its neighboring counties, the rate of uninsured adults in Walton County matches the state average, while Santa Rosa County reports the lower rate of 14%.

Around 18% adults (or nearly 38,000 residents) in Okaloosa County report problems with health.

A person may be considered obese if they have a BMI of 30 or more. On average, Okaloosa County has an obesity rate of 27%, which coincides with the average obesity rate of the entire state of Florida. One possible contributor to this is the physical inactivity of approximately 29% of Okaloosa County’s residents. Its neighboring counties, Santa Rosa County and Walton County, surpassed Florida’s obesity rate having around 31% and 32% of its adult residents categorized as obese, respectively.

In 2022, there were 14 health insurers in Okaloosa 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 over 30 thousand adult residents of Okaloosa County lack 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 Okaloosa County residents to obtain coverage that fits their specific needs (both medically and financially): Group of 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: If health insurance is not being purchased due to unaffordability, low-income consumers are generally advised to apply for government subsidies, which can substantially lower the cost of insurance.

  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 a variety of health insurance plans available to Okaloosa 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.

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Health Insurance in Florida

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Okaloosa County End of Life Statistics and Analysis

The average life expectancy for the residents of Okaloosa County is between 77 and 78 years old, which is a couple of years shorter than the Florida average of 80 years old. Its neighboring counties also have a shorter life expectancy than the state average - Santa Rosa County at 78 years old and Walton County at 79 years old.

In 2022 there were over 35,000 seniors (65 and older) residing in Okaloosa 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. Nearly 20% of the adults in Okaloosa County smoke, and this habit will definitely increase the life insurance premiums of more than 33,300 adults by up to 4 times compared to non-smokers. Smokers are more susceptible to developing fatal diseases, 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.

Okaloosa County Final Expenses Statistics and Analysis

The average price of a funeral in Okaloosa County is more costly than the Florida state average - $6,700 versus $5,900. Among its neighbors, Santa Rosa County has an average funeral cost of about $6,000, which is not far from the state average, while Walton County has an average funeral cost of $7,200 - the highest in the area.

Statewide, Collier County tends to have the most expensive funerals, while DeSoto County and Putnam 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, over 16 thousand Okaloosa 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”)

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

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

  3. 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 (FE).

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

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Okaloosa County - Business

Commercial insurance needs vary between each of the nearly 7,000 business establishments in Okaloosa County. The three largest job-creating sectors, accounting for around 54% of all employment in the county in 2020 were:

  • Government (20.1%)

  • Manufacturing (16.9%)

  • Financial Activities (16.5%)

Commercial Insurance Analysis

  1. 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.

  2. Over 2 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.

To assess your business insurance needs in Okaloosa 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.

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Commercial Insurance in Florida

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