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Palm Beach County

Driving in Palm Beach County

There are over 18 million vehicles registered in the state of Florida and 1,246,004 of them can often be found traversing the busy roads of Palm Beach County. This figure represents 6.89% of all the registered automobiles in the entire state of Florida.

Carpooling to and from work is not very popular in Palm Beach County as nearly 78% of the adult drivers commute daily on their own, and more than a quarter of this demographic are behind the wheel for over 30 minutes for each trip.

With about 20% of Florida drivers uninsured, roughly 249,000 vehicles in Palm Beach County alone could be uninsured or underinsured.

Approximately 1 out of 4 vehicle crashes in Palm Beach County is a hit and run.

Motor Vehicle Crashes in Palm Beach County

Motor vehicle fatalities in Palm Beach County statistically occur at a rate of 12.09 per 100,000 vehicles on the road: more or less150 fatal crashes per year.

In 2021, the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) reported over 24,850 crashes in Palm Beach County: 188 fatal crashes, with a resultant 207 deaths (including 25 motorcyclists). Alcohol is determined as the main factor for the fatal crashes in Palm Beach County in an estimated 16% of all driving fatalities.

Auto Insurance Analysis

  1. Over 1.2 million vehicles registered in Palm Beach 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: Commercial Transportation, Comprehensive Coverage, Gap, Inland Marine, and so on.

  2. More than 670 thousand drivers operating a separate vehicle almost daily is one of the key reasons why auto insurance premiums in Palm Beach County are more expensive compared to less densely-populated counties. More traffic means more chances of vehicular accidents taking place.

  3. The long daily commute of roughly 323 thousand Palm Beach County residents raises the cost of auto insurance because it increases the amount of time a driver spends on the road. Being on the road longer increases the likelihood of being involved in a traffic accident.

  4. With a fourth of crashes as a hit-and-run and with 20% of drivers uninsured, Uninsured Driver Coverage is gradually becoming more important for Palm Beach County residents.

To discuss your auto insurance needs in Palm Beach County, contact a knowledgeable Property & Casualty (P&C) insurance agent licensed in the state of Florida.

Palm Beach County Housing

Approximately 69% of the estimated 704,498 residential properties in Palm Beach County are inhabited by the families or individuals that own them — not too far from the Florida average of ≈65%. About 31% are occupied by or available for tenants to move into.

Among the neighbors, Glades County has the highest owner-occupied rate at 80%, followed by Martin County at 78%. Broward County has the lowest figure at 62%, with almost 4 out of 10 homes listed for rent.

About 22% of the residential real estate in Palm Beach County experience 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 700 thousand housing units in Palm Beach 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 200 thousand housing units in Palm Beach 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.

  3. Renters insurance West Palm Beach: Tenants buy 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 Palm Beach County may require Renters Insurance before putting pen to paper on a lease.

  4. Palm Beach 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 Palm Beach 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 Palm Beach County need to maintain appropriate insurance coverage to protect their property against possible loss and damage from wind and water damage.

For consultation and advice about Homeowners, Renters, Condo, Flood, and other types of insurance in Palm Beach 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,

  • 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)

Palm Beach County Health

In Palm Beach County, approximately 21% of adults (18-65 years old) do not have proper health insurance coverage — this figure is higher than the Florida average of 19%. In the region, Hendry County has the highest uninsured adult rate at 45% (adults below 65 and children, combined), followed by Glades County at 44%. Hendry County has the highest rate in Florida, while the lowest rate is observed in St. Johns County at under 19% of residents under 65.

More than 19% of adults (or over 290,000 residents) in Palm Beach County report problems with health. This is probably due to the fact that among the adult population, 17% smoke, 22% consume alcohol excessively, and nearly 27% of the total population does not exercise regularly despite the fact that virtually all of them (≈94%) have access to areas where physical exercise can be done.

About 22% (1 in 5) of the adult population in Palm Beach County are viewed as obese (BMI of 30 or more), lower than the Florida average of 27%. Among the bordering counties, Glades County has the highest figure at 39%, while Martin County has the lowest obesity rate at 20%.

As of 2022, there were 14 health insurers in Palm Beach County offering affordable and frequently subsidized ACA health insurance on the Florida marketplace.

Health Insurance Analysis

  1. Health insurance is the most vital type of insurance coverage, and over 255 thousand residents of Palm Beach County lack this necessity.

  2. Floridians are permitted to purchase multiple types of health insurance and supplemental products. This makes it easier for them 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, Accident & Health, etc.

  3. Understandably, not everyone is able to afford health insurance due to the costs involved. These individuals are advised to apply for government subsidies to lower the total cost of health insurance coverage.

  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 options available to Palm Beach County residents.

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.

Palm Beach County Mortality and the End of Life Statistics

A Palm Beach County resident has an average life expectancy of 82.6 years old, which is a couple of years longer than the state average of 80.2 years. In its area, Palm Beach County has the second-highest life span, next to Glades County which has the highest at 84.1 years old. Okeechobee County has the shortest average at 76.3 years.

In the whole state of Florida, Collier County has the longest life expectancy average at 86 years old, while Union County has the shortest at 69 years.

In 2022 there were approximately 370,000 seniors (65 and older) residing in Palm Beach County.

Life Insurance Facts

  1. In 2022, 47% of Americans did not have an active life insurance policy of any type.

  2. Age is among the most significant factors that affect life insurance premium rates. The older the policyholder is, the more expensive the premiums. This is why taking out a policy as early as possible is the best course of action to save money in the long run.

  3. Close to 16% of the adults (18 above) in Palm Beach County smoke, and this habit will definitely increase the life insurance premiums of more than 197,000 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.

Final Expenses – Palm Beach County Funeral Home Cost

A traditional funeral in Palm Beach County could cost the family and friends of the deceased around $6,300 — which is more expensive than the Florida average of $5,900. Among the neighbors, Martin County’s $5,900 average funeral cost is the one that is at par with that figure.

Statewide, Collier County has the most expensive funeral cost average in Florida, while Putnam County and DeSoto County have the lowest, both at $4,600.

Life Insurance Analysis

  1. With 46% of Americans dying with savings of less than $10,000, the families and friends of nearly 170 thousand Palm Beach County senior residents may have to set aside their mourning as they have to focus their energies on making sure their loved one’s funeral will be paid for. (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 burial costs, the departed often pass away with unsettled debts and taxes for the family to take care of.

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

  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, Indexed Universal Life (IUL) insurance, and Final Expense (FE).

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

Palm Beach County - Business

Commercial insurance needs vary between each of the over 62 thousand business establishments in Palm Beach County. The three largest job creating sectors, accounting for over 53% of all employment in the county in 2020 were:

  • Manufacturing (18.4%)

  • Financial activities (18%)

  • Professional and Business Services (17.1%)

Commercial Insurance Analysis

  1. Manufacturing businesses usually require insurance coverage for:

    • Production facilities, tools, equipment, and other property

    • Employees’ health, wellbeing, and safety

    • Product liability coverage to protect the company itself if their product hurts the consumer

  2. Over 24 thousand professional services and consulting businesses in Palm Beach County can benefit from the professional liability insurance, also known as Errors and Omissions insurance. E&O insurance protects the advisor in case their professional advice leads their clients to suffer damages.

To assess your business insurance needs in Palm Beach County, speak with a knowledgeable Florida-licensed commercial insurance agent with access to multiple insurers.