Polk County
Driving in Polk County
It is estimated that 638,684 private and commercial vehicles are registered in Polk County, and this number accounts for approximately 3.53% of all the vehicles in Florida.
Roughly 4 out of 5 adult drivers in Polk County are operating a separate vehicle during their commute to and from work, and half of these trips need 30 minutes or more to complete.
Since it is estimated that 20% of Florida drivers are uninsured, it is safe to presume that 127,000 vehicles in Polk County alone could be uninsured or underinsured.
According to 2021 statistics, every 4th vehicle crash in Polk County was a hit and run.
Motor Vehicle Crashes in Polk County
Deaths caused by vehicular collisions in Polk County statistically occur at a rate of 18.45 per 100,000 vehicles on the road: more or less 117 fatal crashes per year.
In 2021, the Florida Department of Highway Safety and Motor Vehicles (FLHSMV) reported over 13,386 crashes in Polk County: 154 fatal crashes that led to 164 deaths (including 21 motorcyclists). Alcohol is determined as the main factor for the fatal crashes in Polk County in about a quarter of all driving fatalities.
Auto Insurance Analysis
Over 600 thousand vehicles registered in Polk 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. Aside from the mandatory minimum, other types of coverage could also be purchased depending on the vehicle owners and its use. These are: Commercial Auto, Comprehensive Coverage, Ride-Sharing, Inland Marine, and so on.
More than 367 thousand commuters driving their own vehicle almost daily is one of the primary reasons why auto insurance premiums in Polk County are more expensive compared to less densely-populated counties. The higher the number of vehicles on the road, the higher the chances of a traffic collision taking place.
The long daily commute of roughly 176 thousand Polk County residents raises the cost of auto insurance because Polk County drivers are on the road for a longer period. This increases the probability of a vehicular accident taking place.
With 1 out of 4 crashes as a hit-and-run and with 20% of drivers uninsured, Uninsured Driver Coverage remains vital for Polk County residents.
To discuss your auto insurance needs in Polk County, contact a knowledgeable Property & Casualty (P&C) insurance agent licensed in the state of Florida.
Polk County Housing
Most of the homes in Florida (≈65%) are inhabited by the families or individuals that own them, and Polk County follows suit with an owner-occupied rate of 69%, while 31% of the estimated total 325,415 housing properties are allotted for renters.
In Polk County’s area, Sumter County has the highest owner-occupied rate (90%). At the other end of the spectrum is Orange County with 55% of homes inhabited by the owners — which means that almost every other residential property is a rental.
About 17% of the residential real estate in Polk 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
More than 325 thousand housing units in Polk 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 100 thousand housing units in Polk 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 Lakeland: 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 Polk County may require Renters Insurance before putting pen to paper on a lease.
For consultation and advice about Homeowners, Renters, Condo, Flood, and other types of insurance in Polk 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)
Polk County Health
Approximately 19% of the adults in Polk County do not have proper health coverage, and the same can be said for the majority of Florida counties. Looking at the neighbors, Okeechobee County has the highest percentage of uninsured, at 27%, while Sumter County has the lowest uninsured adult rate at 13%.
Across Florida, Hendry County at 35% has the highest uninsured rate for residents under the age of 65, while the lowest rate is observed in St. Johns County at under 13%.
Roughly 1 out of 5 (or 171,000) adults in Polk County are in poor health. This is partially due to the fact that among the adult population, 21% smoke, 18% consume too much alcohol, and nearly 29% of the total population does not exercise regularly despite the fact that about 79% have access to areas where physical exercise can be done.
About 37% of Polk County residents are obese (with a BMI of 30 or more), a figure that is considerably higher than the Florida average of 27%. Looking at the neighboring counties, Hillsborough County and Manatee County have the lowest obesity rates, both at 26%. Hardee County, on the other hand, has the highest figure at 40% — this suggests that 2 out of 5 Hardee County residents are obese.
In 2022, there were 14 health insurers in Polk County offering affordable and frequently subsidized ACA health insurance on the Florida marketplace.
Health Insurance Analysis
Health insurance is the most vital type of insurance coverage, and over 112 thousand residents (below 65 years old) of Polk County lack this necessity.
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.
A health insurance policy could be viewed as a luxury to some, especially low-income individuals. However, applying to and being granted government subsidies could exponentially reduce the total cost of health insurance.
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 Polk 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.
Polk County Mortality and the End of Life Statistics
Polk County residents have an average lifespan of 78.6 years old, which is less than the Florida average of 80.1 years. The longest life expectancy in the region belongs to Manatee County at 81.7 years old. The second-highest is observed in Orange County with 80.6, closely followed by Sumter County at 80.4 years old, while the shortest is in Okeechobee County, at 76.3
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 under 69 years.
In 2022 there were approximately 156,000 seniors (65 and older) residing in Polk County.
Life Insurance Facts
In 2022, 47% of Americans did not have an active life insurance policy of any type.
A life insurance applicant’s age weighs heavily on their premiums. The greater the age, the greater the cost of life insurance. This is why it is generally advised to secure a life insurance policy as early as possible to save money on premiums.
Close to 21% of the adults (18 above) in Polk County smoke, and this habit will definitely increase the life insurance premiums of more than 125,000 adults by up to 4 times compared to non-smokers. A person who smokes is more likely to develop fatal diseases that makes them a risk to a life insurance carrier.
Final Expenses – Polk County Funeral Home Cost
A traditional funeral in Polk County costs around $6,200, which is not far off from the Florida average of $5,900. In its immediate area, Polk County has one of the most expensive funeral cost averages, and Osceola County tops the group with an average of $7,300, followed by Hillsborough County at $6,600. The most affordable funeral costs can be found in Pasco County with an average of $5,200.
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
With 46% of Americans dying with savings of less than $10,000, the family members and friends of nearly 72 thousand Polk County senior residents may have to set aside their mourning as they have to prioritize paying for the funeral of their loved ones. (Note: If using life insurance as payment for the funeral services, most funeral homes require the policy to be “assignable”)
On top of the burial costs, the departed often pass away with unsettled debts and taxes for the family to take care of.
The most frequently used life insurance policies to cover “final expenses” up to $50,000 are: Term Life Insurance and Final Expense 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, Indexed Universal Life (IUL) insurance, and Final Expense (FE).
To find out more about life insurance options in Polk County, speak with a knowledgeable state-licensed and experienced life insurance professional who has access to multiple insurers and plan types for comparison.
Polk County - Business
Commercial insurance needs vary between each of the over 15 thousand businesses in Polk County. The three largest job creating sectors, accounting for over 54% of all employment in 2020 were:
Manufacturing (27.3%)
Professional and Business Services (14.6%)
Financial activities (12.8%)
Commercial Insurance Analysis
Manufacturing businesses need insurance to protect the production facilities and the workers, as well as get product liability coverage to protect the company itself if their product hurts someone or something.
Professional services and consulting businesses generally need professional liability insurance, also known as Errors and Omissions insurance (E&O insurance)
To assess your business insurance needs in Polk County, speak with a knowledgeable Florida-licensed commercial insurance agent with access to multiple insurers.
