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Wood County

Driving in Wood County

Wood County has approximately 36,948 vehicles registered for both commercial and private use. This figure accounts for an estimate of 0.16% of all registered vehicles in Texas.

Daily, almost 81% of Wood County drivers commute to work alone, and more than half of those commutes last more than 30 minutes.

More than 20% of Texas vehicles are uninsured, implying that more than 7,000 Wood County vehicles could be either uninsured or underinsured.

Liability auto insurance is required in Texas as "proof of financial responsibility," and driving without it is illegal.

Auto Insurance Analysis:

  1. Wood County has nearly 40,000 registered vehicles that require auto insurance. Private automobile insurance, commercial or farm automobile insurance,commercial inland marine insurance, and other forms of insurance may be required. Auto insurance may also be affected by the type of vehicle and its intended use.

  2. Longer daily commutes may result in higher auto insurance rates because of the extended time a driver spends behind the wheel. The longer a driver is behind the wheel, the more likely they are to be involved in a car accident.

  3. In Texas, where one out of every five drivers is uninsured or underinsured, uninsured driver coverage is becoming increasingly important. The cost of uninsured and underinsured motorist coverage in Texas exceeds $900 million per year.

Contact a Property & Casualty insurance agent who is licensed in Texas if you need advice and assistance with Wood County auto insurance.

Wood County Housing

The housing market in Wood County, which has approximately 21,759 units, is split 4-1 between homeowners and renters. The state average in Texas is closer to a 62/38 split. The surrounding counties’ housing markets are mostly owner-occupied homes as well, with Wood County leading the way, followed by Franklin County with approximately 79% of homes occupied by the owners, while Smith County closing in last place with more than 66%.

Nearly 1 in 7 housing units in Wood County suffers from overcrowding, a lack of plumbing, and/or poor kitchen conditions.

Housing Insurance Analysis:

  1. Wood County has almost 22,000 housing units that could use home insurance. All housing units should be covered by homeowner's insurance to protect the owner's property from loss or damage (Homeowners or Condo). Apartment complexes are covered by Business Property insurance, while condo association buildings themselves are covered by Business condo association insurance.

  2. Landlord Insurance should be obtained by property owners in Wood County, which has over 4,000 rental units. Landlord insurance protects both the property and its owner from potential liabilities.

  3. Tenants typically purchase renters insurance to protect their belongings from potential damage or loss. The standard Renter's Insurance policy covers theft as well as damage caused by water, fire, smoke, and vandalism. Landlords may require renter's insurance as a condition of the lease.

Contact a knowledgeable Property & Casualty insurance agent who is licensed in Texas for consultation and advice on Homeowners insurance or Renters insurance in Wood County.

Wood County Health

Wood County's health insurance rating is one of the worst-rated among its neighboring counties. Uninsured adults and children account for approximately 22% of its population. This figure is higher than the state average of 20.7% (in 2021). Among the neighboring Counties, Hopkins and Van Zandt Counties rank first in terms of residents without health insurance, with an uninsured rate of around 24%, while Franklin County has the lowest percentage of uninsured residents, estimated to be around 17%. Gaines County has the highest uninsured adult rate in Texas, approaching 36% while Loving County has the lowest, around 11%.

More than 1 out of every 5 adults in Wood County have a health problem. Nearly 1/3 of the population is physically inactive, contributing to a 33% obesity rate, which is higher than the Texas average of 31%. Van Zandt County has the highest obesity rate of any peer county, at 35%. Camp County, on the other hand, is said to have the lowest obesity rate in the area, at 21%.

In Wood County, at least 2 insurers offer affordable and regularly subsidized ACA health insurance, both in and out of the state marketplace.

Health Insurance Analysis:

  1. Nearly 8,000 Wood County residents, adults including children, do not have health insurance, which is the most important type of insurance.

  2. Texas is one of the states that offers a wider range of health insurance and supplemental product options, making Texas healthcare more accessible: ACA-compliant Group and Individual marketplace health insurance, various types of short-term insurance (up to three years in coverage), hospital indemnity, accident and health, and so on.

  3. Health insurance can be prohibitively expensive particularly for low-income individuals. So they should apply for government subsidies to significantly reduce the cost of insurance. If you do not have any pre-existing conditions, short-term insurance may be an option. (Note: After a full year of coverage, some multi-year short-term plans may cover specific pre-existing conditions.)

Contact a health insurance agent licensed in the state of Texas for consultation and advice on Wood County health insurance.

Wood County Mortality and the End of Life Statistics

The average life expectancy in Wood County is estimated to be 76.6 years old, which is lower than the Texas state average of 79.2 years old. Smith and Franklin Counties appear to have the highest life expectancy among neighboring counties, both at 78.1 years old, a year and half longer than Wood County, while Upshur County seems to have the lowest, at 75.3 years old.

Presidio County has the highest average life expectancy rate in the state, at 88.8 years, and with a life expectancy of 72.8 years, Donley County has the lowest average.

In 2022, Wood County had nearly 13,000 senior residents (65 years old and older).

Life Insurance Facts:

  1. In 2021, 48% of Americans did not have any type of active life insurance policy.

  2. Premiums for life insurance are calculated based on the insured's age at the start of the policy, so the younger you are when you buy it, the less you will have to pay in premiums over the policy period.

Motor Vehicle Fatalities in Wood County

Motor vehicle fatalities in Wood County statistically occur at a rate of 29.9 per 100,000 vehicles on the road: approximately 11 fatal crashes per year.

Wood County had 526 crashes in 2020, resulting in 12 fatalities. This is According to the Texas Department of Transportation (TxDoT). Alcohol was responsible for almost 1 in 4 of all traffic fatalities.

Final Expenses - Wood County Funeral Home Cost

Funeral costs in and around Wood County vary slightly, and the average funeral cost in Wood County is reported to be nearly $6,000, making it the third-lowest funeral cost in the surrounding area. Among Wood County's neighbors, Smith County has the highest average funeral cost of more than $7,600, higher than the state average of $6,200. On the other hand, Van Zandt has the lowest funeral home cost at under $5,300.

Life Insurance Analysis:

  1. Nearly 46% of Americans die with less than $10,000 in life savings, which means that nearly 6 thousand Wood County senior citizens may be putting an additional burden on their family and friends with basic funeral expenses. Instead of grieving the loss of a loved one, the family must figure out how to pay.

  2. In addition to burial costs, the deceased may have left behind taxes and debts for the surviving family to deal with.

  3. The most common life insurance policies that cover "final expenses" up to $50,000 are term life insurance and final expense insurance.

  4. The most common life insurance policies that allow money to be left to family members are Term Life Insurance and Cash Value Life, such as Whole Life Insurance, Indexed Universal Life (IUL) Insurance, and Final Expenses.

Contact a knowledgeable Texas-licensed life insurance agent if you need life insurance consultation and advice in Wood County.