Bucks County

Bucks County - Driving Statistics and Analysis

The highways of Bucks County are home to approximately 541,146 personal and commercial automobiles. This figure constitutes roughly 4.9% of the total vehicles registered in the Commonwealth of Pennsylvania.

Around 8 out of 10 adult residents in Bucks County commute to and from work by themselves. Due to excessive traffic, nearly 45% of these trips exceed 30 minutes.

Motor Vehicle Crashes in Bucks County

Automobile fatalities in Bucks County happen at a rate of 8 per 100,000 vehicles on the road, resulting in around 43 fatal crashes yearly.

According to the Pennsylvania Department of Transportation, (PennDOT), in 2021 there were 5,653 crashes in Bucks County: with 55 of them fatal. Alcohol-impaired driving accounts for about 28% of fatalities in Bucks County.

Auto Insurance Analysis

1. Over half a million automobiles registered in Bucks County need insurance coverage: Property Damage and Bodily Injury Liability are state-mandated coverages for all vehicles, and operating a car without one is illegal. Depending on the type of automobiles and usage (commercial or private), the additional required insurance may be Commercial Auto, Comprehensive Coverage, Private Auto, Non-owners Car Insurance, Commercial Transportation, Gap, Ride-sharing, Inland Marine, Short-term Car Insurance, etc.

2. Although Pennsylvania is a “no-fault” state, where bodily injury is covered by its own insurance, the Commonwealth allows drivers to opt out of the “no-fault” coverage under the “choice no-fault” stipulation. Furthermore, Pennsylvania's modified comparative negligence law dictates that the amount of damage an insurer will pay is based on how much each party is to blame for in an accident.

3. The amount of cars on Bucks County highways continues to increase year after year, and while the uninsured rate of drivers in Pennsylvania stays around 7%, the mere presence of a large volume of automobiles on highly congested roads suggests the need for Uninsured Motorist coverage. You can’t tell what kind of coverage everyone around you has, until you’ve had an accident with them.

To evaluate your auto insurance requirements and to find affordable car insurance in Bucks County, contact a knowledgeable Property & Casualty (P&C) insurance agent licensed in the state of Pennsylvania.

Bucks County - Housing Statistics and Analysis

Bucks County’s approximately 254,321 dwelling units are mostly inhabited by homeowners (78%) as opposed to renters (22%). Bucks County’s owner-occupied rate is the highest among its immediate neighbors, with Philadelphia County having the lowest homeownership rate in the region and across Pennsylvania.

With Philadelphia County having the lowest homeownership rate in the state, Pike County, on the other hand, has the highest owner-occupied rate, with around 84%.

Nearly 1 in 7 housing units in Bucks County experience housing problems like inadequate plumbing, overcrowding, or kitchen concerns. In about 13% of homes, residents allocate more than half of their income to housing alone.

Housing Insurance Analysis

1. More than 250 thousand housing units in Bucks County need insurance coverage. All the owners of these properties should have at least Homeowners, Condo insurance, and/or Business property insurance (for multi-housing units) to safeguard the underlying financial investment from possible loss or damage.

2. With about 56 thousand housing units in Bucks County listed as rentals, landlords purchase Landlord Insurance to safeguard the property itself from the possible liability claims that can arise from the tenants and their guests.

3. Renters Insurance in Bucks County: Tenants obtain Renters Insurance to protect their belongings from potential loss or damage while residing in a leased dwelling. Typical renters' insurance is quite affordable and usually protects a tenant's things against theft and damage from fire, smoke, water, and vandalism. The majority of Bucks County landlords will require renter's insurance as a condition of the lease.

For consultation and to get a quote on Homeowners, Renters, Condo, Flood, and other types of insurance in Bucks County, contact a Property & Casualty (P&C) insurance agent licensed by the state of Pennsylvania.

A Pennsylvania 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.

Bucks County - Health Statistics and Analysis

In Bucks County, approximately 6% of adults under the age of 65 are uninsured, which is lower than the Commonwealth’s average, of 8%. Among the peer counties, Philadelphia County posts the highest uninsured rate in the region, while the lowest is reported in Montgomery County.

The highest uninsured adult rate in Pennsylvania is in Juniata County, with nearly 12%. In contrast, the lowest rate is observed in Butler County, at around 5% of the adult residents.

Over 14% of Bucks County residents have health issues. Additionally, more than 22% of its population fail to participate in physical exercise activities, contributing to 31% of the residents being considered obese (with a BMI of 30 or more). Among Bucks County’s immediate neighbors, the highest obesity rate is reported in Lehigh County, with over 37%, while the lowest is seen in Montgomery County, at nearly 30% — lower than the Pennsylvania state average of 33%.

In 2022, 144,061 Bucks County residents were enrolled in Medicare, with the following utilization:

In 2022, there were 13 health insurers in Bucks County, offering affordable and frequently subsidized ACA health insurance on the Pennie, Pennsylvania’s Health Insurance Exchange.

Health Insurance Analysis

1. The most important insurance coverage is health insurance, and nearly 36 thousand Bucks County individuals lack this necessity.

2. Pennsylvania is among the states that allow the sale of multiple types of health insurance and supplemental health insurance. This makes it easier for Bucks 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.

3. Low-income health insurance: If health insurance is not obtained due to high costs, low-income residents of Bucks County are generally advised to apply for government health insurance subsidies, which can significantly reduce health insurance costs.

4. Short-term health insurance may provide an alternative saving path if you do not have pre-existing conditions. (* Some Pennsylvania multi-year short-term health insurance plans may cover certain pre-existing conditions after a year or more of coverage).

Talk about your health insurance needs with a knowledgeable, state-licensed health insurance professional in Pennsylvania who has access to a variety of health insurance plans available to residents of Bucks County. The availability and cost of health insurance coverage may vary between zip codes.

A Pennsylvania 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.

Bucks County - End of Life Statistics and Analysis

In Bucks County, the average lifespan of residents is around 79.5 years, which is slightly higher than the Pennsylvania state average of 78 years. Among Bucks County’s neighbors, Montgomery County has the longest average life expectancy, while the shortest is in Philadelphia County.

In the entire Commonwealth of Pennsylvania, the longest average life expectancy is observed in Centre County, at over 82 years old, while the shortest average is seen in Fayette County, at under 75 years old.

In 2022, approximately 124,697 seniors (65 and older) were residing in Bucks 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, among other things, on how old the person is when the policy starts. Therefore, if you purchase it while you are still young, you’ll save more in premiums over the course of the policy.

3. Almost 17% of the adults in Bucks County smoke, and this practice will likely affect the life insurance costs of more than 85,000 adults, who may have to pay 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.

4. Aside from 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 even used as a source of tax-free retirement income.

Bucks County - Funeral Expenses Statistics and Analysis

The average funeral cost in Bucks County is around $11,600, which is higher than the Pennsylvania state average of $6,700 and by far the highest among its nearby counties and the highest in the Commonwealth. Looking at its neighbors, Philadelphia County has the most affordable average funeral at $6,100, followed by Lehigh County at $6,300.

On the opposite end of the spectrum from Bucks County funeral costs is Clinton County, with its typically lowest funeral expenses in the Commonwealth (around $4,700).

Life Insurance Analysis

1. Nearly 46% of Americans die with less than $10,000 in savings, which means over 57,000 senior residents of Bucks County could be placing their family and friends in a difficult financial situation. Instead of grieving their loss, they need to find ways to settle funeral costs.

2. The deceased may also leave taxes and other debts for the family to take care of, aside from the burial cost. Discuss your senior life insurance options with a licensed Pennsylvania life insurance professional.

3. Indexed Universal Life (IUL) is the most preferred life insurance policy to use for its living benefits and retirement financing.

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, Final Expense (FE), and multiple Universal Life insurance policies.

5. Term Life Insurance and Final Expense (also known as Burial insurance) are the most frequently used life insurance policies to cover “final expenses” up to $50,000.

To learn more about life insurance options and to get life insurance quotes in Bucks County, consult with a knowledgeable Commonwealth-licensed, experienced, and qualified life insurance professional who has access to several insurers and plan types for comparison.

Bucks County - Business

Commercial insurance differs between each of the nearly 20 thousand business establishments in Bucks County. The three largest job-creating sectors, accounting for nearly 44% of all employment in the county in 2022 were:

• Health Care & Social Assistance - 20%

• Retail Trade - 13.2%

• Manufacturing - 10.4%

Commercial Insurance Analysis

1. Every business in Bucks County needs insurance based on what it does and the number of people it employs. The coverage mostly falls into:

   • Commercial Property,

   • Business Liability, and

   • Employee Protection and Benefits.

2. Health care professionals can benefit from Medical malpractice coverage, which protects both the patients and the insured medical professionals.

3. Retail businesses in Bucks County are primarily insured against customer liabilities that come from using the retail location or by interacting with the products, and to protect the property, inventory, and the staff.

4. Manufacturing businesses need insurance to protect the production facilities and the workers and get product liability coverage to protect the company itself in case their product hurts someone or something.

To assess your business insurance needs in Bucks County and to get a commercial insurance quote, speak with a knowledgeable Pennsylvania-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.