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Broome County

Broome County - Driving Statistics and Analysis

An estimated 114,107 personal and commercial vehicles are registered in Broome County. This number amounts to roughly 1% of all the vehicles registered in the state of New York.

Around 81% of adult drivers in Broome County travel to their place of employment by themselves. At the same time, Broome County ranks the lowest across New York state in terms of residents taking long daily commutes (30 minutes or higher), at a rate of roughly 14.8%.

Motor Vehicle Crashes in Broome County

Between 2018 and 2021, the New York State Department of Motor Vehicles (DMV-NY) and the Institute for Traffic Safety Management and Research (ITSMR) reported 19,889 crashes in Broome County: with 5 of them fatal. Property damage occured in 83.1% of those crashes, while personal injury was sustained in 16.63% cases.

Motorcycles in Broome County accounted for an average of 61 crashes annually: with personal injury as a result in 74.60% of cases and property damage in 20.25%.

Auto Insurance Analysis

  1. Over 114 thousand vehicles registered in Broome County need insurance coverage. No-Fault Personal Injury Protection (PIP) coverage and Property Damage and Bodily Injury Liability are state-mandated coverages for all vehicles to safeguard others from damages incurred during vehicular accidents. There are additional insurances available depending on the type of vehicle and how it is used (commercial or private). Some of these are Private Auto, Commercial Auto, Comprehensive Coverage, Non-owners car insurance, Commercial Transportation, Inland Marine, Gap, Ride-sharing, Short-term car insurance, and so on.

  2. New York is considered a no-fault state, which means the insurance will cover any bodily injuries you receive in an accident, regardless of who’s at fault. If the treatment costs exceed your coverage limits, you can recover the difference from the responsible party. Meanwhile, the at-fault party is responsible for property damage.

  3. The number of automobiles in Broome County increases each year, and even though the uninsured rate of drivers across the state of New York remains under five percent, Uninsured Motorist coverage is needed when there are a large number of automobiles on the road. You never know how much insurance the vehicle next to you has.

If you have inquiries regarding your auto insurance and to find affordable car insurance in Broome County, contact a knowledgeable Property & Casualty (P&C) insurance agent licensed in the state of New York.

Broome County - Housing Statistics and Analysis

Broome County 65% 35%
Chenango County 74% 26%
Delaware County 74% 26%
Tioga County 77% 23%
Cortland County 66% 34%

Unlike most of New York state, where the residential marketplace is almost evenly divided between homeowners and renters (54% to 46%), Broome County’s approximately 92,173 housing units are mainly dominated by owners occupying their homes. Broome County’s owner-occupied rate is the lowest among its immediate neighbors, with Tioga County having the highest rate in the region, followed by Chenango County and Delaware County.

Across New York, Hamilton County has the highest owner-occupied rate, with 87%, while The Bronx is the state leader with the highest percentage of its real estate for rent (≈80%).

About 16% of housing units in Broome County experience housing problems like plumbing issues, overcrowding, or problems with the kitchen. In around 15% of homes, residents spend more than 50% of their income on housing expenses.

Housing Insurance Analysis

  1. In Broome County, over 92 thousand housing units need insurance coverage. All owners of these properties should have at least Homeowners, Condo Insurance, and/or Business property insurance (for apartment complexes), to protect the financial investment from possible damage or loss.

  2. With more than 32 thousand housing units in Broome County listed for rent, Landlords purchase Landlord Insurance to protect the property from possible liability claims that can come from the tenants and their guests.

  3. Renters Insurance Binghamton: Tenants obtain Renters Insurance coverage to protect their belongings from possible damages or theft. The average renters' insurance is inexpensive and can protect the property from damages caused by fire, smoke, sewage backup damage, water, and vandalism. Broome County landlords may require renters' insurance before signing the lease.

For consultation regarding Homeowners, Renters, Condo, Flood, and other types of insurance in Broome County, contact a Property & Casualty (P&C) insurance agent licensed in the state of New York.

A New York P&C insurance agent:

  • Examines your needs and limitations

  • 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

  • Lays out available options of coverage

  • Describes the effect of the different options once the insurance policy becomes active

  • Helps you with the process of application

  • Does not influence your cost of insurance. (agent’s service is usually paid by the insurer)

Broome County - Health Statistics and Analysis

Broome County 6%
Chenango County 6%
Delaware County 7%
Tioga County 5%
Cortland County 5%

Roughly 6% of adults (65 and under) in Broome County lack proper health insurance coverage, which is 2 percentage points lower than the New York state average of 8%, but not the lowest among its immediate neighbors. Tioga County and Cortland County are tied for the lowest uninsured adult rate in the region, while Delaware County reports the highest.

In the entire state of New York, the highest uninsured adult rate is observed in Queens County, with 12%. In contrast, the lowest rate is seen in Saratoga County, at under 5% of the adult residents.

17% of the population in Broome County report problems with health. Furthermore, 23% of its residents do not engage in physical exercise activities, contributing to the fact that 30% of its population are considered obese (with a BMI of 30 or more). Broome County’s obesity rate is the lowest among its nearby counties, with Chenango County leading with over 39%, followed by Cortland County, with over 34%. The average obesity rate in the entire state of New York is around 26%.

In 2022, 44,387 Broome County residents were enrolled in Medicare, with the following utilization:

Original Medicare 46%
Medicare Advantage 54%
Original Medicare Part A and Part B 39%
Medicare Advantage and Other Health Plan Part A and Part B Beneficiaries 54%
Medicare Part D 37%
Medicare Advantage Prescription Drug Plan 50%

In 2022, there were 12 health insurers in Broome County, offering affordable and frequently subsidized ACA health insurance on the New York State of Health marketplace.

Health Insurance Analysis

  1. Nearly 7 thousand residents in Broome County do not have the most important type of insurance, which is Health insurance.

  2. Even though New York is among the states that do not allow the sale of multiple types of alternative health insurance options, Broome County residents can shop for the choice of their plans on a state-run health care exchange. While Group or Individual Marketplace ACA health insurance is the staple of coverage for Binghamton residents, supplementary options can also be purchased. For example, Hospital Indemnity Insurance and Accident & Health insurance can help cover the out of pocket expenses such as deductibles, copay, and coinsurance, in case of emergency. Disability income insurance can help cover the lost income in case if a disability takes the insured out of the workforce.

  3. Low-income health insurance: If health insurance is not being purchased due to a tight budget, residents of Broome County with low income are generally advised to apply for government health insurance subsidies, which can drastically lower the health insurance cost.

Discuss your health insurance needs with a knowledgeable state-licensed New York health insurance professional with access to a variety of health insurance plans available to Broome County residents. Offerings of health insurance coverage and its pricing may differ between zip codes.

A New York 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.

Broome County - End of Life Statistics and Analysis

NEIGHBORING COUNTIES Average Life Expectancy
Broome County 78.6
Chenango County 77.4
Delaware County 79.2
Tioga County 80.6
Cortland County 78.4

In Broome County, the average lifespan of residents is around 78.6 years, which is shorter than the New York state average of 81.4 years. Comparing Broome County to its neighbors, Tioga County has the longest average life expectancy, while the shortest is reported in Chenango County.

In the entire state of New York, the highest average life expectancy is in New York County, at 85.2 years. Meanwhile, the lowest life span is seen in Chemung County, at under 77 years old.

In 2022, approximately 36,525 seniors (65 and older) were residing in Broome County.

Life Insurance Facts

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

  2. The age of the insured is one factor used in determining life insurance premium rates. This means that the younger you are when you get it, the more you save in premiums throughout the policy.

  3. Approximately 22% of adults in Broome County are smokers. This habit will raise the life insurance premiums of more than 33,000 individuals by up to 4 times compared to non-smokers. The life expectancy of a smoker is deemed shorter, making them more of a risk than non-smokers.

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

Broome County - Funeral Expenses Statistics and Analysis

The average funeral cost in Broome County ranges between $5,900 to $6,100, which is more affordable than the New York state average of $6,500. Among Broome County’s neighbors, Chenango County reports a higher funeral cost at around $6,800, while Cortland County is more cost-effective, at $5,700. In the entire state of New York, Suffolk County has the most expensive funerals, averaging $10,500, while Erie County has the most affordable, at under $5,000.

Life Insurance Analysis

  1. Roughly 46% of Americans pass away with no more than $10,000 in savings. As a result, nearly 17 thousand senior residents of Broome County could be placing an unpleasant and unnecessary financial burden on their families and friends. Instead of mourning, they'll have to concentrate on figuring out how to pay for the funeral.

(Note: If using life insurance as payment for the funeral services, most funeral homes require the policy to be “assignable”)

  1. Aside from the burial costs, unpaid taxes and other debts are sometimes left by the deceased, which the family needs to take care of. Discuss your senior life insurance options in Broome County with a licensed New York life insurance professional.

  2. The most frequently used life insurance policies to cover “final expenses” up to $50,000 are: Term Life Insurance and Final Expense (also known as Burial 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, Final Expense (FE), and multiple Universal Life insurance policies.

  4. The most commonly used life insurance for tax-free retirement funding is Indexed Universal Life (IUL) insurance.

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

Broome County - Business

Commercial insurance needs differ between each of the over 4 thousand business establishments in Broome County. The largest job-creating sectors are:

  • Health Care & Social Assistance

  • Educational Services

  • Retail Trade.

Commercial Insurance Analysis

  1. Each of the businesses in Broome 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:

    • Health insurance,

    • Life insurance,

    • Disability insurance,

    • Workers’ Compensation insurance, and

    • Unemployment insurance.

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

  3. At a minimum, Broome County retail establishments typically get Property insurance, Business liability, Business income, and Workers’ compensation insurance.

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