Kings County

Kings County - Driving Statistics and Analysis

An estimated 1,528,656 private and commercial vehicles call the roads of Kings County (Brooklyn Borough) their home. This number accounts for approximately 13% of all vehicles registered in the state of New York.

While the majority of Brooklyn residents choose public transportation, over 18% of adult drivers in Kings County commute to work by themselves. Due to heavy traffic, more than half of those commutes last for over 30 minutes - a statistic closely mirrored by all neighboring NYC boroughs.

Motor Vehicle Crashes in Kings County

According to the New York State Department of Motor Vehicles (DMV-NY) and the Institute for Traffic Safety Management and Research (ITSMR), between 2018 and 2021, there were over 133,664 crashes in Kings County: with 263 of them fatal. Property damage occured in 54.70% of those crashes, while personal injury was sustained in 45.09% cases.

Motorcycles in Kings County accounted for an average of 529 crashes annually: with personal injury as a result in 74.93% of cases and property damage in 23.07%.

Auto Insurance Analysis

1. Over 1.5 million vehicles registered in Kings County need insurance coverage: No-Fault Personal Injury Protection (PIP) coverage, and Property Damage and Bodily Injury Liability are required for all vehicles on the road. Depending on the type of vehicle and its use (commercial or private), the additional required insurance may be: 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. Since New York is a no-fault state, the bodily injuries you sustain in an accident are paid by your own insurance - regardless of fault. If the bills for the treatment exceed your coverage limits, you can get the overage from the guilty party. Meanwhile, property damage is paid by the at-fault party.

3. The amount of vehicles on the roads of Kings County keeps going up year after year, and even though the uninsured rate of drivers across the New York metropolitan area remains at under 5 percent, the sheer proximity of a large volume of vehicles on heavily congested roads indicates the need for Uninsured Motorist coverage. You simply never know how much coverage the car next to you will have.

To discuss your auto insurance needs and to find affordable car insurance in Kings County, contact a knowledgeable Property & Casualty (P&C) insurance agent licensed in the state of New York.

Kings County - Housing Statistics and Analysis

Unlike the majority of New York state, where the residential marketplace is split almost evenly between homeowners and renters (54% to 46%), nearly 70% of Kings County’s estimated 1,098,363 dwellings in 2022 were rentals. Compared with the neighbors, Richmond County has the most homeowners, while Bronx County has the least (around 20%).

Statewide, Hamilton County has the highest homeownership rate, with just 13% of homes for rent, while the Bronx is the state leader with the highest percentage of its real estate for rent.

Over 30% of housing units in Kings County experience housing problems, overcrowding, poor plumbing, or issues with the kitchen. In 1 out of 4 homes, residents spend more than 50% of their income on housing.

Housing Insurance Analysis

1. Nearly 1.1 million housing units in Kings 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 750,000 housing units in Kings 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. If you rent your home, your insurer must know about it or your claims can be denied.

3. Renters insurance Brooklyn: Tenants buy Renters Insurance coverage to protect their belongings from possible damage or loss while residing in a rented space. Average renters’ insurance is inexpensive and usually covers the tenant's property from theft and damages caused by fire, smoke, water, and vandalism. Most landlords in Kings County will require Renters insurance as a condition of the lease.

4. Kings County is located on the coast, not far from one of the main hurricane formation areas in the Atlantic Ocean. According to the National Oceanic and Atmospheric Administration (NOAA), the recent increase in temperatures creates favorable conditions for the formation of strong storms. Up to 10 of the annually projected 20 storms in the Atlantic have a chance of turning into hurricanes, bringing in primarily wind and flood damage. The highest probability of a hurricane occurrence in Kings County is between early June and the end of November. Every New York area resident should be aware of the procedures and safeguards set in place by the local city, county, and State agencies. All homeowners, landlords, and renters in Kings County need to maintain appropriate insurance coverage to protect their property against possible loss and damage from wind and water damage.

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

A New York 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.

Kings County - Health Statistics and Analysis

In Kings County, around 10% of adult residents under the age of 65 lack proper health insurance coverage, which is higher than the state average (≈8%), but not the highest among the peer counties. The lowest uninsured rate among the neighbors is in Staten Island (Richmond County), while the highest is in Queens County.

The highest uninsured adult rate in the state of New York is in Queens County, while the lowest rate is observed in Saratoga County, at under 5% of the adult residents.

Around 19% of adults in Kings County report problems with health. 24% of the Kings County population do not participate in physical exercise activities. Over 23% of the Kings County adult residents are considered obese (with a BMI of 30 or more), which is lower than the New York state average of over 26%. Among the neighboring counties, all counties are also below the state average, with the exception of Richmond County, where over 29% of adults may be considered obese. Chenango County has the highest obesity rate in the state (>39%).

In 2022, 380,452 Kings County residents were enrolled in Medicare, with the following utilization:

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

Health Insurance Analysis

1. Health insurance is the most important insurance coverage, and nearly 160 thousand adult Kings County residents lack this necessity.

2. Even though New York is among the states that do not allow the sale of multiple types of alternative health insurance options, Kings 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 are the staples of coverage for county 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 unaffordability, low-income residents of Kings County are generally advised to apply for government health insurance subsidies, which can substantially 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 Kings 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.

Kings County - End of Life Statistics and Analysis

Average life expectancy for the residents of Kings County is nearly 83 years old, which is higher than the state average in New York (81.4). Among the neighboring counties, New York County shows longer life spans, nearly 4 years longer than the state average, while Richmond County’s average is the lowest of the group.

While New York County has the longest average life expectancy, the shortest expected life span in New York state is seen in Chemung County, at under 77 years old.

In 2022, there were approximately 362,226 seniors (65 and older) residing in Kings 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 on the age of the insured when the policy begins, among other factors. The younger you are when you get coverage and lock in the best rate, the more you save in premiums over the course of the policy.

3. Nearly 15% of the adults in Kings County smoke, and this habit will likely affect the life insurance costs of more than 297,000 of these adults. Life insurance can cost up to 4 times for smokers, 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. 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.

Kings County - Funeral Expenses Statistics and Analysis

Funeral expenses in and around Kings County are similar. The average price of a funeral in Kings County is around $7,500, which is higher than the New York state average (of $6,500) and also the highest among all its immediate neighbors. The lowest average cost for a burial in the area is in the Bronx, closer to $6,400. Suffolk County tends to have the most expensive funerals in New York, (≈ $10,500), while Erie County is the least expensive (under $5,000).

Life Insurance Analysis

1. With 46% of Americans dying with savings of less than $10,000, over 166 thousand Kings County senior residents could be placing the unnecessary and frequently unbearable financial burden on family and friends. While grieving their loss, not only does the family need to plan the funeral, but quite frequently it also needs to pay for it too.

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

2. Besides the burial costs, the deceased frequently leave taxes and other debt behind for the family to take care of. Discuss your senior life insurance options in Kings County with a licensed New York life insurance professional.

3. 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).

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. 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 Kings County, speak with a knowledgeable state-licensed and experienced life insurance professional who has access to multiple insurers and plan types for comparison.

Kings County - Business

Commercial insurance needs vary between each of the nearly 60 thousand business establishments in Kings County. The largest job-creating sectors are:

• Health Care & Social Assistance

• Professional, Scientific, and Technical Services

• Educational services.

Commercial Insurance Analysis

1. Every business in Kings County needs some type of insurance, based on what it does, what it owns, and the amount of people it employs. The coverage mostly falls into: Commercial Property, Business Liability, and Employee Protection and Benefits, such as:

   • 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. Professional services and consulting businesses in the county can benefit from professional liability insurance, also known as Errors and Omissions insurance (E&O insurance), that protects them and their clients in case the professional advice they give causes damages or losses.

To assess your business insurance needs in Kings 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.