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Long Island Insurance Facts & History

Auto Insurance

Ever wonder why car insurance is so expensive on Long Island?  As of the 2010 US Census, there are over 7,500,000 million people on Long Island. According to the NY State DMV, there are 3,387,627 registered motor vehicles, and 3,983,162 licensed drivers on Long Island, including Kings and Queens counties.  Long Island has 5402 persons per square miles, making it the most populous island in the United States and the 17th most populous in the entire world.  

The cost of auto insurance is determined on several factors.  One of the primary factors is the garaging location.  This is determined by the territory used which is based on population density of that area.  It is widely accepted that the less dense an area, the lower the risk to the insurer, hence the lower cost to insure the exposure; in this case the vehicle units.   

History of Commerce on Long Island

Long Island extends 118 miles and 11th largest island in the United States

At 1401 square miles, Long Island is actually larger than Rhode Island at 1214 square miles

It is the 17th most populous island in the world

The Plymouth Company settled in 1635 when title was conveyed by the Delaware and Montauk Indians to William Alexander of Great Britain

A Dutch West India Company established Brooklyn, formerly Bruekelen

Hempstead, Southampton, and Flushing were settled by the English

New Netherland and the New England Confederation entered into a treaty dividing Long Island by giving the British east of Oyster Bay and the Dutch the west

Britain took control of Long Island in 1664 and in 1685 Long Island was divided into four counties; Kings, Queens, and Suffolk

The Battle of Long Island was one of the first confrontations of the Revolutionary War

The Long Island Railroad started in 1836 and later the Long Island Expressway linked New York City to the many farmers and fisherman to the merchants in the city

The Brooklyn Bridge was completed in 1883 which was the structure to connect Long Island to the rest of the US other than by boat

After WWII, William J. Levitt built over 17,000 homes on Long Island for the GI’s as part of an affordable housing initiative which paved the way for other middle class income areas to be established

La Guardia and Kennedy Airports were built to meet the demand of the air traffic after WWII

9 bridges and 13 tunnels connect Long Island to the rest of NYC

Robert Moses created many of the parkway designed to link the parks of Long Island

The Hauppauge Industrial Park is home to more than 1300 businesses

Business Data on Long Island

According to the US Census Bureau, in 2009 the number of private nonfarm establishments by county were as follows:  

Home Ownership on Long Island  Source:  US Census Bureau

As of April 2012, the median home price for sold houses on Long Island for Nassau County was $ 397,000 and $ 285,000 in Suffolk County according to MLSLI.  This is quite bit lower than the US Census Bureau estimated.     

Contractors

Both counties of Long Island require contractors engaged in home improvements to be licensed with the office of consumer affairs.  This is intended to protect the consumer from fraudulent practices of the contractor.  If a license is granted to a contractor, the office reserves the rights to pull the license if there are too many complaints filed against them.  

Nassau County Licensing & Insurance Requirements - Office of Consumer Affairs

Suffolk County Licensing & Insurance Requirements - Dept of Consumer Affairs

NYC Licensing & Insurance Requirements - Dept of Consumer Affairs

Long Island Population by Township Source:  Wikipedia