Hempstead Insurance Information
How much Car Insurance coverage do I need in Hempstead, NY?
In the state of New York, you are required to have a minimum liability limit of $25,000 for each injured person, up to a total of $50,000 per accident, and $10,000 for property damage per accident.
I live near Hempstead, Do I need Flood Insurance?
According to www.floodsmart.gov, your home has a 26% chance of being damaged by a flood during the course of a 30-year mortgage, compared to a 9% chance of fire. If you live near Hempstead, NY, you are susceptible to these damages.
According to The National Flood Insurance Program, since 1978, the town of Hempstead, NY has had 4,730 total flood insurance claims resulting in payments totalling $25,630,234.66.
Most home insurance policies do not cover flood damages, so it is recommended that you inquire about the additional costs to make sure you are covered. Even if you live outside of a flood plain, you still may need flood insurance. Over 25% of flood insurance claims are made by individuals who live outside of these flooding zones.
I live near Hempstead, Do I need Renters Insurance?
The median dollar amount of rent paid by residents of Hempstead, NY is $1,211 a month. If you are paying that amount of money to your landlord each month, it is definitely worth a few more dollars to make sure your contents are protected. If you have a car insurance policy, adding renters insurance could make the entire amount per month cheaper. Ask your insurance agent for more details.
How many people own homes in Hempstead, NY?
According to City Data, there are 15,563 occupied houses in Hempstead – 6,549 are occupied by owners, and 8,627 are occupied by renters.
How much are homes worth in Hempstead, NY?
The median house or condo value in 2007 was $350,017. This is up from $165,500 in 2000. This shows that Hempstead, NY is a great place to live since the value of homes are improving over time.
Hempstead, NY can be a confusing area because the village of Hempstead has a population of 56,554 and is located within the town of Hempstead which has a population of 751,276.
The Town of Hempstead vs. the Village of Hempstead
In New York, a “town” is a major division of each county. They are similar to “townships” in other states like Michigan. There are 932 towns in New York. Towns are not allowed to cross county borders since they are a division of the county. A town can contain none or many villages, hamlets, or communities. Most of these smaller communities have unique zip codes and are recognized by the United States Postal Service. Also, many places in New York with the word “town” in their names, are not actually towns. Example: Elizabethtown (a hamlet) and Levittown (a hamlet). Here is a full list of towns in New York.
In New York, a village is an incorporated area within a town. Here is a full list of villages in New York.
Hempstead (the village)
- Known for having one of the busiest Justice Courts in the state of New York which generates more revenue than any other city or town court.
- It is the largest incorporated village in the state of New York
- The median income for a household is $45,234.
Hempstead (the town)
- One of the three towns in Nassau County, NY.
- Larger than any city in New York with the exception of New York City.
(information taken from Wikipedia)