Downey, CA: Insurance Industry Overview
Situated in the southeast Los Angeles County, California, Downey is 21 km (10 mi) southeast of downtown LA. It’s considered among the Gateway Cities. It is in this city that the Apollo space program was born, and it’s also the hometown of Richard Carpenter and Karen Carpenter. Downey also has the unmatched title of being the home of the oldest McDonald’s restaurant in the world still operational. According to the 2010 Census, the city had a population of 111,779.
The city’s economy employs 54,301 people. The Downey, CA, economy is specialized in utilities, wholesale trade and manufacturing. These employ more people than you would expect from an area this size. Manufacturing is the biggest employer, followed closely by Health & Social Assistance while the Retail Trade is the third largest employer.
Finance and Insurance is the third highest industry in Downey CA, second only to Utilities.
The median household income for the people of Downey, CA, is 65,332. This is more than the national median annual income of the country. It is in fact even better than that of the California.
With a city of median annual income as that of Downey’s, it is not surprise to find that the insurance company is booming. There are all kinds of insurance companies here that provide different services that range from personal life insurance, business liability insurance and auto insurance.
As an area where manufacturing and retail trade are the leading industries, there are many people with business-type insurance. The main ones are workers compensation insurance and general liability insurance.
The standard of life of a particular city also points to how actively or not people are insured. In the case of Downey, CA, where the median annual household income is even better than the national figure, you can’t expect anything less. People are fully aware of the benefits of life insurance and most of them have policies.
Apart from the actual insurance companies, the city is littered with hundreds of insurance brokers and agents. These help you access the services of an insurance company faster, without necessarily having to visit the physical location of the given insurance company.
However, because insurance brokers and agents are so many here, it’s up to you to do your research before you choose one. Make sure your broker or insurance agent is registered, and that they've been in business for long enough. Full details on the things to keep in mind when choosing a broker is a story for another day. Meanwhile, do have a wonderful time.
Learn more about the different types of insurance from Strong Tie Insurance. You may also call (323) 771-1100 and talk to one of the agents.