Can You Claim Home Insurance On Your Taxes?

  1. 820 POINTS
    Pete Wittman
    President, The Wittman Group, Tennessee
    Typically, you can not claim your home owner's insurance on your primary residence as a deduction on your taxes.  If you own, rental homes, then you could deduct the premiums as a tax deduction.  A good rule of thumb for insurance used for personal benefit (not a business use)... if you can deduct the premiums on your taxes, the benefits are likely to be taxed.  Disability is probably the best illustration... if the premiums are taken out pre-tax, then the benefit is taxed.  Life insurance inside a pension plan is another example... the death benefit is taxed as income!
    Answered on April 21, 2014
    flag this answer
    2. Did you find these answers helpful?
    Yes
    No
    Go!

Add Your Answer To This Question

You must be logged in to add your answer.


<< Previous Question
Questions Home
Next Question >>