Is homeowners insurance tax deductible?

Homeowners insurance premiums are generally not deductible on your personal income tax return. However, there may be cases where you can deduct homeowners insurance premiums as a business expense. Consult a tax professional for more details about your specific situation.*

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How can I deduct homeowners insurance premiums?

You may be able to claim a deduction for homeowners insurance premiums if it's a business expense.

  • If you work from home, your tax professional may determine that a certain percentage of your homeowners insurance premiums may be claimed as a business expense, based on the percentage of space in your home that's used for business purposes. Note, this deduction is only allowable if you are self-employed and is generally not allowable for employees.
  • If you're insuring a rental property, your tax professional may determine that the home insurance premiums are tax-deductible as a business expense necessary to protect the value of the rental property.

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*This material is for educational purposes only and is not intended to provide legal, tax or financial advice applicable to your unique circumstances. For specific advice about your unique circumstances, you should consult a qualified professional. Progressive assumes no obligation to inform you of any changes in tax laws or other factors that could affect the information contained herein.

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