Can I Claim Homeowners Insurance On My Tax Return?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   Generally, your homeowner’s insurance premium is not tax deductible.  It could be construed as a business expense if you conduct a business at your residence and have declared that on your income tax.  While there might be additional circumstances they would be rare.  Incidentally, most companies that issue homeowner’s policies take a very dim view of business conducted on the premises.  The most common exception is private music teachers.

   Answered on March 24, 2014

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