A: Although homeowners insurance is not tax-deductible, losses that are not covered under a policy may be covered. We recommend that you review federal agency information or consult a tax professional regarding uncovered losses.

In most situations, the premium you pay for homeowners insurance is not tax-deductible. There are some exceptions if you work from home or rent out your property as a landlord. Additionally, some losses that may not be covered under your policy - such as a federally designated disaster event - may be eligible for a tax deduction. We recommend that you review federal agency information or consult a tax professional regarding uncovered losses.