Deductible Insurance Expenses
You can deduct most types of insurance that deal with your rental property, like Homeowner’s Insurance, Casualty Insurance, and Private Mortgage Insurance.
Other common expenses include coverage for fire, theft, flood, and liability.
If you have employees, you can even deduct the cost of their health and workers’ compensation insurance.
Just be sure that the expense is ordinary and necessary for managing your investment. If you hire a family member to be your employee, writing off their insurance may be possible, but it may also be a reason for an audit.
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