If your insurance policy is considered ordinary and necessary to operate your business in a safe manner, then yes, you can deduct it. Generally, you can deduct most of the costs associated with running your business from your taxable income.  Even though, as a general rule of thumb, it is acceptable, we cannot speak on behalf of every unique business. Therefore, we still highly recommend that you consult a tax professional to ensure your deductions meet the requirements of the IRS or other governing tax organizations.