Can I Claim Renters Insurance On My Taxes? 
The IRS does not look favorably on any personal insurance deductions such as car , home , boat , jewlery or fine art insurance or rental insurance . However , Renter 's Insurance Can be tax deductible if you operate a business out of your home . In order to claim the renters insurance as a valid deduction you must allocate a certain percentage of your home as your office space and that portion theirof is tax deductible as part of eligible expenses . If you do not own a business , you can not deduct your renter 's insurance 