Believe it or not, it very well could be. There are two main ways to include your homeowner's insurance as a tax write-off. If you use a part of your home as a home office, then you can add a proportional portion of your monthly insurance premiums as a tax write-off. For example, let's say that you have a home office that is one-fourth of your home. If you pay $100 a month, you can write off about $25 per month on the premiums you spend. The same can be said about renter's insurance. On a similar note, if you are a landlord, then almost all of your homeowner's insurance can be considered a business expense. This allows you to write off as much as the premium itself, as long as you have someone renting your house.