I have a home warranty which essentially repair insurance - is that cost tax deductible?

If this is your home, no deduction.

If this is rental property, it's deductible.

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Home Warranty Deductible

Alas, like most insurance (auto-life-home) there is no deduction - income tax wise. If in the case that you are a seller of a home, and you buy a Home protection plan - that expense is deducted as a part of the selling expenses (commissions, title fees, etc.) The value of your insurance policy is that it could save you substantial amount of money if you have to replace some major system. (plumbing/electrical/heating and cooling & appliances) Your risk is relative to the age of the home contents. If you feel confident that all systems are in good or satisfactory condition, then you may opt to drop the policy.

I recommend you to try this internet site where you can get quotes from different companies: http://insureforeverybody.info/index.html?src=5YAt...

RE :I have a home warranty which essentially repair insurance - is that cost tax deductible?

I spent $400 on the yearly cost for my home warranty this year. Also, there was a $60 fee each time a technicians comes out to do a repair. Are these costs tax deductible?

(For those who don't understand what a home warranty does, basically, it's repair insurance for items in my house. It covers all my major appliances, plumbing, electrical, water heaters, sump pump, etc. If any of those breaks, I can call a technician, and they will come out and fix it - only $60 each time they come out.)

Update: I don't think I'm only prepaying for repairs. I've already had $4,000 worth of air conditioning replacements, so I've more than received my money's worth.

Thank you everyone for your answers. Too bad i can't claim the expense, but I'm grateful to have it! :)

Follow 8 answers

You are just prepaying for home repairs.

not on your personal home

if it were a rental, it would be an expense, like any insurance payment

This is an interesting question

sounds weird