Can I deduct the cost of my auto insurance premiums?
You cannot deduct your automobile insurance premiums if your car is just for personal use. However, if you use your car for business, you may be able to deduct the business portion of your annual premiums. You also might be able to write off some of the cost if your employer requires you to use your own car on the job and does not reimburse you for the expense.
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Reduce Coverage on Older Cars
Comprehensive and collision coverages will pay any damage to your car in case of an accident, theft or any other accident that isn’t a result of a crash with another car. If your car is worth less then 10 times your premium consider dropping collision or comprehensive coverages or even both. Instead, buy more liability insurance which will help protect you and your assets in case of an accident where injuries are involved. For the full article visit Auto cheap insurance secrets.
Being able to deduct cost of auto insurance as pointed out is possible if car is used for business puropse and not reimbursed but it could be tricky plus I am not sure if it might raise any flags with IRS?
Anyways here's an interesting site with unique idea here people can search to see what others pay for car insurance to get an idea if they are paying more.
http://www.ForAnu.com
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