Can the Insurance Premium of a Car Be Deducted?
1 Answers
The insurance premium of a car cannot be deducted. Introduction: Car insurance is a type of property insurance that covers the vehicle itself and third-party liability. It primarily safeguards against losses caused by traffic accidents. Motor vehicle insurance is also a type of transport insurance that covers the vehicle itself and third-party liability. Insurance Objectives: The insured clients are mainly legal entities and individuals who own various motor vehicles. The insurance targets primarily include various types of cars, but also specialized vehicles such as electric vehicles, battery-powered vehicles, and motorcycles. Motor vehicles refer to cars, electric vehicles, battery-powered vehicles, motorcycles, tractors, various specialized mechanical vehicles, and special-purpose vehicles.