What Does Driving for Rideshare Mean for Your Car Insurance?
Does your personal auto insurance policy cover you if you are a rideshare driver? Does it matter when your rideshare company provides liability insurance? Without a doubt, it does matter! Since your personal auto insurance policy is meant to cover you when you are driving for personal reasons (for pleasure, to get to work, to pick up groceries, etc.) your policy may be void if you use your car for business purposes. The limited liability insurance provided by the rideshare company only covers you during a trip, not before or on your way to the next pickup. However, many insurance companies are now offering affordable rideshare add-ons to personal car insurance policies. Give us a call if you are a rideshare driver or are thinking about it. We can help you find the right policy with the appropriate coverage for all your needs.
Claiming Auto Insurance Expenses (and other costs) as Tax Deductions
Whether you are driving for a rideshare company or are using your car for any other business purpose, the cost of car insurance or commercial auto insurance is an eligible tax deduction. Auto insurance is just one of the costs of your automobile that you can deduct from your income to reduce the amount of income tax you need to pay. Do you have have questions about calculating auto insurance expenses or need help preparing your tax return? Call us!
Let Us File Your Taxes – Income Tax Service at E&Y Insurance Agency
In addition to being an insurance agency, E&Y is a tax preparation firm. Come to us for tax assistance, advice on eligible tax deductions and to prepare and file your tax return. We provide income tax service for individuals, families and businesses in Troy, Michigan and the surrounding area.
Business Insurance – Another Allowable Expense
If you are self-employed, business insurance is an expense that you can deduct from your income at tax preparation time. Depending on what you do, some form of business insurance may be mandatory, for example, liability insurance is required for a trucking license. In addition to any mandatory coverage, there are other forms of business insurance that can help protect you and your employees. Business insurance can include commercial property insurance, business interruption insurance, errors and omissions insurance, commercial vehicle insurance, truckers insurance (including bobtail insurance) and more. Call the best insurance agency to talk about your business and we will find the right insurance package that fits your business and your budget.
Home and Condo Insurance – at E&Y Insurance Agency
Shopping around for home or condo insurance can take more time than you want it to. Simply filling out forms on websites to get quotes can take all day. Comparing apples to apples is difficult because so-called ‘quick quotes’ don’t often include a lot of detail about the policy. An Insurance broker can find the right condo insurance policy by doing the shopping for you, obtaining the quotes and helping you to make accurate comparisons. The best insurance agency will give you advice on the type of coverage you need and can find the best rates. Give us a call at 248-671-6860 or fill out (just the one) form below and let’s talk!
