Can I write off General liability insurance?

General liability insurance premiums are deductible as ordinary and necessary business expenses if they are directly related to your trade or business. This deduction is applicable whether you are a sole proprietor, partnership, or corporation. However, personal liability insurance is not deductible. For example, if you operate a small business and purchase general liability insurance to protect against potential lawsuits, this cost can be deducted. If the insurance also covers personal liabilities, only the portion attributable to business use is deductible.