Line 8690 - Insurance
You can deduct all ordinary commercial insurance premiums you incur on any buildings, machinery, and equipment you use in your business.
The insurance costs related to your motor vehicle have to be claimed as Motor vehicle expenses (not including CCA).
The insurance costs related to business use of work space in your home have to be claimed as Business-use-of-home expenses.
In most cases, you cannot deduct your life insurance premiums. However, if you use your life insurance policy as collateral for a loan related to your business, you may be able to deduct a limited part of the premiums you paid. For more information, see Interpretation Bulletin IT-309, Premiums on Life Insurance Used as Collateral.
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