160 Million Returns. Millions of Extensions. Insurance Documents Many Overlook

160 Million Returns. Millions of Extensions. Insurance Documents Many OverlookPR NewswireLOS ANGELES, March 3, 2026

As taxpayers prepare to file, Mercury Insurance highlights key insurance paperwork that may be needed — and often forgotten.LOS ANGELES, March 3, 2026 /PRNewswire/ -- The IRS processes more than 160 million individual tax returns each year, and millions of taxpayers request filing extensions. While the agency does not categorize the specific reasons for extensions, consumer surveys consistently show many Americans feel unprepared at filing time — often citing difficulty gathering required documents.Mercury Insurance is encouraging homeowners and renters to review key insurance paperwork now, before deadlines approach."Tax season is ultimately about preparation," said Adam Bakonis, Sr. Product Manager at Mercury Insurance. "Insurance documents may not be the first thing people think about, but depending on your situation, they can play an important role. Knowing what you may need — and where to find it — can help prevent unnecessary stress."Insurance Documents That May Matter at Tax TimeMost personal insurance premiums are not tax-deductible. However, certain documents may be relevant depending on individual circumstances. Mercury recommends reviewing:Mortgage escrow statementsHomeowners whose insurance premiums are paid through escrow should confirm annual totals for accuracy and recordkeeping.Declarations pageThis summary document confirms coverage limits, policy periods and insured property during the tax year.Proof of premium paymentsIf a portion of a home is used exclusively for business purposes, insurance costs may be partially deductible. Taxpayers should consult a qualified tax professional to determine eligibility.Claims documentationIn federally declared disaster situations, casualty losses may qualify for tax treatment under IRS guidelines. Retain settlement summaries, repair estimates and claim statements.Personal property endorsementsHigh-value items or equipment tied to business use or disaster-related claims may require documentation.Accessing Documents QuicklyMost insurers, including Mercury, provide digital access to policy documents through secure online portals and mobile apps. Policyholders who have not set up online access are encouraged to do so well before filing deadlines."Digital access makes it easy to retrieve declarations pages, payment history and claims documentation without waiting for mailed copies," added Bakonis. "A few minutes of preparation now can make filing season smoother."Tax season also offers a natural checkpoint to review coverage following home renovations, high-value purchases or the start of a home-based business.For more information about homeowners and renters insurance coverage, visit the Mercury Blog.About Mercury InsuranceMercury Insurance (NYSE: MCY) is a multiple-line insurance carrier predominantly offering personal auto, homeowners, renters and commercial insurance through a network of independent agents in Arizona, California, Georgia, Illinois, Nevada, New Jersey, New York, Oklahoma, Texas and Virginia, as well as auto insurance in Florida. Mercury writes other lines of insurance in various states, including commercial, business owners and business auto, landlord, home-sharing, ride-hailing and mechanical protection insurance.Since 1962, Mercury has provided customers with tremendous value for their insurance dollar by pairing ultra-competitive rates with excellent customer service, through more than 4,200 employees and a network of more than 6,340 independent agents in 11 states. Mercury has earned an "A" rating from A.M. Best, as well as "Best Auto Insurance Company" designations from Forbes and Insure.com. For more information visit www.MercuryInsurance.com or follow the company on X, Instagram or Facebook.Media interested in receiving updates from Mercury can learn more at the Mercury Newsroom. View original content to download multimedia:https://www.prnewswire.com/news-releases/160-million-returns-millions-of-extensions-insurance-documents-many-overlook-302702739.htmlSOURCE Mercury Insurance