An insulation stripping tool can be used to precisely remove a section of insulation located away from the edges of an insulated wire. The insulation stripping tool includes two transverse cutting elements which can be spaced a predefined and precise distance apart, and upper and lower longitudinally-extending cutting elements extending between the transverse cutting elements. Hinged lever arms can be gripped to move the cutting elements towards one another and cut into the insulation sheathing an insulated wire. A depth guide may be included to control the depth of the insulation cut to minimize or avoid scoring or otherwise affecting the conductive core of the insulated wire.
