Adam Mitchell, IBAO Young Broker of the Year 2019 Ontario Trucking Insurance is a network of RIBO-licensed insurance brokers specializing in commercial trucking. All content is written and reviewed by active industry professionals with direct underwriting experience. Expert review by Adam Mitchell, IBAO Young Broker of the Year 2019 (Mitch Insurance Brokers), edited by Rajwinder Minhas (Five Star Insurance Brokers). Our editorial standards →
When you have two or more trucks, you qualify for fleet insurance—a single policy covering all your vehicles with volume discounts and simplified management. Here's everything you need to know about insuring your trucking fleet in Ontario.
What Is Fleet Insurance?
Fleet insurance is a commercial auto policy that covers multiple vehicles under one policy. Instead of individual policies for each truck, you get composite rating based on your entire fleet's risk profile.
Fleet Insurance Benefits:
- Volume Discounts — Save 15-25% per truck compared to individual policies
- One Policy — Single renewal date, one payment, simplified admin
- Composite Rating — One rate for all vehicles based on fleet average
- Flexible Scheduling — Add/remove vehicles throughout the year
- Fleet Safety Programs — Access to loss control and training resources
Fleet Size Pricing Tiers
| Fleet Size | Typical Discount | Per-Truck Cost |
|---|---|---|
| 2-5 trucks | 10-15% | $8,000-$12,000 |
| 6-10 trucks | 15-20% | $7,000-$10,000 |
| 11-25 trucks | 20-25% | $6,000-$9,000 |
| 25+ trucks | 25%+ (negotiable) | $5,500-$8,000 |
* Costs vary based on CVOR rating, claims history, cargo type, and operating radius
Coverage Components for Fleets
Primary Liability
$1M-$5M per occurrence covering all fleet vehicles. Higher limits for larger fleets or hazmat.
Physical Damage
Comprehensive and collision for your entire fleet. Stated value or replacement cost options.
Cargo Coverage
Blanket cargo coverage for all loads hauled by fleet vehicles.
Hired/Non-Owned Auto
Coverage for rented vehicles or employee personal vehicles used for business.
Advanced safety technology and telematics can reduce fleet premiums by 5-15%
Fleet Safety = Lower Premiums
Insurance companies reward fleets with strong safety programs. Implementing these measures can reduce your premium by 5-15%:
- Driver safety training programs (Smith System, DefensiveDriving.com)
- In-cab cameras and telematics
- Electronic Logging Devices (ELDs)
- Regular vehicle maintenance schedules with documentation
- Written hiring standards (MVR checks, drug testing)
- Accident review committees
Adding/Removing Vehicles
Fleet Reporting Options:
- Monthly Reporting — Report active vehicle count each month, pay pro-rated premium
- Quarterly Reporting — Report every 3 months for established fleets
- Symbol 1 Coverage — Automatically covers ANY vehicle you own (best for frequently changing fleets)
Industry Classification Codes
Fleet insurance premiums are determined by operation classifications. Fleet operators are categorized by NAICS codes (484110 for local, 484121 for long-distance) with corresponding WSIB and ISO ratings.
Ontario Trucking Insurance Classification Reference
Cross-reference table for NAICS, WSIB, ISO, and NCCI codes
| Category | NAICS (i) | WSIB (i) | ISO (i) | Risk Level | Avg. Premium |
|---|---|---|---|---|---|
| General Freight Trucking, Long-Distance Long-haul trucking operations exceeding 150km radius | 484121 | 70220 | CA 7219 | High | $12,000 - $18,000/year |
| General Freight Trucking, Local Local delivery within 150km radius | 484110 | 70210 | CA 7218 | Medium | $6,000 - $10,000/year |
| Specialized Freight - Refrigerated Temperature-controlled cargo transport | 484230 | 70230 | CA 7228 | High | $14,000 - $22,000/year |
| Specialized Freight - Flatbed/Heavy Haul Oversized loads, machinery, construction equipment | 484220 | 70230 | CA 7222 | Very High | $18,000 - $28,000/year |
| Specialized Freight - Tanker/Hazmat Hazardous materials, fuel, chemicals | 484230 | 70240 | CA 7229 | Very High | $22,000 - $35,000/year |
| Used Household Goods Moving Residential and commercial moving services | 484210 | 70220 | CA 7217 | Medium | $8,000 - $14,000/year |
| Dump Truck Operations Construction materials, aggregate hauling | 484220 | 70230 | CA 7216 | High | $10,000 - $16,000/year |
| Tow Truck/Wrecker Services Vehicle recovery and towing | 488410 | 70250 | CA 7227 | High | $12,000 - $20,000/year |
Note: Premium estimates are based on 2024 Ontario market rates for operators with clean CVOR records. Actual premiums vary based on experience, claims history, fleet size, and cargo type. Get a personalized estimate →
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