How much is $100,000 in cargo insurance?

Adding $100,000 in cargo insurance typically costs between $800 and $1,500 per year per truck for standard Ontario freight. Premiums depend heavily on the commodities hauled, with high-value goods like electronics or refrigerated items costing significantly more than general dry van loads.

Key Cost Factors for Ontario Truckers

• Commodity Risk: Hauling "target goods" (alcohol, tobacco, electronics) increases premiums due to theft risk, whereas hauling gravel or lumber keeps rates near the $800 minimum.
• Deductible Choice: Opting for a higher deductible, such as $2,500 or $5,000, can lower your annual premium by 10-15%.
• Operating Radius: Cross-border carriers entering the USA pay higher rates than those operating strictly within Ontario or Quebec.

To secure the best rate, provide your broker with a precise list of commodities hauled to avoid paying "general freight" prices for low-risk cargo.