How much is insurance for a commercial truck in Ontario?

Commercial truck insurance typically ranges from $10,000 to $20,000 annually for established owner-operators. New ventures often pay $20,000 to $35,000+ due to lack of history. Your final rate depends heavily on your CVOR safety rating, operating radius, and US cross-border exposure.

CVOR and Coverage Requirements

• Liability Limits: While Ontario mandates minimums, most brokers and shippers require $2 million to $5 million in Third Party Liability coverage.
• Impact of CVOR: A "Conditional" or "Unsatisfactory" CVOR rating can increase premiums by 25-50% or force you into the high-risk Facility Association market.
• Cargo Insurance: Standard contracts usually demand $100,000 to $250,000 in motor truck cargo coverage, which is added on top of liability costs.

Review your Level 2 CVOR Abstract for errors before quoting, as clean abstracts secure the lowest rates. Contact a specialized broker to discuss fleet discounts if insuring multiple commercial units.