How much is insurance for a semi truck in Canada?

Insurance for a semi-truck in Canada ranges from $8,000 to $20,000+ per year. In Ontario, long-haul owner-operators typically pay $12,000 to $18,000 annually. New authorities with high-risk cargo or cross-border routes often face premiums exceeding $25,000. Rates heavily depend on your driving history and operating radius.

Factors Influencing Long Haul Rates

• Cross-Border Operations: Travelling to the USA increases premiums by 15-25% due to higher liability requirements (typically $1M-$2M USD).
• New Authority vs. Established: New ventures pay premium rates (up to $30,000/year) until establishing 1-3 years of clean insurance history and CVOR status.
• Cargo Type: Hauling hazardous materials (HazMat) or high-value goods will significantly raise base premiums compared to general freight.

Contact a specialized broker to review your CVOR abstract and secure competitive quotes tailored to your specific hauling routes and experience level.