How much is insurance for a truck in Ontario?

Owner-operator truck insurance typically ranges from $12,000 to $18,000 annually. New ventures often face higher premiums of $20,000 to $25,000+ due to limited history. Final costs depend heavily on your CVOR record, years of commercial driving experience, and whether you operate cross-border.

Primary Cost Factors

• Operating Radius: Cross-border routes to the USA cost significantly more than local Ontario cartage due to higher liability requirements.
• Commercial Experience: Insurers favor drivers with 3+ years of verifiable history; anything less attracts "new venture" surcharges.
• Cargo Type: Hauling hazardous materials or automobiles increases liability costs compared to general freight.

To secure the best rate, maintain a clean abstract and contact a specialized broker to compare quotes from markets that favor your specific cargo class.