What is the cheapest insurance for a truck?

The cheapest commercial truck insurance starts at $5,000-$9,000 per year for established fleets, while new owner-operators typically pay $10,000-$18,000. Securing the lowest rates requires a clean CVOR abstract, at least three years of commercial driving experience, and operating within a limited radius.

How to Reduce Ontario Trucking Premiums

• Clean CVOR Level 2: Maintaining a violation-free Carrier Safety Record is the single biggest factor in accessing "standard market" rates versus expensive "Facility" insurance.
• Higher Deductibles: Increasing your deductible to $5,000 or $10,000 can lower annual premiums by 10-15%, provided you have cash reserves for claims.
• Operating Radius: Designating your route as "local" (within 160km) is significantly cheaper than long-haul or cross-border transport into the US.

To find the absolute lowest rate, compare quotes from specialized trucking brokers who access niche markets like Intact, Aviva, or Echelon rather than general insurers.