Small Fleet Insurance in Ontario
Running 2-5 trucks? You're in the sweet spot where fleet insurance starts making sense. Here's how to get volume discounts even with a smaller operation.
Last updated: January 2026 | Small fleet guide
Small Fleet at a Glance
Do I Qualify for Fleet Insurance with 2 Trucks?
Yes! While larger discounts kick in at 5+ vehicles, many Ontario insurers offer small fleet programs starting at just 2 power units. Here's what you can expect:
- 5-8% volume discount
- One policy vs two
- Simpler administration
- Limited carrier options
- 10-12% volume discount
- More carriers available
- Better negotiating power
- Quarterly reporting possible
- 15-18% volume discount
- All carriers available
- Full composite rating
- Quarterly/monthly reporting
Benefits of Small Fleet Insurance
Even with just 2-5 trucks, moving to fleet insurance offers meaningful advantages:
Cost Savings
Save $500-$1,500 per truck annually. With 3 trucks, that's $1,500-$4,500 back in your pocket every year.
One Renewal Date
Instead of tracking 3-5 different policy renewals, you have one date to remember and one payment cycle.
Easy Expansion
Adding truck #4 or #5? Just endorse your existing policy. No new applications or underwriting delays.
Driver Flexibility
Any approved driver can operate any truck in your fleet. No more "wrong truck" coverage gaps.
Requirements for Small Fleet Insurance
To qualify for small fleet rates in Ontario, you'll typically need:
- 2+ power units (trucks, not trailers)
- Valid CVOR with satisfactory status
- Business registration (corporation or sole prop)
- Driver abstracts for all operators
- 2-3 years commercial driving experience (per driver)
- Loss runs if previously insured
Tips for Getting the Best Small Fleet Rates
- Bundle coverages: Get liability, physical damage, and cargo from the same carrier for package discounts.
- Maintain clean CVOR: A violation rate under 30% opens more doors.
- Document your safety program: Even a simple written program shows insurers you're serious.
- Consider telematics: Some carriers offer 5-10% discounts for GPS/camera systems.
- Shop at renewal: Get competitive quotes every year—loyalty doesn't always pay.
Planning to Grow?
Start with fleet insurance now, even at 2 trucks. When you add trucks 3, 4, and 5, your rates automatically improve. You're building a track record that will pay off with deeper discounts as you scale.
Related Fleet Insurance Topics
Fred founded Morison Insurance in 1994, growing it from a single Hamilton office to Ontario's #1 Insurance Broker as named by IBAO. With roots dating back to 1895, the family business now serves over 80 professionals across multiple locations.