Travel trailer insurance Ontario

Factors that affect the cost of trailer insurance premiums

There’s no single price tag for trailer insurance in Ontario. Each policy is based on a mix of personal risk factors, regional weather trends, and how you use and store your trailer. Here are some of the main things that influence your premium and why:

Storm and weather exposure

Ontario is no stranger to severe weather events, and they’re becoming a major financial threat. In 2024, insured damage in Canada caused by severe weather surpassed $8 billion, including $1.1 billion in Ontario from major flooding alone. The previous year, a series of severe summer storms caused more than $340 million in insured losses for Ontario. A 2023 study also found that Ontario consistently records more wind-related insurance losses than any other province.

Because trailers are lightweight and exposed, they tend to suffer more damage from things like hail, strong winds, and falling debris. If your trailer is parked outside year-round in Ontario or stored in an unprotected area, insurance companies will likely factor in that increased risk.

Theft and vandalism

Ontario continues to struggle with auto theft claims, and trailers are no exception. In fact, according to the Ontario Provincial Police (OPP), an average of 650 trailers are reported stolen to the OPP annually. Keep in mind that this number doesn’t include trailers reported to municipal police forces.

Between 2018 and 2023, auto theft costs in the province increased by 524%, with more than $1 billion in total losses in 2023. While Ontario did experience a 16% decrease in auto theft claims in 2024, recreational trailers are still a popular target for thieves because they’re easy to move and often contain valuable gear. If your trailer is stored on a driveway or in an open lot, your premium will likely reflect the higher chance of theft or vandalism.

Where you live in Ontario

Insurance rates aren’t just set to one rate for the entire province. They also vary based on where within Ontario you live. Large urban areas like the GTA, Hamilton, and Ottawa tend to have higher premiums because of heavier traffic and higher crime rates. In smaller towns or rural areas where weather exposure and crime patterns differ, rates are often lower.

Trailer type and declared value

The more complex or high-value your trailer is, the more it costs to insure. Luxury models with slide-outs, appliances, solar systems, or custom interiors tend to carry higher repair and replacement costs. Insurers will use your declared value and accessories to calculate how much coverage you actually need and what your risk level looks like.

How often you use your trailer

A trailer that only hits the road a few weekends a year will generally cost less to insure than one that travels across provinces or even down to the U.S. every month. Long-distance use and frequent camping increase the risk of collisions and other damage.

Storage conditions

Keeping your trailer indoors or in a fenced facility reduces exposure to weather and theft, which may lead to lower rates. Trailers left outdoors year-round are more likely to be damaged by storms, falling branches, vandalism, or stolen, so they typically cost more to insure.

Coverage level and deductibles

Increasing your coverage limits, opting for guaranteed replacement cost, or choosing comprehensive protection tends to come with higher insurance rates, but you will have more coverage when you need it most. You can help balance the increase by choosing a higher deductible, which typically lowers your monthly premium, though it means you’ll need to pay more out of pocket if you file a claim.

Claims history

A clean claims record shows that you’re a low-risk customer, which may help you lower your rates by qualifying for loyalty or claims-free discounts. However, having multiple claims in a short period, even for small losses, can raise your rates for future renewals.

Working with a local BrokerLink advisor is one of the best ways to make sure you’re getting the right balance between cost and coverage. We will work with several of Ontario’s top insurance providers to find and tailor your policy to how and where you travel. Reach out today to get started.