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Compare the Cost of Volvo XC40 Insurance by Model Year and Company
MoneyGeek found that the average cost of insuring a Volvo XC40 is $1,387 per year, which is cheaper than the average cost across all car models. It is moderately expensive to insure a Volvo XC40. However, Volvo XC40 insurance rates can vary by insurance company and your vehicle’s model year.
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Last Updated: 5/18/2022
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Mark Fitzpatrick
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When purchasing the best insurance for your Volvo XC40, you need to shop around. Insurance rates can change depending on your Volvo XC40 year since different companies will have different costs by year. As a result, it is beneficial to compare different insurers’ rates before you purchase a policy.
Key Takeaways for Volvo XC40 Insurance
The average cost to insure a Volvo XC40 is $1,387 per year, which is roughly $40 less than average car models.
The cost to insure your Volvo XC40 can change by $768 per year depending on the insurer you choose.
Insurance premiums for a Volvo XC40 can vary by the car’s year, with older vehicles receiving lower rates.
How Much It Costs to Insure a Volvo XC40 and the Cheapest Company
The company you use to insure your Volvo XC40 can have an impact on your insurance rates. The average cost of insurance for a Volvo XC40 is $1,387 per year.
The cheapest insurer for Volvo XC40 insurance is Progressive, at roughly $1,079 annually, while the most expensive insurance for this car is provided by Allstate and will cost you around $1,847 annually. This is a difference of around $768 annually.
The Average Annual Cost of Volvo XC40 Insurance by Company
A sample driver profile of a 40-year-old male was used by MoneyGeek to collect all the information about car insurance providers' rates. The driver has 100/300/100 liability insurance with comprehensive and collision coverage.
The Average Cost to Insure a Volvo XC40 by Company
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- CompanyAverage Annual Rates
- 1.$1,079
- 2.$1,134
- 3.$1,247
- 4.$1,359
- 5.$1,405
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Is a Volvo XC40 Expensive to Insure?
Multiple factors influence the cost of insuring a car. These can include theft rates, horsepower, vehicle value and more.
The cost of Volvo XC40 insurance is moderate. This is because certain cars tend to be more costly to insure due to the vehicle’s value, repair costs and theft rates.
The Best Car Insurance Company for a Volvo XC40
When purchasing car insurance for your Volvo XC40, you shouldn’t only consider the cost of the insurance. You should also evaluate the insurance company’s customer satisfaction ratings, complaints against the insurer, the policy cost and other related factors.
MoneyGeek determined the best car insurance for your Volvo XC40 after considering all these factors.
1
USAA
Score:96.9
2
Progressive
Score:89.5
3
GEICO
Score:84.7
4
Nationwide
Score:83
5
State Farm
Score:81.7
6
Allied
Score:NaN
7
Allstate
Score:69
How Much It Costs to Insure a Volvo XC40 by Model Year
As a car gets older, the cost of insuring it goes down. This is due to the fact that when the value of the car depreciates, the cost of insuring it also decreases.
The average insurance cost for a 2020 Volvo XC40 is $1,387 annually. The cheapest insurance you can get for a 2020 Volvo XC40 is from Progressive at roughly $1,079 per year.
Select your Volvo XC40 year to see how rates vary since the cheapest company can change depending on the year of your car.
The Average Cost to Insure a Volvo XC40 by Model Year
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- CompanyAverage Annual Rates (2020 model)
- 1.$1,079
- 2.$1,134
- 3.$1,247
- 4.$1,359
- 5.$1,405
How Expensive Is It to Insure a Volvo XC40 Compared to Other Cars?
If you are driving a Volvo XC40, then you have to pay a modest insurance cost compared to other vehicles. The average cost of insuring the Volvo XC40 is $1,387 per year, which is $40 less than the average across all car models.
How Much It Costs to Insure a Volvo XC40 for 16- to 25-Year-Olds
A driver’s age plays a big role in determining the cost of insurance, with younger drivers typically paying higher rates. This is because young drivers are inexperienced and more likely to get into accidents.
If an 18-year-old driver is getting a Volvo XC40 insured on his or her name, it can cost up to $4,528 yearly on average. The same insurance will cost roughly $3,140 less for a 40-year-old driver with the same car model.
Teens can save money on car insurance by staying on their parent’s policies as this is generally cheaper than buying their own coverage.
You can find the rates for insuring a Volvo XC40 for drivers ages 16 to 25 years below.
The Average Cost to Insure a Volvo XC40 by Driver Age
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- AgeAverage Annual Rates
- 16$5,805
- 17$5,142
- 18$4,528
- 19$3,243
- 20$2,894
How Does Location Affect the Cost of Volvo XC40 Insurance?
The costs of insurance for a Volvo XC40 on this page are based on the national average. However, your car insurance can be affected by the state you live in. You can learn more about car insurance in your state of residence using our state page analysis.
FAQs About Volvo XC40 Insurance
Apart from the car model, there are other factors that have a huge impact on car insurance costs. These frequently asked questions about Volvo XC40 insurance can help you learn more about insuring this kind of vehicle.
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Methodology
MoneyGeek collected data based on a sample drive profile for the Volvo XC40. The sample driver is a 40-year-old male driver who purchases a full coverage insurance policy with the following:
- $100,000 in bodily injury liability insurance per person
- $300,000 in bodily injury liability insurance per accident
- $100,000 in property damage liability insurance per accident
- Comprehensive and collision insurance with a $1,000 deductible
The rates are averages and may not match the exact premiums of your specific insurance coverage.
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