Founded on the concept of vehicle safety in 1927, Volvo has long been recognized as one of the safest brands on the road. This exceptional safety and reliability gives Volvo a distinct edge when it comes to car insurance rates.
As one of the larger factors that determines auto insurance prices, safer vehicles reduce occupant injuries, which in turn lowers claims paid by car insurance companies.
Drivers who choose a safer vehicle to insure, are rewarded by paying lower rates.
In this article, we summarize the average cost to insure all Volvo models produced since 2013. In addition, we compare the average cost across the entire brand to all other popular auto manufacturers.
How much does it cost to insure a Volvo?
Average Volvo car insurance rates for 2024 models range from $2,416 a year for a Volvo XC40 up to $2,940 per year for the Volvo S90.
The Volvo S60 and S90 sedans along with the XC40, V60 and XC90 SUVs have some of the best rates in their respective luxury segments.
The average insurance cost for all Volvo models for the 2024 model year is $2,684 per year. When compared to the average cost of car insurance in the U.S. of $2,276, Volvo insurance is $408 more per year.
Average car insurance cost is detailed in the table below for Volvos sold in the U.S. since 2013. Models like the C30, C70, S80, and XC70 are no longer produced and their last production year is noted.
| Model | Annual Premium | Cost Per Month |
|---|---|---|
| Volvo C30 2013 and prior model years | $1,588 | $132 |
| Volvo C40 | $2,502 | $209 |
| Volvo C70 2013 and prior model years | $1,596 | $133 |
| Volvo EX90 | $2,876 | $240 |
| Volvo S60 | $2,814 | $235 |
| Volvo S80 2016 and prior model years | $1,880 | $157 |
| Volvo S90 | $2,940 | $245 |
| Volvo V60 | $2,808 | $234 |
| Volvo V90 | $2,558 | $213 |
| Volvo XC40 | $2,416 | $201 |
| Volvo XC60 | $2,430 | $203 |
| Volvo XC70 2016 and prior model years | $1,772 | $148 |
| Volvo XC90 | $2,814 | $235 |
Is Volvo car insurance expensive?
Volvo has some of the best car insurance rates of any premium brand. When compared to the top German luxury brands, average Volvo insurance rates are 14.3% cheaper per year than Audi, 15.8% cheaper per year than BMW, and 25.5% cheaper than Mercedes-Benz.
Even when compared to the three major Japanese luxury brands, Volvo insurance cost is 17.4% more than Acura, 6.5% more than Infiniti, and 0.7% more than Lexus.
The chart below shows how Volvo compares to other luxury brands for overall car insurance rates. Volvo is represented by the orange bar on the left at $2,684 per year, while the luxury brands are alphabetical in blue.
The results of the chart prove that Volvo has very good auto insurance rates. Volvo does not have the large number of high-end models like BMW and Mercedes-Benz, so that helps keep rates down. And the renowned safety of the brand is another factor that makes the cost affordable.
The next table does a more complete comparison of Volvo car insurance cost, by including mainstream non-luxury U.S., Japanese, and Korean brands.
| Automotive Brand | Insurance Cost | Difference |
|---|---|---|
| Volvo | $2,684 | -- |
| Acura | $2,255 | -$429 |
| Audi | $3,098 | $414 |
| BMW | $3,145 | $461 |
| Cadillac | $2,579 | -$105 |
| Chevrolet | $2,427 | -$257 |
| Ford | $2,500 | -$184 |
| Genesis | $2,866 | $182 |
| GMC | $2,495 | -$189 |
| Honda | $2,174 | -$510 |
| Hyundai | $2,370 | -$314 |
| Infiniti | $2,515 | -$169 |
| Jaguar | $2,954 | $270 |
| Jeep | $2,620 | -$64 |
| Kia | $2,314 | -$370 |
| Land Rover | $3,141 | $457 |
| Lexus | $2,664 | -$20 |
| Lincoln | $2,650 | -$34 |
| Mazda | $2,294 | -$390 |
| Mercedes-Benz | $3,469 | $785 |
| Mitsubishi | $2,329 | -$355 |
| Nissan | $2,483 | -$201 |
| Porsche | $3,655 | $971 |
| Subaru | $2,282 | -$402 |
| Tesla | $2,909 | $225 |
| Toyota | $2,458 | -$226 |
| Volkswagen | $2,239 | -$445 |
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Insurance cost is averaged for all models for the 2024 model year for each automobile manufacturer. Updated October 24, 2025
Insurance for a Volvo does tend to be more expensive than brands like Chevrolet, Ford, Honda, and Toyota. But that’s to be expected when you compare the average sticker price for those brands versus a Volvo.
Volvo holds it’s own as one of the cheapest premium brands to insure.
What are the cheapest Volvos to insure?
For the 2024 model year, drivers will see the cheapest Volvo car insurance quotes on the Volvo XC40, which is a small luxury SUV costing $2,416 per year to insure on average.
Ranking second for cheapest insurance rates, the Volvo XC60 costs an average of $2,430 per year to insure.
Those two models and an additional three round out the top five cheapest Volvo vehicles to insure shown in the list below.
Cheapest Volvo vehicles to insure for 2024
- Volvo XC40 – (small luxury SUV) Average insurance cost of $2,416 per year
- Volvo XC60 – (small luxury SUV) Average insurance cost of $2,430 per year
- Volvo C40 – (small luxury SUV) Average insurance cost of $2,502 per year
- Volvo V90 – (midsize luxury SUV) Average insurance cost of $2,558 per year
- Volvo V60 – (midsize luxury SUV) Average insurance cost of $2,808 per year