- Volvo XC40 insurance cost averages $2,416 per year, $1,208 for a 6-month policy, or $201 per month, for full coverage insurance.
- The XC40 ranks 13th out of 38 vehicles in the small luxury SUV class for insurance affordability.
How much does Volvo XC40 insurance cost?
Volvo XC40 insurance rates average $2,416 yearly, or about $201 on a monthly basis. Overall, expect to pay approximately $187 less each year to insure a Volvo XC40 as compared to the average rate for small luxury SUVs, and $140 more per year than the $2,276 national average.
The chart below shows how Volvo XC40 car insurance rates for the 2024 model year fluctuate based on the age of the rated driver and the policy deductibles.
The next table details the average car insurance cost, plus a monthly insurance rate, for each Volvo XC40 model trim level.
| 2024 Volvo XC40 Trim Level | Annual Premium | Cost Per Month |
|---|---|---|
| Core | $2,230 | $186 |
| Plus | $2,336 | $195 |
| Ultimate | $2,406 | $201 |
| Recharge Core | $2,464 | $205 |
| Recharge Plus | $2,506 | $209 |
| Recharge Ultimate | $2,550 | $213 |
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500 and UM/UIM and medical payments coverages are included. Updated October 24, 2025
The table below shows average XC40 full coverage car insurance rates for the 2019 through 2024 model years broken down for drivers aged 20 through 60.
| Model Year and Vehicle | Driver Age 20 | Driver Age 40 | Driver Age 60 |
|---|---|---|---|
| 2024 Volvo XC40 | $4,858 | $2,416 | $2,000 |
| 2023 Volvo XC40 | $4,354 | $2,154 | $1,772 |
| 2022 Volvo XC40 | $4,238 | $2,108 | $1,744 |
| 2021 Volvo XC40 | $3,914 | $1,932 | $1,600 |
| 2020 Volvo XC40 | $3,792 | $1,872 | $1,554 |
| 2019 Volvo XC40 | $3,822 | $1,890 | $1,572 |
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500 and UM/UIM and medical payments coverages are included. Premiums are averaged for all Volvo XC40 trim levels for each model year. Updated October 24, 2025
How does XC40 insurance cost rank?
The Volvo XC40 ranks 13th out of 38 comparison vehicles in the small luxury SUV category. The XC40 costs an average of $2,416 per year to insure for full coverage, while the class average cost is $2,603 annually, a difference of $187 per year.
When average car insurance rates are compared to top-selling vehicles in the small luxury SUV class, the Volvo XC40 costs $10 more per year than the Lexus NX 350, $156 less than the Mercedes-Benz GLC300, $414 less than the BMW X3, and $410 more than the Acura RDX.
The table below shows how average insurance cost for a Volvo XC40 compares to all small luxury SUVs.
| Rank | Make and Model | Annual Premium | Difference |
|---|---|---|---|
| 1 | Acura RDX | $2,006 | -$410 |
| 2 | Lexus NX 250 | $2,124 | -$292 |
| 3 | Cadillac XT4 | $2,166 | -$250 |
| 4 | Lexus NX 350h | $2,264 | -$152 |
| 5 | Lincoln Corsair | $2,292 | -$124 |
| 6 | Mercedes-Benz GLB 250 | $2,296 | -$120 |
| 7 | Lexus UX 250h | $2,300 | -$116 |
| 8 | Lexus NX 450h | $2,314 | -$102 |
| 9 | Mercedes-Benz GLA250 | $2,340 | -$76 |
| 10 | Mercedes-Benz GLA35 AMG | $2,348 | -$68 |
| 11 | Land Rover Evoque | $2,396 | -$20 |
| 12 | Lexus NX 350 | $2,406 | -$10 |
| 13 | Volvo XC40 | $2,416 | -- |
| 14 | Volvo XC60 | $2,430 | $14 |
| 15 | Alfa Romeo Tonale | $2,434 | $18 |
| 16 | Mercedes-Benz GLA45 AMG | $2,446 | $30 |
| 17 | BMW X1 | $2,476 | $60 |
| 18 | Infiniti QX55 | $2,482 | $66 |
| 19 | Volvo C40 | $2,502 | $86 |
| 20 | BMW X2 | $2,510 | $94 |
| 21 | Lexus RZ 450e | $2,542 | $126 |
| 22 | Mercedes-Benz EQB 300 | $2,554 | $138 |
| 23 | Mercedes-Benz GLC300 | $2,572 | $156 |
| 24 | Mercedes-Benz EQB 350 | $2,614 | $198 |
| 25 | Genesis GV70 | $2,642 | $226 |
| 26 | Audi Q3 | $2,660 | $244 |
| 27 | Audi Q5 | $2,670 | $254 |
| 28 | Alfa Romeo Stelvio | $2,694 | $278 |
| 29 | Land Rover Range Rover Velar | $2,726 | $310 |
| 30 | BMW X4 | $2,780 | $364 |
| 31 | Audi Q4 | $2,800 | $384 |
| 32 | BMW X3 | $2,830 | $414 |
| 33 | Genesis GV60 | $2,918 | $502 |
| 34 | Porsche Macan | $2,962 | $546 |
| 35 | Jaguar I-Pace | $3,000 | $584 |
| 36 | Land Rover Defender | $3,114 | $698 |
| 37 | Jaguar F-Pace | $3,206 | $790 |
| 38 | Aston Martin DBX | $4,672 | $2,256 |
Data Methodology: Rated driver is a 40-year-old married male with no driving violations or at-fault accidents in the prior three years. Comprehensive and collision deductibles are $500 and UM/UIM and medical payments coverages are included. Premiums are averaged for all trim levels for each vehicle from the 2024 model year. Updated October 24, 2025
Comparing the average cost of car insurance on a Volvo XC40 to compact luxury SUV models with similar average prices gives additional insight into how average rates compare within the segment.
With an average MSRP of $51,387, the cost to buy a new 2024 Volvo XC40 ranges from $41,495 to $59,995, depending upon trim level and package.
The five models closest in cost to the XC40 are the Mercedes-Benz GLA35 AMG, Lincoln Corsair, Land Rover Evoque, Infiniti QX55, and Lexus NX 350. The list below shows how those vehicles compare to a 2024 Volvo XC40 both by sticker price and average insurance cost.
- Compared to the Mercedes-Benz GLA35 AMG – The 2024 Mercedes-Benz GLA35 AMG has an average MSRP of $50,200 ($47,950 to $52,450), which is $1,187 cheaper than the average sticker price for the XC40. Insurance on the XC40 costs an average of $68 more annually than the Mercedes-Benz GLA35 AMG.
- Compared to the Lincoln Corsair – Having an average purchase price of $49,211 ($38,730 to $62,600), the Lincoln Corsair costs $2,176 less than the average cost for the XC40. Drivers can expect to pay around $124 less every 12 months to insure the Lincoln Corsair compared to a XC40.
- Compared to the Land Rover Evoque – The average MSRP for a 2024 Volvo XC40 is $2,188 cheaper than the Land Rover Evoque, at $51,387 compared to $53,575. Insuring a Volvo XC40 compared to the Land Rover Evoque costs an average of $20 more every 12 months.
- Compared to the Infiniti QX55 – The 2024 Volvo XC40 has an average MSRP that is $3,096 cheaper than the Infiniti QX55 ($51,387 versus $54,483). Full-coverage insurance for the Infiniti QX55 costs an average of $66 more each year than the Volvo XC40.
- Compared to the Lexus NX 350 – New off the lot, the MSRP for the 2024 Lexus NX 350 averages $3,450 less than the average cost for the XC40 ($47,938 compared to $51,387). Insuring a 2024 Volvo XC40 compared to the Lexus NX 350 costs an average of $10 more annually.
Additional Rates and Information
We covered a lot of concepts in the prior data, so the list below makes some summary points plus expands on some of the earlier concepts.
- Fewer accidents means cheaper Volvo XC40 insurance. At-fault accidents raise insurance rates, potentially up to $1,156 per year for a 30-year-old driver and even $704 per year for a 50-year-old driver.
- Increasing deductibles lowers insurance cost. Raising deductibles from $500 to $1,000 could save around $406 per year for a 40-year-old driver and $792 per year for a 20-year-old driver.
- Decreasing deductibles costs more money. Lowering deductibles from $500 to $250 could cost an additional $420 per year for a 40-year-old driver and $838 per year for a 20-year-old driver.
- XC40 insurance for teen drivers is expensive. Average rates for full coverage XC40 insurance costs $8,515 per year for a 16-year-old driver, $8,283 per year for a 17-year-old driver, and $7,479 per year for an 18-year-old driver.
- High-risk drivers pay much more for XC40 insurance. For a 20-year-old driver, having too many driving record violations or accidents could trigger a rate increase of $3,794 or more per year.
- Bring up your credit score to save money. In states that have regulations allowing a policyholder’s credit score to be used for policy pricing purposes, drivers who have credit scores over 800 could save a minimum of $379 per year when compared to a lower credit rating of 670-739. Conversely, a weak credit rating could cost around $440 more per year.