Insuring a Volvo XC40: What to Know in 2025

We compared average rates for the Core trim level up to the Recharge Ultimate model to look at how the XC40 compares to other small luxury SUVs.

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How much does Volvo XC40 insurance cost?

Volvo XC40 insurance rates average $2,356 yearly, or about $196 on a monthly basis. Overall, expect to pay approximately $185 less each year to insure a Volvo XC40 as compared to the average rate for small luxury SUVs, and $135 more per year than the $2,221 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.

Average 2024 Volvo XC40 car insurance premiums for different driver ages and policy deductibles.
Figure 1: Average 2024 Volvo XC40 car insurance premiums for different driver ages and policy deductibles. Rates updated on June 27, 2025.

Get Rates in Your AreaWhy is this important?

Data Methodology: Average premiums are based on a 2024 model year Volvo XC40. Rates assume a clean driving record and no claims or at-fault accidents. Comprehensive and collision coverage is included as well as UM/UIM and medical payments coverage. Premium amounts are averaged across all trim levels.

2024 Volvo XC40 Insurance Cost by Driver Age and Deductibles
Driver Age Policy Deductible Annual Premium Cost Per Month
20-Year-Old$1,000$3,972$331
$500$4,744$395
$250$5,560$463
30-Year-Old$1,000$2,092$174
$500$2,518$210
$250$2,966$247
40-Year-Old$1,000$1,962$164
$500$2,356$196
$250$2,768$231
50-Year-Old$1,000$1,742$145
$500$2,082$174
$250$2,436$203
60-Year-Old$1,000$1,632$136
$500$1,952$163
$250$2,282$190

Data Methodology: Rated driver has no driving violations or at-fault accidents in the prior three years. Uninsured Motorist (UM), Underinsured Motorist (UIM) and medical payments coverages are included. Premium is averaged for all trim levels available for the 2024 Volvo XC40. Updated June 27, 2025

The next table details the average car insurance cost, plus a monthly insurance rate, for each Volvo XC40 model trim level.

2024 Volvo XC40 Insurance Rates by Trim Level
2024 Volvo XC40 Trim Level Annual Premium Cost Per Month
Core$2,174$181
Plus$2,280$190
Ultimate$2,348$196
Recharge Core$2,404$200
Recharge Plus$2,444$204
Recharge Ultimate$2,488$207

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 June 27, 2025

Insurance cost by trim level for a 2024 Volvo XC40 ranging from the Core model at $2,174 per year to the Recharge Ultimate model at $2,488
Insurance cost by trim level for a 2024 Volvo XC40 ranging from the Core model at $2,174 per year to the Recharge Ultimate model at $2,488

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.

Volvo XC40 Insurance Cost by Model Year
Model Year and Vehicle Driver Age 20 Driver Age 40 Driver Age 60
2024 Volvo XC40$4,744$2,356$1,952
2023 Volvo XC40$4,246$2,100$1,732
2022 Volvo XC40$4,136$2,058$1,704
2021 Volvo XC40$3,820$1,888$1,564
2020 Volvo XC40$3,698$1,828$1,516
2019 Volvo XC40$3,732$1,846$1,536

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 June 26, 2025

Average insurance rates for 2019 to 2024 Volvo XC40 models for drivers age 20, 40 and 60
Average insurance rates for 2019 to 2024 Volvo XC40 models for drivers age 20, 40 and 60

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 $2,356 per year to insure for full coverage, while the class average cost is $2,541 annually, a difference of $185 per year.

When average car insurance rates are compared to top-selling vehicles in the small luxury SUV class, the Volvo XC40 costs $8 more per year than the Lexus NX 350, $156 less than the Mercedes-Benz GLC300, $408 less than the BMW X3, and $398 more than the Acura RDX.

The table below shows how average insurance cost for a Volvo XC40 compares to all small luxury SUVs.

Insurance Cost Comparison: Volvo XC40 vs Small Luxury SUVs
Rank Make and Model Annual Premium Difference
1Acura RDX$1,958-$398
2Lexus NX 250$2,072-$284
3Cadillac XT4$2,114-$242
4Lexus NX 350h$2,210-$146
5Lincoln Corsair$2,236-$120
6Mercedes-Benz GLB 250$2,240-$116
7Lexus UX 250h$2,246-$110
8Lexus NX 450h$2,258-$98
9Mercedes-Benz GLA250$2,282-$74
10Mercedes-Benz GLA35 AMG$2,290-$66
11Land Rover Evoque$2,336-$20
12Lexus NX 350$2,348-$8
13Volvo XC40$2,356--
14Volvo XC60$2,370$14
15Alfa Romeo Tonale$2,376$20
16Mercedes-Benz GLA45 AMG$2,388$32
17BMW X1$2,420$64
18Infiniti QX55$2,424$68
19Volvo C40$2,442$86
20BMW X2$2,452$96
21Lexus RZ 450e$2,478$122
22Mercedes-Benz EQB 300$2,492$136
23Mercedes-Benz GLC300$2,512$156
24Mercedes-Benz EQB 350$2,552$196
25Genesis GV70$2,582$226
26Audi Q3$2,596$240
27Audi Q5$2,606$250
28Alfa Romeo Stelvio$2,630$274
29Land Rover Range Rover Velar$2,660$304
30BMW X4$2,712$356
31Audi Q4$2,736$380
32BMW X3$2,764$408
33Genesis GV60$2,848$492
34Porsche Macan$2,894$538
35Jaguar I-Pace$2,926$570
36Land Rover Defender$3,042$686
37Jaguar F-Pace$3,130$774
38Aston Martin DBX$4,562$2,206

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 June 27, 2025

At $2,356 per year, insurance cost for a 2024 Volvo XC40 ranks 13th out of 38 models in the small luxury SUV segment
At $2,356 per year, insurance cost for a 2024 Volvo XC40 ranks 13th out of 38 models in the small luxury SUV segment

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 $66 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 $120 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 $68 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 $8 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 $1,128 per year for a 30-year-old driver and even $690 per year for a 50-year-old driver.
  • Increasing deductibles lowers insurance cost. Raising deductibles from $500 to $1,000 could save around $394 per year for a 40-year-old driver and $772 per year for a 20-year-old driver.
  • Decreasing deductibles costs more money. Lowering deductibles from $500 to $250 could cost an additional $412 per year for a 40-year-old driver and $816 per year for a 20-year-old driver.
  • XC40 insurance for teen drivers is expensive. Average rates for full coverage XC40 insurance costs $8,309 per year for a 16-year-old driver, $8,079 per year for a 17-year-old driver, and $7,299 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 $3,698 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 $370 per year when compared to a lower credit rating of 670-739. Conversely, a weak credit rating could cost around $429 more per year.