How Much is Volvo XC40 Insurance? – Rates Updated for 2022

Will insurance on a Volvo XC40 fit into your monthly budget? We tally average XC40 insurance rates for the T4 and T5 trim levels and compare them to all other small luxury SUVs to see where it ranks.

Start QuoteCompare XC40 car insurance rates and save on your next policy.

How much does Volvo XC40 insurance cost?

Volvo XC40 insurance rates average $1,466 yearly, or about $122 on a monthly basis. Overall, expect to pay approximately $248 less each year to insure a Volvo XC40 as compared to the average rate for small luxury SUVs, and $101 less per year than the $1,567 national average.

The chart below shows how Volvo XC40 car insurance rates for the 2022 model year fluctuate based on the age of the rated driver and the policy deductibles.

Get Rates in Your AreaWhy is this important?

Chart Data Details: Chart shows average insurance cost for a 2022 Volvo XC40 with safe driver and claim-free discounts applied. Rates are for full-coverage insurance and averaged for all U.S. states and all Volvo XC40 trim levels.Data last updated on August 29, 2022
Volvo XC40 Insurance Cost Summary
Volvo XC40 Insurance Cost by Driver Age and Deductibles
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$2,422$202
$500$2,912$243
$250$3,430$286
30$1,000$1,286$107
$500$1,560$130
$250$1,846$154
40$1,000$1,216$101
$500$1,466$122
$250$1,730$144
50$1,000$1,110$93
$500$1,336$111
$250$1,572$131
60$1,000$1,090$91
$500$1,312$109
$250$1,544$129

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

2022 Volvo XC40 Insurance Cost by Trim Level
Volvo XC40 Trim Level Annual Policy 6-month Policy Per Month
Momentum$1,350$675$113
Momentum AWD$1,386$693$116
R-Design$1,436$718$120
Inscription$1,444$722$120
R-Design AWD$1,464$732$122
Inscription AWD$1,468$734$122
Recharge Plus$1,588$794$132
Recharge Ultimate$1,606$803$134

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are for a 2022 Volvo XC40, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium. Physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on August 29, 2022
Volvo XC40 Insurance Cost by Trim Level

The table below shows average XC40 full coverage car insurance rates for the 2019 through 2022 model years broken down for drivers aged 20 through 60.

Volvo XC40 Insurance Cost for 2019-2022 Models
Model Year Driver Age 20 Age 30 Age 40 Age 50 Age 60
2022$2,912$1,560$1,466$1,336$1,312
2021$2,664$1,414$1,336$1,216$1,196
2020$2,614$1,384$1,308$1,194$1,174
2019$2,684$1,414$1,346$1,228$1,206

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates assume clean driving record and no at-fault accidents. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on August 29, 2022
Volvo XC40 Insurance Cost by Model Year

How does XC40 insurance cost rank?

The Volvo XC40 ranks #3 out of 34 comparison vehicles in the small luxury SUV category. The XC40 costs an average of $1,466 per year to insure for full coverage, while the class average cost is $1,714 annually, a difference of $248 per year.

When average car insurance rates are compared to top-selling vehicles in the small luxury SUV class, the Volvo XC40 costs $88 less per year than the Lexus NX 350, $152 less than the Mercedes-Benz GLC300, $402 less than the BMW X3, and $158 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/Model Insurance Cost Difference
1Acura RDX$1,308-$158
2Cadillac XT4$1,340-$126
3Volvo XC40$1,466--
4Lexus NX 250$1,516$50
5BMW X1$1,520$54
6Lexus NX 350h$1,528$62
7Lexus UX 250h$1,530$64
8Lexus NX 350$1,554$88
9Lexus UX 200$1,558$92
10Lexus NX 450h$1,598$132
11Mercedes-Benz GLB 250$1,602$136
12Land Rover Evoque$1,612$146
13Lincoln Corsair$1,616$150
14Mercedes-Benz GLC300$1,618$152
15Mercedes-Benz GLA250$1,630$164
16Volvo C40$1,632$166
17Volvo XC60$1,640$174
18BMW X2$1,690$224
19Audi Q3$1,712$246
20Mercedes-Benz GLA35 AMG$1,714$248
21Infiniti QX55$1,726$260
22Genesis GV70$1,746$280
23Mercedes-Benz GLA45 AMG$1,766$300
24Audi Q5$1,768$302
25Audi Q4$1,790$324
26Land Rover Defender$1,798$332
27Land Rover Range Rover Velar$1,806$340
28Alfa Romeo Stelvio$1,844$378
29BMW X3$1,868$402
30Porsche Macan$1,932$466
31Jaguar I-Pace$1,974$508
32Jaguar F-Pace$2,026$560
33BMW X4$2,082$616
34Aston Martin DBX$2,772$1,306

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are based on 2022 model year, 40-year-old married male driver with a clean driving record and no at-fault accidents. Safe driver and claim-free discounts are applied to policy premium, which is averaged for all vehicle trim levels. Full coverage physical damage deductibles are $500 and rates are averaged for all U.S. states.Data last updated on August 29, 2022
Insurance Cost Comparison: Volvo XC40 vs Small Luxury SUVs

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 $44,078, the cost to buy a new 2022 Volvo XC40 ranges from $35,195 to $58,150, depending upon trim level and package.

The five models closest in cost to the XC40 are the Lexus NX 350, Lincoln Corsair, Acura RDX, Mercedes-Benz GLB 250, and Lexus NX 350h. The list below shows how those vehicles compare to a 2022 Volvo XC40 both by sticker price and average insurance cost.

  • Compared to the Lexus NX 350 – The 2022 Lexus NX 350 has an average MSRP of $44,100 ($41,550 to $46,650), which is $22 more expensive than the average sticker price for the XC40. Insurance on the XC40 costs an average of $88 less annually than the Lexus NX 350.
  • Compared to the Lincoln Corsair – Having an average purchase price of $43,860 ($36,105 to $50,330), the Lincoln Corsair costs $218 less than the average cost for the XC40. Drivers can expect to pay around $150 more every 12 months to insure the Lincoln Corsair compared to a XC40.
  • Compared to the Acura RDX – The average MSRP for a 2022 Volvo XC40 is $1,672 cheaper than the Acura RDX, at $44,078 compared to $45,750. Insuring a Volvo XC40 compared to the Acura RDX costs an average of $158 more every 12 months.
  • Compared to the Mercedes-Benz GLB 250 – The 2022 Volvo XC40 has an average MSRP that is $2,928 more expensive than the Mercedes-Benz GLB 250 ($44,078 versus $41,150). Full-coverage insurance for the Mercedes-Benz GLB 250 costs an average of $136 more each year than the Volvo XC40.
  • Compared to the Lexus NX 350h – New off the lot, the MSRP for the 2022 Lexus NX 350h averages $3,028 less than the average cost for the XC40 ($41,050 compared to $44,078). Insuring a 2022 Volvo XC40 compared to the Lexus NX 350h costs an average of $62 less 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 $674 per year for a 30-year-old driver and even $450 per year for a 50-year-old driver.
  • Increasing deductibles lowers insurance cost. Raising deductibles from $500 to $1,000 could save around $250 per year for a 40-year-old driver and $490 per year for a 20-year-old driver.
  • Decreasing deductibles costs more money. Lowering deductibles from $500 to $250 could cost an additional $264 per year for a 40-year-old driver and $518 per year for a 20-year-old driver.
  • XC40 insurance for teen drivers is expensive. Average rates for full coverage XC40 insurance costs $5,098 per year for a 16-year-old driver, $4,806 per year for a 17-year-old driver, and $4,508 per year for a 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 $2,248 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 $230 per year when compared to a lower credit rating of 670-739. Conversely, a weak credit rating could cost around $267 more per year.