How Much is Volvo XC40 Insurance? – Rates Updated for 2021

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.

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How much does Volvo XC40 insurance cost?

Volvo XC40 insurance rates average $1,346 yearly, or about $112 on a monthly basis. Overall, expect to pay approximately $270 less each year to insure a Volvo XC40 as compared to the average rate for small luxury SUVs, and $177 less per year than the $1,523 national average.

The chart below shows how Volvo XC40 car insurance rates for the 2021 model year fluctuate based on the age of the rated driver and the policy deductibles.

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Chart Data Details: Chart shows average insurance cost for a 2021 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.
Volvo XC40 Insurance Cost Summary
Volvo XC40 Insurance Cost by Driver Age and Deductibles
Driver Age Deductible Annual Cost Monthly Cost
20$1,000$2,240$187
$500$2,684$224
$250$3,150$263
30$1,000$1,184$99
$500$1,428$119
$250$1,684$140
40$1,000$1,122$94
$500$1,346$112
$250$1,582$132
50$1,000$1,026$86
$500$1,228$102
$250$1,438$120
60$1,000$1,006$84
$500$1,206$101
$250$1,412$118

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

2021 Volvo XC40 Insurance Cost by Trim Level
Volvo XC40 Trim Level Annual Policy 6-month Policy Per Month
T4 2WD$1,346$673$112
T5 AWD$1,346$673$112

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Table Data Details: Average rates are for a 2021 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.
Volvo XC40 Insurance Cost by Trim Level

The table below shows average XC40 full coverage car insurance rates for the 2019 through 2021 model years broken down for drivers aged 20 through 60.

Volvo XC40 Insurance Cost for 2019-2021 Models
Model Year Driver Age 20 Driver Age 30 Driver Age 40 Driver Age 50 Driver Age 60
2021$2,684$1,428$1,346$1,228$1,206
2020$2,618$1,390$1,314$1,196$1,176
2019$2,674$1,412$1,342$1,224$1,202

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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.
Volvo XC40 Insurance Cost by Model Year

How does XC40 insurance cost rank?

The Volvo XC40 ranks #3 out of 25 comparison vehicles in the small luxury SUV category. The XC40 costs an average of $1,346 per year to insure for full coverage, while the class average cost is $1,616 annually, a difference of $270 per year.

When average car insurance rates are compared to top-selling vehicles in the small luxury SUV class, the Volvo XC40 costs $202 less per year than the Lexus NX 300, $210 less than the Mercedes-Benz GLC300, $382 less than the BMW X3, and $70 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$1,276-$70
2Cadillac XT4$1,320-$26
3Volvo XC40$1,346--
4Lincoln Corsair$1,488$142
5Lexus UX 250H$1,500$154
6Volvo XC60$1,516$170
7Lexus UX 200$1,534$188
8Mercedes-Benz GLB 250$1,534$188
9BMW X1$1,538$192
10Lexus NX 300$1,548$202
11Mercedes-Benz GLC300$1,556$210
12Land Rover Defender$1,598$252
13Mercedes-Benz GLA250$1,604$258
14Land Rover Evoque$1,624$278
15BMW X2$1,634$288
16Audi Q3$1,678$332
17Audi Q5$1,688$342
18BMW X3$1,728$382
19Lexus NX 300H$1,738$392
20Mercedes-Benz GLA45 AMG$1,758$412
21Alfa Romeo Stelvio$1,776$430
22BMW X4$1,800$454
23Jaguar F-Pace$1,822$476
24Jaguar I-Pace$1,880$534
25Porsche Macan$1,918$572

Get Rates in Your AreaWhy is this important?

Table Data Details: Average rates are based on 2021 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.
Insurance Cost Comparison: Volvo XC40 vs Small Luxury SUVs

Additional Rates and Information

  • Fewer accidents means cheaper Volvo XC40 insurance. At-fault accidents raise insurance rates, potentially up to $622 per year for a 30-year-old driver and even $424 per year for a 50-year-old driver.
  • Increasing deductibles lowers insurance cost. Raising deductibles from $500 to $1,000 could save around $224 per year for a 40-year-old driver and $444 per year for a 20-year-old driver.
  • Decreasing deductibles costs more money. Lowering deductibles from $500 to $250 could cost an additional $236 per year for a 40-year-old driver and $466 per year for a 20-year-old driver.
  • XC40 insurance for teen drivers is expensive. Average rates for full coverage XC40 insurance costs $4,750 per year for a 16-year-old driver, $4,468 per year for a 17-year-old driver, and $4,186 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 $2,090 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 $211 per year when compared to a lower credit rating of 670-739. Conversely, a weak credit rating could cost around $245 more per year.