Volvo XC40 vs. Lexus NX 350 Insurance – Which is the Cheapest?

• At an average rate of $1,910 per year, a 2024 Lexus NX 350 has more affordable car insurance rates than a 2024 Volvo XC40 by an average of $6 per year.
• Out of 38 models in the 2024 small luxury SUV automotive segment, the Volvo XC40 ranks 13^th and the Lexus NX 350 ranks 12^th for most affordable car insurance.
• When compared to the average cost to insure a vehicle in the U.S. of $1,883 per year, the Volvo XC40 costs an average of $27 more per year, while the Lexus NX 350 costs an average of $21 more per year.

Is Volvo XC40 or Lexus NX 350 insurance cheaper?

Average car insurance rates for a 2024 Volvo XC40 are $1,910 per year, and insurance for a 2024 Lexus NX 350 averages $1,904 per year, making the Lexus NX 350 the model with better average insurance cost.

For the six trim levels available for the 2024 Volvo XC40, the cheapest trim to insure is the Core trim at an average cost of $1,762 per year.

For the four trim levels available for the Lexus NX 350, the cheapest 2024 trim to insure is the AWD model at a cost of $1,842.

When rates for all 10 trim levels for both 2024 models are compared, the lowest-cost model and trim is the Volvo XC40 Core at a cost of $1,762 per year, and the most expensive model and trim level is the Volvo XC40 Recharge Ultimate costing $2,014 per year.

The table shown below compares and ranks the annual and monthly car insurance cost for 2024 Volvo XC40 and Lexus NX 350 models, broken down by individual trim level.

The rate chart below demonstrates the average cost to insure both 2024 models for drivers from age 20 to 50. For a 2024 Volvo XC40, insurance cost ranges from $1,690 to $3,842 per year for the included driver ages. A 2024 Lexus NX 350 costs from $1,682 to $3,856 to insure per year.

The rate tables below illustrate the cost to insure the available trim levels for both 2024 models, plus the average rate for each model. The model with cheapest car insurance rates for 2024 is the Lexus NX 350.

2023 Volvo XC40 vs. Lexus NX 350

For new XC40 and NX models, the model with the cheapest average car insurance rates is the Volvo XC40. Insurance on the Volvo XC40 averages $1,704 per year, while insurance for a Lexus NX 350 averages $1,856 per year.

Out of nine Volvo XC40 trims, the cheapest 2023 trim level to insure is the Core model at an average cost of $1,552 per year. Out of the four trims available for the Lexus NX 350, the cheapest 2023 trim level to insure is the AWD model at a cost of $1,790.

When all 13 trims of both models are combined and compared, the overall cheapest vehicle to insure is the Volvo XC40 Core at a cost of $1,552 per year. The highest-cost model and trim is the Lexus NX 350 Luxury AWD at an average cost of $1,910 per year.

The table shown below compares the annual and monthly car insurance cost for 2023 Volvo XC40 and Lexus NX 350 models, with average rates for each trim level.

The rate chart below displays the average cost to insure both 2023 models with different ages of drivers. Average car insurance cost ranges from $1,494 to $3,442 per year for a 2023 Volvo XC40, and $1,640 to $3,766 for a 2023 Lexus NX 350 for these driver ages.

The tables shown below show trim level insurance rates for each 2023 model, including an overall average rate.

2022 Volvo XC40 vs. Lexus NX 350

For 2022, the model with the cheapest average insurance rates is the Volvo XC40. Average insurance rates for the Volvo XC40 are $1,668 per year, whereas insurance for the Lexus NX 350 costs an average of $1,766 per year.

For the Volvo XC40, average insurance rates range from $1,536 per year for the Momentum model up to the most expensive rate of $1,828 for the Recharge Ultimate model.

For 2022 Lexus NX 350 models, rates range from $1,746 per year on the AWD model up to $1,784 on the F Sport Handling AWD model.

The table shown below compares and ranks the annual and monthly cost of car insurance for 2022 Volvo XC40 and Lexus NX 350 models, with average rates for every trim level for each model.

The following chart displays the average car insurance cost for both 2022 models with different driver age groups. For a 2022 Volvo XC40, insurance cost ranges from $1,472 to $3,350 per year for the age groups included in the chart. Auto insurance on a 2022 Lexus NX 350 costs from $1,562 to $3,590 on average per year.

For the eight trim levels available for the 2022 Volvo XC40, the cheapest trim level to insure is the Momentum trim at an average cost of $1,536 per year, or around $128 per month.

For the two option levels available for the Lexus NX 350, the cheapest 2022 trim level to insure is the AWD trim at a cost of $1,746.

When trim-level rates for both models are compared, the lowest-cost model and trim level to insure is the Volvo XC40 Momentum at an average of $1,536 per year. The most expensive model and trim level is the Volvo XC40 Recharge Ultimate at an average of $1,828 per year.

The tables shown below display the cost to insure the available trim levels for both 2022 models, including an overall average rate.

Additional Volvo XC40 and Lexus NX 350 Resources

• Volvo XC40 Insurance Cost
• Lexus NX 350 Insurance Cost
• Small Luxury SUV Insurance Cost Comparisons