Annual full coverage insurance costs for a Volvo XC40 range from $1,139 to $6,919. Rates vary based on the car's model year, driver age, location, driving history, coverage level and insurer. MoneyGeek breaks down XC40 insurance costs and coverage, offering insights into the best and most affordable insurers.
Volvo XC40 Insurance Cost
Key Takeaways
State Farm provides the most affordable minimum coverage across all Volvo XC40 model years at $431 annually.
Volvo XC40 drivers pay an average of $577 per year for minimum coverage and $1,611 for full coverage.
MoneyGeek analyzed data and 1,793 Volvo XC40 insurance quotes from Quadrant Information Services to provide these insights.
Volvo XC40 Insurance Rates
What Is the Average Volvo XC40 Car Insurance Cost?
For a Volvo XC40, full coverage insurance costs about $134 monthly or $1,611 annually, based on a 40-year-old male with a clean driving record. Minimum coverage averages $48 per month or $577 per year.
| Minimum Coverage | $577 |
| Full Coverage | $1,611 |
Read more: Average Cost of Car Insurance
Volvo XC40 Insurance Costs by Company
Volvo XC40 insurance costs range from $1,167 to $2,756 annually, depending on age, model year and coverage level. The table below shows how these rates compare to averages for all vehicles from several national and midsize providers.
| Allstate | $2,009 | $1,808 | 11% |
| Auto-Owners | $1,309 | $1,226 | 7% |
| Farmers | $2,373 | $1,952 | 22% |
| GEICO | $1,192 | $1,332 | -11% |
| Kemper | $2,756 | $2,207 | 25% |
| Nationwide | $1,594 | $1,587 | 0% |
| Progressive | $1,444 | $1,743 | -17% |
| State Farm | $1,246 | $1,268 | -2% |
| Travelers | $1,223 | $1,522 | -20% |
| USAA | $1,167 | $1,199 | -3% |
Read more: Best Car Insurance Companies
Cost of Insuring a Volvo XC40 by Model Year
Older Volvo XC40 models typically cost less to insure. A 2022 model has an annual full coverage rate of $1,750, while a 2019 model costs $1,471. Below are the average full and minimum coverage rates for each production year.
| 2022 | $585 | $1,750 |
| 2021 | $589 | $1,612 |
| 2020 | $584 | $1,487 |
| 2019 | $590 | $1,471 |
Volvo XC40 Insurance Costs by Driver Age
Volvo XC40 insurance rates vary widely depending on the driver's age. For example, 16-year-olds pay around $6,919 annually for full coverage compared to $1,613 that 40-year-olds pay. Below are the average full and minimum coverage rates for drivers of different ages.
| 16 | $2,649 | $6,919 |
| 17 | $2,168 | $5,627 |
| 18 | $1,900 | $4,996 |
| 19 | $1,359 | $3,588 |
| 20 | $1,223 | $3,273 |
| 21 | $971 | $2,646 |
| 22 | $887 | $2,438 |
| 23 | $824 | $2,281 |
| 24 | $782 | $2,172 |
| 25 | $687 | $1,925 |
| 26 | $670 | $1,895 |
| 27 | $653 | $1,849 |
| 28 | $642 | $1,818 |
| 29 | $633 | $1,790 |
| 30 | $611 | $1,717 |
| 35 | $593 | $1,651 |
| 40 | $587 | $1,613 |
| 45 | $581 | $1,585 |
| 50 | $567 | $1,533 |
| 55 | $552 | $1,487 |
| 60 | $552 | $1,482 |
| 65 | $589 | $1,537 |
| 70 | $640 | $1,640 |
| 75 | $711 | $1,796 |
| 80 | $804 | $1,988 |
| 85 | $868 | $2,132 |
| 90 | $916 | $2,231 |
Volvo XC40 Insurance Rates Explained
Driver profiles affect car insurance rates, but vehicle-related factors also play a role. Below is a breakdown of how your car's features influence insurance costs.
Volvo XC40 Rates vs. National Average
All Vehicles
Average Full Coverage Rate
$1,296Volvo XC40
Average Full Coverage Rate
$1,611Premiums for Volvo XC40 are:$315 more
This is 24% more expensive.
Value
The Volvo XC40's $50,595 MSRP classifies it as a luxury SUV, which may result in higher insurance premiums.
Performance
The Volvo XC40's 6.1-second 0-to-60 time and 247 horsepower may lead to higher insurance costs despite not being a high-performance vehicle.
Vehicle age
Newer Volvo XC40s are typically more expensive to insure than older models.
Safety features
Safety features like stability control, airbags and antilock brakes can qualify the Volvo XC40 for insurance discounts.
Vehicle size
The Volvo XC40's compact size and 3,806-lb curb weight may help keep insurance costs lower than larger vehicles.
Trim level
Higher trim levels of the Volvo XC40, with premium upgrades, cost more to insure than the base model.
Cheapest Volvo XC40 Insurance
State Farm offers the lowest minimum coverage insurance for a Volvo XC40 at $431 per year, based on a 40-year-old male driver with a clean record. Below is a breakdown of the cheapest car insurance by coverage level, age group, driving record and model year.
Cheapest Volvo XC40 Insurance by Coverage Level
Choosing the right coverage level can greatly affect your Volvo XC40 insurance rate. State Farm offers the cheapest average minimum coverage cost, while GEICO provides the most affordable full coverage. Below is a breakdown of the cheapest providers for both types.
Cheapest Volvo XC40 Minimum Coverage
State Farm offers the cheapest minimum coverage for a Volvo XC40 at $36 per month. Other affordable options include GEICO at $41, Travelers at $42 and Progressive at $49.
| State Farm | $36 | $431 |
| USAA | $37 | $438 |
| GEICO | $41 | $488 |
| Travelers | $42 | $504 |
| Progressive | $49 | $592 |
| Allstate | $56 | $671 |
| Nationwide | $57 | $682 |
| Farmers | $58 | $700 |
Best Volvo XC40 Insurance Rates by Model Year
Because the above list doesn't account for the production year, lower rates may be available depending on your vehicle's age. Filter the table below to find the cheapest minimum coverage rates for every Volvo XC40 model year.
Data filtered by:Results filtered by:
Select
Model Year:2019
| Allstate | $686 | $57 |
| Farmers | $678 | $57 |
| GEICO | $492 | $41 |
| Nationwide | $666 | $56 |
| Progressive | $605 | $50 |
| State Farm | $452 | $38 |
| Travelers | $517 | $43 |
| USAA | $453 | $38 |
*USAA is available only to military veterans, active service members and their families.
Cheapest Full Coverage Volvo XC40 Insurance
GEICO offers the most affordable full coverage for a Volvo XC40 at $1,197 annually or $100 monthly. See the full list of providers and rates below.
| USAA | $95 | $1,139 |
| GEICO | $100 | $1,197 |
| Travelers | $101 | $1,214 |
| State Farm | $102 | $1,223 |
| Progressive | $119 | $1,433 |
| Nationwide | $126 | $1,509 |
| Allstate | $162 | $1,947 |
| Farmers | $185 | $2,222 |
*On average, GEICO is the cheapest insurer for non-military-affiliated Volvo XC40 owners seeking full coverage. For military-affiliated drivers, USAA is the most affordable option.
Cheapest Volvo XC40 Insurance by Age
Younger drivers aged 16 to 25 and seniors aged 55 and up often pay more for Volvo XC40 insurance. Below is a breakdown of the cheapest options by age group.
Cheapest Volvo XC40 Insurance for Young Drivers
For Volvo XC40 drivers aged 16 to 25, State Farm offers the most affordable insurance at $941 annually or $78 monthly for minimum coverage. Below is the complete list of the cheapest car insurance options for young adults.
| USAA | $76 | $911 |
| State Farm | $78 | $941 |
| Travelers | $86 | $1,031 |
| GEICO | $94 | $1,131 |
| Allstate | $123 | $1,478 |
| Progressive | $145 | $1,736 |
| Nationwide | $152 | $1,825 |
| Farmers | $154 | $1,844 |
*State Farm is the cheapest insurer for young non-military-affiliated drivers. USAA is the most affordable option for military-affiliated drivers.
Cheapest Volvo XC40 Insurance for Seniors
State Farm offers the cheapest car insurance for seniors aged 55 and up at $39 monthly or $474 annually. See the full list of affordable Volvo XC40 insurers below.
| State Farm | $39 | $474 |
| GEICO | $48 | $573 |
| USAA | $48 | $580 |
| Travelers | $50 | $599 |
| Progressive | $61 | $732 |
| Allstate | $66 | $797 |
| Nationwide | $67 | $805 |
| Farmers | $79 | $947 |
Cheapest Volvo XC40 Insurance After an Accident
For Volvo XC40 drivers, State Farm, Travelers and GEICO offer the most affordable car insurance after an accident. Check out the full list below for more options.
| State Farm | $45 | $543 |
| USAA | $55 | $663 |
| Travelers | $59 | $703 |
| GEICO | $64 | $762 |
| Allstate | $76 | $917 |
| Progressive | $78 | $939 |
| Nationwide | $88 | $1,053 |
| Farmers | $116 | $1,388 |
Volvo XC40 Insurance Cost: Bottom Line
Compare rates from different providers to find the most affordable car insurance. This article breaks down Volvo XC40 insurance costs and highlights the cheapest providers.
Volvo XC40 Insurance Rates: FAQ
Below are answers to common questions about the cost of insuring a Volvo XC40.
What company has the cheapest car insurance for a Volvo XC40?
State Farm offers the cheapest insurance for a Volvo XC40, with an annual minimum coverage rate of $431.
What is the average cost of car insurance for a Volvo XC40?
The average annual insurance cost for a Volvo XC40 is $577 for minimum coverage and $1,611 for full coverage.
Volvo XC40 Insurance Ratings: Our Review Methodology
MoneyGeek analyzed data and 1,793 Volvo XC40 insurance quotes from Quadrant Information Services.
Drivers and Cars
MoneyGeek used a sample driver profile with the following characteristics to calculate the average rates for insuring a Volvo XC40:
- 40-year-old male
- Clean driving record
- 12,000 miles driven annually
We also modified the sample driver profile to determine Volvo XC40 insurance rates for different age groups, driving records and model years. MoneyGeek collected data for the following model years:
- 2012
- 2013
- 2014
- 2015
- 2016
- 2017
- 2018
- 2019
- 2020
- 2021
- 2022
If data on specific model years wasn't available, our data scientists estimated rates based on how insurers typically price car models each year. The published rates are estimates and may not reflect the rate you'll receive for your Volvo XC40.
Coverage Levels
Each state differs in minimum coverage requirements, so our rates are a combination of minimum coverage policies in the states where we gathered our data.
MoneyGeek’s analysis includes average full coverage policy rates with comprehensive and collision coverage (with a $1,000 deductible) and increased liability limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $100,000 property damage liability per accident
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.