In 2021, Volvo sold 122,173 cars in the U.S., an increase of nearly 11% from 2020. Volvo offers safe and reliable cars, and in more recent years, the company has put several electric vehicles on the road.

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Volvo is in the luxury marketplace, and the vehicles have a higher price tag than many other cars, which may contribute to the increased cost of Volvo insurance. The U.S. national average full coverage car insurance policy costs $1,674 per year (based on 2021 data), and there was only one Volvo model Bankrate studied that had below-average rates.

To give you a sense of the cost of car insurance for Volvos, we received sample quotes for some of the brand’s most popular models:

  • Volvo S90
  • Volvo V60
  • Volvo XC60
  • Volvo XC90

How much does it cost to insure a Volvo?

Bankrate’s insurance editorial team found that the average car insurance rate in the U.S. is $1,674 per year using 2021 rates analyzed from Quadrant Information Services. In addition to personal and insurance-specific factors, insurance costs will depend on your vehicle’s specific make and model. The car insurance company you choose can also impact your rate, as every carrier charges a different rate for the same makes and models.

Here are some of the biggest factors that can impact the cost of Volvo insurance:

  • Crash rate stats per make/model: Volvo has a long-standing reputation for building safe vehicles. In fact, many recent Volvo models were named 2022 Top Safety Picks by the Insurance Institute for Highway Safety (IIHS), which assesses vehicles based on crash tests and safety features. Safe cars are generally cheaper to insure.
  • Price of parts: In terms of repairs and the price of parts, Volvos generally tend to be more expensive. Some parts may need to be imported from overseas and pricier parts typically mean higher insurance premiums, as the claim would entail a higher payout.
  • Safety features: Newer Volvo models are equipped with many advanced safety features that can reduce the risk or severity of a crash. For example, you can get blind spot monitoring that alerts the driver if another vehicle enters their blind spot when attempting to change lanes. Some models have forward collision warnings, which automatically apply the brakes in an emergency. Many new Volvo models are also equipped with a cross-traffic alert system, rear-collision warning system and smart seatbelts, which have electric reversible retractors to place the driver and front passenger seats in the safest position if an accident is imminent.

Car insurance for a Volvo: by model

As mentioned, the cost of auto insurance for Volvos is largely based on the model. In addition, personal factors like your history of tickets and annual mileage will also impact your rate. Whether you currently own a Volvo or are thinking about buying one, the sample quotes below can help you better understand what you might pay to insure some of the top models.

Car insurance for Volvo S90

The 2022 Volvo S90 is a sedan that starts at $52,850 for a new model. There is also an electric version, called the S90 Recharge, which starts at $60,050 MSRP. The base model S90 comes with all the bells and whistles, like integrated Google Maps, Google Assistant and a state-of-the-art sound system. It was also named a Top Safety Pick+ by the IIHS. Because the Volvo S90 is a luxury vehicle, the cost of a full coverage insurance policy will likely be above average. The table below includes the average full coverage and minimum coverage insurance premium for this model:

Volvo S90 car insurance Average annual premium
Minimum coverage $484
Full coverage $2,089

Car insurance for Volvo V60

The Volvo V60 is a luxury wagon with an MSRP of $40,950 for the standard model. Volvo also makes the plug-in V60 Recharge hybrid, which costs $67,300. This car is highly rated for safety and was named a Top Safety Pick+ by the IIHS for both the standard and Recharge model. The V60 is equipped with performance features, like off-road drive mode and hill descent control. It also has a variety of advanced safety features. Here are the average full coverage and minimum coverage premiums for the Volvo V60:

Volvo V60 car insurance Average annual premium
Minimum coverage $475
Full coverage $1,786

Car insurance for Volvo XC60

The Volvo XC60 is the cheapest model to insure, based on our sample rates. It is a mid-size SUV with an MSRP of $42,650 for the base model and $54,250 for the Recharge model. The Volvo XC60 earned the Top Safety Pick+ badge from the IIHS and comes with safety technology like blind spot monitoring, a backup camera and forward collision alerts. It also has a hands-free display with built-in Google Play and an optional Bowers & Wilkins sound system. In the table below, you can see the average rates for Volvo XC60 insurance based on our sample rate data:

Volvo XC60 car insurance Average annual premium
Minimum coverage $468
Full coverage $1,623

Car insurance for Volvo XC90

The Volvo XC90 is one of the brand’s most popular models. It is a full-size SUV with a starting cost of $50,900 for the standard model and $64,800 for the Recharge model. Like the other Volvo models we reviewed, the standard model and Recharge model XC90 were also named a Top Safety Pick+ by the IIHS. The XC90 comes in several trim levels, which all come standard with lane keep assist, blind spot monitoring and other systems designed to reduce the risk of accidents. Here are the average rates for minimum coverage and full coverage insurance for the Volvo XC90:

Volvo XC90 car insurance Average annual premium
Minimum coverage $456
Full coverage $1,891

Cheapest car insurance companies for Volvos

Every insurance provider will charge a different rate for the same car make and model. If you are looking for an affordable premium, we identified five of the best car insurance companies that offer cheap rates for Volvos based on sample rate data.

Average annual premium for full coverage by model

Car insurance company Volvo S90 Volvo V60 Volvo XC60 Volvo XC90
Amica $1,601 $1,368 $1,238 $1,479
Erie $1,558 $1,393 $1,530 $1,503
Geico $1,606 $1,370 $1,269 $1,394
State Farm $1,787 $1,487 $1,384 $1,772
USAA $1,381 $1,396 $1,228 $1,413

Other car insurance coverage for a Volvo

Every Volvo owner is required to carry at least a minimum amount of car insurance if they live in a state where auto insurance is required, which is in most states. A minimum coverage policy comes with bodily injury and property damage insurance, and may also include uninsured and underinsured motorist coverage, and personal injury protection (PIP) or medical payments, depending on the state’s car insurance laws.

In addition to a liability-only policy, most auto insurance companies offer additional coverage options for more protection. Adding endorsements to your car insurance policy will increase your premium, but it can lower your out-of-pocket expenses in an at-fault accident.

Drivers who want extra coverage for their Volvo should consider purchasing a full coverage policy, which includes collision coverage, comprehensive coverage and possibly medical payments coverage. Here is a closer look at what these policies cover:

  • Collision insurance: Collision insurance pays for vehicle repairs following an at-fault accident. If your vehicle is totaled and your policy covers the claim, collision reimburses you based on your car’s actual cash value (ACV).
  • Comprehensive insurance: Comprehensive insurance helps pay for vehicle repairs following a non-collision incident, such as a fire, flood, vandalism or theft. It also provides compensation based on your car’s ACV if your vehicle is totaled from a covered claim.
  • Medical payments insurance: If you or a passenger gets injured in an accident, your medical payments coverage may pay for your medical bills up to the coverage limit.

Other policy add-ons include roadside assistance, accident forgiveness, new car replacement coverage, gap insurance and custom parts and equipment coverage:

  • Roadside assistance: Roadside assistance is offered by most insurance companies. It covers the cost of towing (up to a certain distance), fuel delivery, flat tire changes, battery replacement and related services.
  • Accident forgiveness: Accident forgiveness will prevent your insurance rate from increasing after your first accident. However, some insurance carriers require drivers to be claim-free for a certain number of years before they can add this coverage.
  • New car replacement coverage: If your car gets totaled in a covered accident, new car replacement insurance will pay for a new one of a similar make and model.
  • Gap insurance: Volvo owners who lease or finance their car may want to consider gap insurance, which covers the difference between the car’s diminished value and the remaining loan balance if the car gets totaled.
  • Custom parts and equipment insurance: If you have custom parts installed in your Volvo, like an aftermarket sound system, this coverage will pay to replace it if your car gets damaged in a covered claim.


Bankrate utilizes Quadrant Information Services to analyze 2021 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

  • $100,000 bodily injury liability per person
  • $300,000 bodily injury liability per accident
  • $50,000 property damage liability per accident
  • $100,000 uninsured motorist bodily injury per person
  • $300,000 uninsured motorist bodily injury per accident
  • $500 collision deductible
  • $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2019 Volvo of the following model types, commute five days a week and drive 12,000 miles annually:

  • Volvo S90
  • Volvo V60
  • Volvo XC60
  • Volvo XC90

These are sample rates and should only be used for comparative purposes.