Car insurance for Volvo

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The national average cost of car insurance is $1,674 per year for a full coverage policy, according to Bankrate’s 2021 study of quoted annual premiums. However, your car insurance premium will vary based on a number of different factors, including your state, driving record and the type of vehicle you drive.

If you drive a Volvo, your car insurance premium could be above or below the national average rate, based on the model. 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 the most up-to-date rates 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 2021 Top Safety Picks by the Insurance Institute for Highway Safety (IIHS), which rates cars 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. You can find blind spot monitoring, forward collision warnings and cross-traffic alerts systems in many new Volvos.

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 Volvo S90 is a sedan that costs around $51,850 for a new model. It 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. 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. 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. 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 $49,900. Like the other Volvo models we reviewed, the XC90 is also named a Top Safety Pick+ by the IIHS. Both trim levels come standard with lane keep assist 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

Volvo features that impact insurance costs

There are a few Volvo features that can impact the cost of car insurance. Most notable may be the brand’s advanced safety equipment and collision avoidance systems. Here are some of the features that may influence the cost of Volvo insurance:

  • Blind spot monitoring: The blind spot monitoring system alerts the driver if another vehicle enters their blind spot when attempting to change lanes.
  • Forward-collision warning: The forward-collision warning system alerts the driver when it senses a potential collision in front of the vehicle and can apply the brakes in an emergency.
  • Rear-collision warnings: If the car’s rear cameras sense a potential rear collision, it automatically activates the hazard lights to alert the driver in the trailing vehicle.
  • Seat belts: Many Volvos are equipped with smart seatbelts, which have electric reversible retractors to place the driver and front passenger seats in the safest position if an accident is imminent.

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. In addition to a liability-only policy, most auto insurance companies offer additional coverage options for more protection.

Drivers who want coverage for their vehicle should consider purchasing a full coverage policy, which includes both collision and comprehensive coverage. Other popular policy add-ons include roadside assistance, accident forgiveness, new car replacement coverage, gap insurance and custom parts and equipment coverage.

Methodology

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.

Written by
Elizabeth Rivelli
Insurance Contributor
Elizabeth has two years of experience writing for insurance domains such as Bankrate.com, The Simple Dollar, Coverage.com and NextAdvisor, among others. In addition to auto insurance, Elizabeth regularly writes about home insurance, renters insurance and life insurance. She also covers industry trends and general insurance education.
Edited by
Insurance Editor