Best Volvo Car Insurance Rates in 2024

Volvo insurance rates are usually a little higher than the national average. It might cost more to insure your Volvo than a standard car as you are purchasing luxury car insurance, but you’ll pay less when you compare Volvo car insurance rates than you would for other luxury brands like Lincoln, Mercedes-Benz, and BMW.

Read on to learn more about Volvo car insurance rates, including where to start your search. Then compare Volvo car insurance quotes to find the best policy for your vehicle.

Cost of Volvo Car Insurance

How much does Volvo car insurance cost? The average luxury car insurance policy can be significantly higher than standard coverage, but Volvos are generally affordable. The average driver pays about $148 a month for Volvo insurance, though several factors can affect your rates. Insurance companies look at the following factors when crafting your rates:

• ZIP code
• Age and gender
• Driving record
• Your vehicle
• Credit score
• Marital status

Of course, the amount of coverage you want to buy will also impact your rates. For example, you’ll pay much less if you buy the minimum car insurance required by your state than you would for full coverage (learn about minimum car insurance requirements by state). Although full coverage costs more, many Volvo drivers choose to buy it to better protect their cars.

Another factor to keep in mind is the model you buy. Some Volvo models cost much more to insure than others. Check below to see how much you might pay for Volvo insurance based on the model you buy.

Volvo Average Monthly Car Insurance Rates by Model and Coverage Type

The Volvo XC60 is one of the cheapest models to buy, with rates lower than some standard cars. Contrary to Volvo XC60 insurance costs, the Volvo S90 has some of the highest insurance rates. While there are many reasons luxury car insurance costs more, it’s primarily because they cost more to repair or replace. A new Volvo S90 is one of Volvo’s most expensive models, which leads to higher repair and replacement costs.

Compare Volvo Car Insurance Rates by Model for Tailored Coverage

Explore the varying insurance rates for Volvo models, including the Volvo 850, Volvo S60, Volvo S90 Recharge, Volvo V60 Recharge, Volvo XC40 Recharge, and Volvo XC90 Recharge. This concise comparison will assist you in making an informed decision about the insurance costs associated with different Volvo car models.

Types of Volvo Car Insurance

What types of insurance should you buy for a Volvo? Volvo drivers usually buy one of two main types of policies — minimum insurance and full coverage car insurance. Minimum insurance is the least amount of insurance your state requires before you can register your car or drive on a public road. It’s your cheapest option for insurance, but it doesn’t cover your vehicle.

The best Volvo car insurance is full coverage, as the best full coverage car insurance offers much better protection for your car but can cost up to three times as much as minimum insurance. It’s never required by law, but drivers usually need it when they have a car loan or lease.

Most states require liability insurance before you can drive. If you buy full coverage, you’ll get the following coverage:

• Liability: Liability auto insurance coverage ensures any damage or injuries you cause in an at-fault accident. It never covers your car or medical expenses.
• Collision: If you want your insurance to help with your car repairs after an at-fault accident, you need collision car insurance.
• Comprehensive: If your car is damaged by floods, fire, animals, extreme weather, vandalism, or theft, comprehensive car insurance pays for your repairs.
• Uninsured/underinsured motorist: While most states require car insurance before you can drive, some drivers are underinsured. Uninsured/underinsured motorist coverage pays for your health care expenses and car repairs if someone without coverage hits you.
• Medical payments/personal injury protection: Medical bills can get expensive quickly after an accident. Medical payments and personal injury protection insurance pay for health care expenses for you and your passengers.

Volvo drivers often buy more coverage beyond the basic types listed above. Popular add-ons for Volvos include rental car reimbursement, roadside assistance, and gap insurance. However, you should always make sure you need extra coverage before buying it. Adding extra coverage can significantly increase your rates. (For more information, read our “How do I find out if GAP insurance is included in my car lease?“).

Tips to Save on Your Volvo Auto Insurance

Volvo insurance rates usually match the national average, so many drivers feel there’s nothing else to save. However, there are plenty of ways to save on your insurance, even when your rates start low. To find the lowest rates for your Volvo, consider the following methods:

• Increase your deductible. Insurance companies allow drivers to choose their car insurance deductible, usually in amounts between $500 and $2,000. Higher deductibles will lower your car insurance rates, but you’ll have to pay more if you need to make a claim.
• Look for discounts. Insurance companies offer car insurance discounts to help drivers save money. Looking at how many discounts a company offers is an essential step in picking the right place to buy a policy.
• Enroll in telematics. Usage-based auto insurance programs help safe drivers save on their insurance. If you regularly speed, drive late at night, or put a lot of miles on your car, you should skip this option.
• Keep your car safe. Cars with safety devices like GPS tracking and audible alarms get lower insurance quotes. Learn more about safety features car insurance discounts.
• Keep your driving record clean. Drivers pay more for insurance when they have incidents on their driving record. In fact, a single speeding ticket can increase your rates by 25% because car insurance companies check driving records.
• Lower your coverage. Drivers with older Volvos might benefit from lowering the coverage in their policy. An insurance representative can help you decide how much coverage you need.

While the tips above will help you save, comparing quotes is the best way to find affordable Volvo car insurance rates. Companies look at the same factors but use unique formulas to craft rates. Estimating which company will have the cheapest Volvo car insurance rates for you without getting a personalized quote is challenging.

Find the Best Volvo Insurance Today

As a brand known for safety and technology, Volvo drivers tend to enjoy lower rates than many other luxury brands. Some models — including the XC60 — have lower insurance rates than some standard cars. Others cost more but have lower insurance rates than comparable luxury vehicles.

Although Volvo insurance rates are affordable, you’re not stuck with the first Volvo car insurance quote you find. There are plenty of ways to save on your Volvo insurance, but one of the most important is to compare Volvo car insurance rates. You’ll likely overpay for your car insurance if you don’t compare car insurance quotes from as many companies as possible.