Volvo Cars is a Swedish auto manufacturer that markets a line of sedans and SUVs in the U.S. The brand has a long-standing reputation for safety and innovation in the automotive industry. Since these luxury automobiles are often more valuable than other choices on the lot, they require specialized insurance considerations.
No matter what type of Volvo you drive, you’ll need the best car insurance you can find to protect your investment. Our Volvo insurance guide provides average insurance cost information by model and top-rated insurance company. With the help of a local independent insurance agent, you can get quotes from multiple companies so you can get the coverage you need that fits your budget. But first, here's a breakdown of Volvo insurance and why it's important.
Key Takeaways - Volvo Car Insurance
- Volvos may require more coverage than other vehicles due to their unique parts and various features.
- Volvo is actually less expensive to insure, on average, than other luxury car brands.
- The Volvo V60 is the most expensive model to insure, costing an average of $2,866 per year, or approximately $239 per month.
- Volvo's numerous safety features can help you earn car insurance discounts to substantially reduce your premiums.
- Working with an independent insurance agent is highly recommended, as they can tailor a policy to meet the coverage needs of your unique Volvo model.
What Is Volvo Insurance?
Volvo insurance is a type of auto insurance for Volvo cars. A Volvo car insurance policy is likely to include many of the same types of coverage that you would find in a standard auto insurance policy.
Recommended coverage options for Volvo drivers:
- Collision insurance: This pays for damage to your car from a collision with another object, regardless of fault.
- Comprehensive insurance: This pays for damage to your car due to a non-collision event, such as a flood or theft.
- Liability insurance: This covers the cost of lawsuits and other expenses related to bodily injury or personal property damage you cause to third parties with your vehicle.
- Medical payments coverage: This covers the cost of your injuries and injuries to your passengers after an accident, regardless of fault.
- Personal injury protection: This covers the cost of your injuries and injuries to your passengers, as well as lost wages after an accident, regardless of fault.
- Uninsured/underinsured motorist insurance: This covers expenses after an accident involving a driver who is uninsured or underinsured, or after a hit-and-run.
- Towing and roadside assistance coverage: This covers the cost of professional towing and roadside assistance services if you break down on the side of the road.
Depending on where you live, some of these types of coverage may be required by law. An independent insurance agent can help you build a complete Volvo auto insurance policy.
Do Volvo Vehicles Cost More to Insure?
Actually, Volvos tend to cost less, on average, to insure than many other luxury car brands. This could be partly due to the brand's advanced safety technology, which reduces the risk of accidents and breakdowns that car insurance companies would otherwise have to cover with claims. This may be good news if you've been wondering, "Are Volvos expensive to insure?"
These vehicles also tend to be less expensive to repair than other luxury car brands, and it can be easier to replace genuine Volvo parts. However, keep in mind that your Volvo insurance rates will vary depending on the specific model you drive, your personal claims history, and other factors.
Average Cost of Volvo Insurance by Model and Year
Many factors influence car insurance costs, including the car’s make and model. The cost to insure a Volvo is no different, as Volvo models have varying car insurance premiums depending on their unique characteristics. We compared quotes for some popular Volvo models to give you an idea of how much each one costs to insure.
| Model | Cost to Insure Per Year | Cost to Insure Per Month |
|---|---|---|
| Volvo XC90 | $2,072 | $173 |
| Volvo XC60 | $1,856 | $155 |
| Volvo S60 | $2,204 | $184 |
| Volvo S90 | $2,814 | $234 |
| Volvo V60 | $2,866 | $239 |
An independent insurance agent near you can help you find affordable car insurance for whatever type of Volvo you drive.
What Other Factors Affect Volvo Car Insurance Costs?
Many factors can influence the cost of Volvo insurance coverage, including your claims history and driving record. The make and model of your car are two of the most important factors for determining your car insurance premiums. However, all of the following can impact the cost of Volvo car insurance:
- Your age, gender, and marital status
- Your credit score
- Your location
- Your claims history
- The coverage and deductible amounts you choose
Every auto insurance company has its own proprietary method for calculating insurance rates, which is why you’ll see a range of premiums for the same make and model. But most companies also offer a wide range of car insurance discounts that can help you save money on your car insurance premiums. An independent insurance agent can help you find the best rates and Volvo car insurance discounts near you.
Add-On Protections Worth Considering for Your Volvo
The standard protections included in a typical car insurance policy might not provide sufficient coverage for your Volvo. It's helpful to at least consider the following types of Volvo add-on insurance when building your policy.
- New car replacement coverage: This can cover the cost of replacing your vehicle with another of the same model if your car is stolen or totaled due to a covered cause within the first year of ownership.
- Accident forgiveness coverage: This coverage can help you avoid facing higher car insurance premiums after you get into an accident.
- OEM parts coverage: This coverage can pay to replace your vehicle's parts with genuine Volvo parts during the repair process. OEM insurance is essential for Volvo drivers who want to maintain the integrity of their vehicles.
- Gap insurance for new Volvo leases: This can cover the gap between the amount still owed on a loan or lease for a new vehicle and what your insurance pays out for your car after a total covered loss.
- Volvo extended warranty insurance: This can extend your Volvo's manufacturer warranty to cover future repairs, where available.
You might also want to inquire about glass and windshield coverage for Volvo driver-assist sensors, if your vehicle includes this feature. An independent insurance agent can help you get equipped with all the add-on coverage you need to fully protect your unique Volvo.
Special insurance considerations for EV and hybrid Volvo models
If you own one of Volvo's electric or hybrid models, such as the Volvo XC40 Recharge, the Volvo C40 Recharge, the Volvo EX30, or the Volvo EX90, you might need to inquire about additional coverage. These vehicles may require more complex repairs than other Volvo models and carry an increased risk of battery replacement. Be sure to ask your independent insurance agent about Volvo electric car insurance, or Volvo Recharge insurance, if you own an EV or hybrid model.
How to Reduce Your Volvo Car Insurance Costs
While Volvo car insurance tends to be less expensive than coverage for other luxury vehicle brands, there are still methods available to help you reduce your premiums, such as:
- Bundling home and auto insurance: Many car insurance companies offer bundling discounts if you buy more than one type of coverage from them, such as homeowners insurance and auto insurance. These savings can earn you a discount of up to 20% or more on each coverage.
- Increasing your policy's deductible: Setting a higher deductible amount on your Volvo car insurance policy can lead to a lower premium rate. However, keep in mind that you'll have to pay more out of pocket when you file a claim.
- Asking about safety features discounts: Volvo safety features insurance discounts are common, given that these vehicles often come with advanced safety technology installed. If your Volvo has City Safety, Pilot Assist, Collision Avoidance, Lane Keep Aid, or any other safety feature, you may qualify for additional savings on your coverage.
- Enlisting in safe driving or telematics programs: Taking a safe driver course or agreeing to sign up for a telematics program through your insurer to monitor your driving habits can lead to substantial savings on your auto insurance.
An independent insurance agent can help you find and apply all the Volvo insurance discounts you qualify for to reduce your premiums as much as possible.
Best Car Insurance Companies for Volvo Owners
When shopping for car insurance, it's helpful to know where to find top-quality coverage from trusted carriers. Volvo car insurance providers provide the best luxury car coverage, OEM parts guarantees, and claims satisfaction. The following are our top picks for the best Volvo insurance companies, and are those that Volvo Car Insurance Services partners with.
| Car Insurance Company | Overall Carrier Star Rating |
|---|---|
| Nationwide |
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| Travelers |
|
| Progressive |
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| The Hartford |
|
An Independent Insurance Agent Can Help You Get the Best Volvo Insurance Quotes
You can save the most money on Volvo insurance by working with an independent insurance agent in your area. Independent agents can compare Volvo insurance coverage and quotes from multiple insurance companies, allowing you to choose the one that’s best for your needs and budget.
Your agent will also help you maximize the discounts that you can apply to your premium, getting you the best possible rate. And down the road, your agent will still be there to help you file car insurance claims or update your coverage when necessary.
FAQs About Volvo Car Insurance
Is Volvo expensive to insure?
No, compared to other luxury car brands, Volvo is not expensive to insure. However, the cost of coverage for a Volvo tends to be more expensive, on average, than for non-luxury vehicles.
Does Volvo insurance include OEM parts coverage?
Yes, as long as your specific policy has this coverage added. Work with an independent insurance agent to be certain your Volvo car insurance policy includes coverage for the replacement of OEM parts.
What's the cheapest Volvo model to insure?
We found that the Volvo XC90 is the cheapest model to insure, costing an average of $2,072 per year, or about $173 per month.
Do safety ratings lower Volvo insurance premiums?
Yes, Volvo's excellent safety ratings and features can help lower car insurance premiums.
Sources
https://www.volvocars.com/us/l/insurance-services/
https://www.thezebra.com/auto-insurance/vehicles/volvo/