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Volvo auto insurance: what you need to know.

One of the most important factors to consider when shopping for a new car is how much you’ll pay for insurance. If you happen to be eyeing a Volvo, you’re in luck. The Volvo brand is known for one quality that’s correlated with better car insurance premiums: safety.

Volvo’s reputation for safety isn’t just marketing spin. Independent safety agencies, such as the Insurance Institute for Highway Safety in the United States (IIHS), the National Highway Traffic Safety Administration (NHTSA), and the European New Car Assessment Programme (NCAP), regularly award Volvo models very high safety ratings.

While you might think that Volvo’s reputation automatically means that automobile insurance for a Volvo is cheaper than for other kinds of cars, it’s not that simple. There are a number of other factors that come into play.

We’ll go over many of the things that can impact automobile insurance rates, as well as the different kinds of insurance you can get when buying a Volvo.

Your questions about Volvo auto insurance rates, answered.

How much does car insurance cost for a Volvo?

A multitude of variables determine how much you pay for car insurance. The car model you choose is one of them. We’ve run sample quotes for two of Volvo’s best-selling models so you can get an idea of how much you might pay. 

We’ve also included analysis of the vehicles' build quality from the IIHS and NHTSA. All prices are in Canadian dollars.

Volvo S60 Sedan

Estimated Premium

Driver infoCar make + modelLowest premium quotedHighest premium quoted
Female, 30, Ontario2020 Volvo S60 Inscription T6 4DR AWD$129.42/month$380.42/month
Male, 30, Ontario2020 Volvo S60 Inscription T6 4DR AWD$132.67/month$396.92/month

About the Volvo S60

  • The Volvo S60 Sedan was selected as an IIHS Top Safety Pick every year since 2010, with the exception of 2019.
  • In 2019, the IIHS dinged the S60 for its headlights, along with sub-par ratings for its child seat anchors.
  • The NHTSA awarded the S60 five stars across the board between 2012 and 2017. Models released in 2018 and later have yet to be rated by the NHTSA.
  • A Volvo S60 can range between $42,400 and $53,900 depending on the trim and model.

 

Volvo XC60 Hatchback

Estimated Premium

Driver infoCar make + modelLowest premium quotedHighest premium quoted
Female, 30, Ontario2020 Volvo XC60 Inscription T6 4DR AWD$110.83/month$331.67/month
Male, 30, Ontario2020 Volvo XC60 Inscription T6 4DR AWD$113.83/month$346.25/month

About the Volvo XC60 Hatchback

  • The Volvo XC60 Hatchback has been selected by the IIHS as a top safety pick every year since 2010. This indicates that the XC60 has maintained a superb level of safety for almost a decade. The 2019 XC60 earned Good ratings across almost all categories. Where it fell short was in its headlights, which were given an acceptable or marginal rating depending on the make of the vehicle. The vehicle also received an acceptable rating for the ease of use of its child seat anchors.
  • While the NHTSA awarded the XC60 four and five stars across the board, it’s important to note that models beyond the year 2018 have not been tested and rated by the organization.
  • A Volvo XC60 can range in price from $46,350 to $89,150 depending on the model and trim.

How auto insurance quotes for Volvos cars are calculated

Beyond the car you drive, your personal driving history, as well as your age and gender, and your postal code, have a major impact on how much you pay each month for car insurance.

In order to run quotes through our tool to show you might pay in premiums for two of Volvo's most popular models, we had to create user personas: one male and one female.

Here are the criteria we used:

  • We ran separate quotes for a 30-year-old man and a 30-year-old woman in Ontario.
  • We used the postal code for the LowestRates.ca office in midtown Toronto.
  • We chose the 2020 model for each car.
  • Our personas have been insured continuously since receiving their license.
  • They drive an average of 40 km per day.
  • We’ve only selected the bare minimum when it comes to insurance coverage (third-party liability insurance).
  • We didn’t apply for any discounts.
  • We indicated that the car has winter tires.
  • We also indicated that the car is parked in a private garage.

Other factors that influence your auto insurance rate

  • Driving record - The worse your driving record is, the worse your rate will be given it indicates the likelihood you will get in an accident. A serious conviction, like a DUI, could increase your rates up 100% while a lesser conviction, such as distracted driving, could raise your rates around 25%.
  • Type of auto insurance - The more comprehensive the coverage you buy, the higher your premium will be.
  • Age - Age is also a good indicator of your driving abilities and will affect your rates. Based on statistics, insurers know that the more years driving means less chance of an accident. Rates do rise slightly, though, once you’ve reached 75 years old since your ability to drive may be impaired by your health.
  • Area - Where you live can affect your rate. For example, if you live in an urban area your rates will likely be higher due to a higher probability of theft and getting into an accident than in a rural area.

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