- A Volvo V40 is cheaper to insure than the average car.
- Liability car insurance for a V40 averages about $74 monthly, while full coverage normally comes in at around $104 a month.
- The most affordable insurance company for a V40 is MetroMile, who offers liability only coverage for sometimes as little as $30 per month, on average.
In This Article
The Volvo V40 is a great car for drivers on a budget, with base prices starting at just $25,700 for 2004 models.
We sifted through thousands of auto insurance quotes on Compare.com, and we've found that average Volvo V40 car insurance premiums run about $80 monthly. How do insurance rates for the V40 compare to prices of other similar cars?
|Current Base Price||$25,700|
|Average Insurance Premium||$80/mo.|
|Cheapest Insurance Company||MetroMile|
How Much is Car Insurance for a Volvo V40?
|Vehicle||Liability Only||Full Coverage|
|All Volvo Models||$74||$148|
|Average Insurance Premium||$81||$169|
You can see in the table above that when you compare the Volvo V40 to other vehicles, insurance rates are more affordable than average. On average, V40 owners will pay around $74 a month for liability insurance, and about $104 per month for full coverage, which has comprehensive and collision coverages in addition to liability (learn more about these different types of insurance with our guide "State Minimum vs. Full Coverage").
Compared to other Volvo models, the V40 is less expensive, with premiums more than 10% lower than the rest of the company's vehicle lineup. Similarly, compared to other vehicles of a similar body style, V40 coverage is more affordable than average, with both liability only and full coverage insurance averaging less expensive prices than other cars.
When compared to all vehicles, regardless of make, model, or body style, the V40 follows a similar pattern of having below average auto insurance premiums.
Who has the Cheapest Car Insurance for a Volvo V40?
|Insurance Company||Average Monthly Premium|
If you're searching for a new auto insurance policy for your Volvo V40, you may be wondering which carrier offers the lowest rates. While prices can vary dramatically from between drivers, MetroMile has the cheapest average rates for liability only coverage, with rates as little as $30 monthly. The next lowest company is Dashers, who offers insurance as cheap as just $31 a month.
The third, fourth, and fifth carriers on the list are Workmens, Sun Coast, and USAA. That being said, just because these five companies offer the lowest average rates doesn't necessarily mean they'll be the cheapest for you.
Auto insurance carriers use a whole range of factors and complex formulas to calculate premiums. By getting quotes from a bunch of auto insurance companies at once, you can rest easy knowing that you're finding the cheapest rate.
What Factors Affect Car Insurance Rates for a Volvo V40?
As we mentioned above, there are a multitude of variables that car insurance carriers take a look at to determine how much they charge you for a policy -- and each carrier weighs different attributes more heavily than others, so there's not a single company that's the lowest for every V40 driver.
Below are just a few of the things auto insurance companies look at and how each one affects your final rate:
|Vehicle Age||Average Monthly Premium|
|Less than 1 Year||No Recent Models|
|2-3 Years||No Recent Models|
|4-5 Years||No Recent Models|
|6-7 Years||No Recent Models|
|8-10 Years||No Recent Models|
|15 Years or Older||$76|
The Volvo V40 has been around for a while, so vehicle age may play a big role in what you end up paying for insurance. Typically, it costs more to insure newer cars because they're worth more, however, as time goes on and V40s continue to depreciate, insurance costs will gradually get lower.
A new Volvo V40 model hasn't been added to the market for over 5 years, so the V40 won't really fit this trend. However, as you can see in the table above, the cheapest Volvo V40s to insure are those that are 11 to 14 years old, while the most expensive models are V40s that are 15 years old or more, on average.
|Age||Average Monthly Premium|
Age is another factor that plays a significant role in how much car insurance carriers will charge you for insurance. As you can see in the table above, drivers under 24 have higher rates than those with more experience on the road. In this case, drivers between 18 and 24 pay $30 more than those 25 or older.
Insurance prices continue to go lower as you get older, with the cheapest age group for V40 drivers being 55-64.
|Gender||Average Monthly Premium|
Did you know women generally pay less for car insurance than men? This is because women are less likely to get speeding tickets and get into accidents, which lowers the chances of an insurance claim. When it comes to V40 drivers specifically, women pay around $68 monthly for auto insurance and men pay about $77.
Where You Live
|State||Average Monthly Premium|
It may be obvious that factors such as how old you are and what vehicle you drive play a role in your car insurance premiums, but you may not realize that where you live can be equally important. Since auto insurance is regulated at the state level, prices differ quite a bit from state to state.
For example, the average Volvo V40 owner in New York pays around $140 a month for liability coverage, while on average, the same driver in California will pay less than half of that price.
Volvo V40 Car Insurance Discounts
No matter your car, your age, or your home state, using as many discounts as possible when it comes to your insurance policy is always important.
Even though all auto insurance companies offer their own unique discounts, there are a few different ones that you'll find with most carriers. These include things like:
- Multi-vehicle discounts for adding more than one car to your auto policy
- Pay-in-full discounts for agreeing to pay your entire policy price at once, rather than in monthly installments
- Defensive driving discounts for drivers who take a defensive driving class through an accredited school or institution
- Vehicle safety discounts for having a vehicle with certain safety features (like anti-lock brakes or air bags) or one with higher than average safety ratings
While these are just a few of the discounts car insurance companies offer, there are countless other ways to save money on you monthly insurance bill.
Even though you don't have control over every variable insurance carriers look at to calculate rates (like some of the ones mentioned above), there are quite a few that you can influence. Below are just a few of the variables you can use to your favor in order to save money on car insurance:
Your Driving Record
|Infractions||Average Monthly Premium|
|Multiple Tickets||Not Enough Data|
You've probably observed ads from insurance companies posting big savings for good drivers. It makes sense that if you get a ticket for speeding or get into a collision, auto insurance prices will get higher. But you still might be left wondering exactly how much these infractions will cost you.
Based on the table above, accidents will usually cost V40 drivers less than tickets, but both will result in a raise in rates. Volvo V40 drivers with a single ticket will pay an average of $101 per month, while drivers with one accident on their record pay about $83 per month (up $9 from the $74/mo. overall average). Those who have multiple kinds of either violation will end up paying even more.
How Much You Drive
|Annual Mileage||Average Monthly Premium|
The total distance you drive annually impacts your car insurance premiums. Those who drive less have fewer opportunities to get into an accident, so they'll usually end up spending less on insurance. In the table above, you can see that Volvo V40 owners who drive between 5,000 and 7,500 miles each year pay about $52 a month for auto insurance, while those who put between 7,500 and 10,000 miles on their cars pay $78.
But if you're one of those drivers who don't put very many miles on your Volvo V40 each year, it may be worth considering usage-based or pay-per-mile insurance. With these kinds of coverage, you pay a small monthly amount, and your final monthly bill is calculated based on how many miles you drove.
How Do Volvo V40s Compare to Other Vehicles?
If you're thinking about purchasing a new car and a Volvo V40 is on your shortlist, you're probably wondering how it compares to other cars. Car insurance is just one cost that's associated with buying a new car, but it's definitely one that's worth thinking about carefully.
Review the table below to see how the Volvo V40 compares:
|Volvo V40||National Average|
|Full Coverage Insurance||$94||$169|
|Average Annual Mileage||11,063||11,617|
As you can see, the Volvo V40 is right on par with the average vehicle price here in the U.S. The national average vehicle MSRP is $30,818, and the V40 comes in close to that at $25,700. A used V40 will be even more affordable, since there hasn't been a new model on the market recently.
Although the purchase price is right in the middle of the spectrum, car insurance rates run slightly below average when compared to other vehicles on the market. Liability insurance for a Volvo V40 is about $8 per month more than average, while full coverage is over $50 cheaper monthly.
When it comes to usage, Volvo V40 drivers are near the national average in annual miles driven, with 11,617 miles every year for all vehicles compared to the V40's 11,063 a year.
Volvo V40 Car Insurance Costs by Model Year
We've gone over many of the things that can have an impact on how much the average driver pays to insure a Volvo V40. If you're in the market for a new car, truck, or SUV and the V40 is on your wishlist, knowing what you can expect to pay can be helpful as you consider your choices.
2004 Volvo V40 Car Insurance
|Liability Only Avg. Premium||$89|
|Full Coverage Avg. Premium||$94|
|Cheapest Insurance Company||Sun Coast - $20/mo.|
On average, drivers who own a 2004 Volvo V40 can expect to pay $89 to $94 per month for liability only and full coverage car insurance, respectively.
Looking for the lowest policy? Sun Coast offered liability only coverage for sometimes as cheap as $20 monthly.
Want to find the best rates? Enter your ZIP code below to get several personalized quotes for free.
2003 Volvo V40 Car Insurance
|Liability Only Avg. Premium||$73|
|Full Coverage Avg. Premium||$108|
|Cheapest Insurance Company||TwentyFirstCentury - $35/mo.|
It costs around $73 per month for liability or $108 for a full coverage policy for the 2003 V40.
We found TwentyFirstCentury offered the cheapest policy, with rates as cheap as $35 a month.
If you want to know exactly how much you can expect to pay for your V40, get free quotes in minutes by just entering your ZIP code below.
2002 Volvo V40 Car Insurance
|Liability Only Avg. Premium||$67|
|Cheapest Insurance Company||Infinity - $26/mo.|
You can expect full coverage for a 2002 Volvo V40 to run about undefined per month, while liability only coverage will average around $67 a month.
Infinity offered the most affordable policy we found, with rates as low as $26 monthly.
If you want more accurate quotes of how much you can expect to pay, just enter your ZIP code below and get several free quotes in minutes.
2001 Volvo V40 Car Insurance
|Liability Only Avg. Premium||$76|
|Full Coverage Avg. Premium||$118|
|Cheapest Insurance Company||MetroMile - $26/mo.|
The average cost to insure a 2001 V40 with liability only coverage is $76 a month, while full coverage runs about $118 per month.
MetroMile has prices as low as just $26 monthly for the 2001 Volvo V40.
If you want to know just how much your premium will be, just enter your ZIP code below and get free quotes in minutes.
2000 Volvo V40 Car Insurance
|Liability Only Avg. Premium||$63|
|Full Coverage Avg. Premium||$85|
|Cheapest Insurance Company||Mercury - $25/mo.|
2000 Volvo V40 drivers can expect to pay an average of $63 per month for liability or $85 for full coverage.
With rates as little as just $25 monthly, Mercury offered the cheapest policy we found.
Interested in what your insurance rate will be? All you need to do is enter your ZIP code below and you'll be on your way to comparing quite a few personalized quotes from the nation's top insurance carriers.
Volvo V40 Insurance FAQs
Is a Volvo V40 expensive to insure?
When compared to the national average of all cars, premiums come in on the cheaper end of the spectrum. Liability insurance runs an average of $74 a month, while full coverage will cost you around $104.
How can I get the best price on car insurance for my Volvo V40?
The only way to be sure you're getting the most affordable price on auto insurance is to regularly shop around and compare quotes from a whole range of companies. A good rule of thumb is to get quotes every 6 months or so. Luckily, sites like Compare.com let you compare prices from lots of carriers at once, meaning you can find the lowest rates (or guarantee you already have the best deal) in just a few minutes.
Does the color of my Volvo V40 affect my insurance rates?
You may have heard the old adage that it costs more to insure a red car, but that's just a myth. There are an array of variables car insurance companies look at when they offer you a premium, but the color of your car isn't one of them.
Do I need to have insurance before I buy a Volvo V40?
Before you can legally drive your new (or new to you) V40 off the dealership lot, you'll need to have a car insurance policy in place. As part of the buying process, some dealerships might offer you an auto insurance policy, but it's best to let your insurance carrier know beforehand.
What car insurance discounts can I get for my Volvo V40?
You will find all sorts of discounts out there for auto insurance. Many of them (like "pay-in-full discounts" and "multi-policy discounts") are more based on you than the vehicle you drive, but if your V40 has safety features like anti-theft systems, airbags, anti-lock brakes, and other features, it may qualify for certain discounts. The only way to be certain is to contact your insurance company and ask about which discounts they offer.