Volvo V50 Car Insurance: How Much Should You Expect to Pay?

Quick Facts

• A Volvo V50 is cheaper to insure than the average car.
• Liability only insurance rates for a V50 average about $71 a month, while full coverage typically averages around $131 per month.
• At as little as $33 a month for liability only coverage, Aspire is the most affordable auto insurance company for a V50.

V50 Overview

The Volvo V50 is a great budget-friendly car for drivers of all types, with a base price of just $29,000 for 2011 models. While it is on the affordable end of the spectrum when it comes to overall price point, it's also a smart option for your budget when thinking about your car insurance premiums.

We crunched the numbers on thousands of auto insurance quotes on Compare.com, and we've determined that, on average, Volvo V50 car insurance prices run about $95 per month. But how does that compare to other vehicles on the market?

How Much is Car Insurance for a Volvo V50?

You'll see in the table above that Volvo V50 insurance rates are lower than average. V50 drivers normally pay around $71 monthly for liability insurance, and about $131 a month for full coverage, which has comprehensive and collision coverages in addition to liability (our guide, "State Minimum vs. Full Coverage", can provide more details on the difference between these types of insurance).

When you compare it to other Volvo models, the V50 is less expensive, with prices around 11% lower than the rest of the automaker's vehicle offerings. Compared to offerings from other brands, insurance for a V50 is also more affordable, with liability only insurance premiums coming in about 14% less and 26% less for full coverage.

Overall, they're just more affordable to insure than the average vehicle, regardless of model, make, or body style.

Who has the Cheapest Car Insurance for a Volvo V50?

If you're in the market for a car insurance policy for a Volvo V50, you're probably most interested in which carrier offers the lowest premiums. While there will never be one company that offers the lowest rates for everyone, the lowest average rates for liability only insurance are sometimes just $33 a month from Aspire. With car insurance sometimes as low as $44 per month, StateAuto is the next cheapest auto insurance carrier.

Completing the top 5 carriers are Workmens, Sun Coast, and Acuity. But just because these five companies offer the lowest average rates doesn't necessarily mean they'll be the cheapest carriers for you and your unique insurance profile.

Insurance companies use a wide array of variables and complex formulas to calculate rates. There's only one way to make sure you find the lowest possible rates, and that's by analyzing quotes from a bunch of car insurance carriers.

What Factors Affect Car Insurance Rates for a Volvo V50?

As we mentioned above, there are lots of things that insurance companies reference to determine how much they charge you -- and each company weighs different variables more heavily than others, so there's not a singular carrier that's the cheapest for every V50 driver.

The sections below show multiple factors car insurance carriers use to calculate rates:

Vehicle Age

Volvo has been making the V50 for quite some time, so the car's age may play a big role in how much you'll pay for insurance. Typically, newer cars are going to cost more to insure because they're worth more, but as they get older, insurance costs will gradually decrease.

A new Volvo V50 model hasn't been added to the market for over 5 years, so there isn't data to analyze this trend. However, as you can see in the table above, the cheapest Volvo V50s to insure are those that are 4 to 5 years old, while the most expensive models are V50s that are 6 to 7 and 15 or more years old, on average.

Your Age

How old you are makes a difference in how much you pay for auto insurance. As you can see above, the youngest drivers have higher prices than drivers with more experience. In this case, drivers under 18 pay more than twice as much as those 25 or older.

Car insurance prices continue to get lower as you get older, with drivers aged 65 years and older making up the cheapest age group for the V50.

Your Gender

Men usually pay more for car insurance than women. This is because women are less likely to get speeding tickets and get into accidents, which decreases the chances of an insurance claim. Surprisingly, when it comes to V50 drivers specifically, men pay around 19% less than women a month for auto insurance.

Where You Live

You might think it's common sense that things like how old you are and what vehicle you drive play a role in your insurance premiums, but did you know that where you live can matter just as much? Since car insurance is regulated on the state level rather than nationally, rates can differ quite a bit depending on which state you call home.

For example, the average Volvo V50 owner in New York pays about $192 monthly for liability coverage, while the same driver in California will pay less than half of that price, on average.

Volvo V50 Car Insurance Discounts

Regardless of what state you live in, what car you drive, or how old you are, it's always a smart move to take advantage of as many auto insurance discounts as possible when shopping around for a new policy.

Even though all insurance companies offer their own unique discounts, there are a few different ones that you'll find with most carriers. These include things like:

• Pay-in-full discounts for agreeing to pay your entire policy premium at once, rather than by monthly payments
• Multi-policy discounts for using the same insurance company for both your home and auto insurance
• Multi-car discounts for insuring more than one of your vehicles with the same carrier
• Defensive driving discounts for drivers who take a defensive driving class from an accredited school or institution

But these aren't the only discounts auto insurance companies offer to their customers.

Although you may not be able to control every factor car insurance carriers consider to calculate prices (like some of the ones mentioned above), you can control some of them. Below are just a few of the factors you can use to your advantage when it comes to saving some cash:

Your Driving Record

You've most likely noticed ads from insurance companies offering large discounts for responsible drivers. It should be no surprise that your auto insurance rates will go up if you get into a collision or get tickets. But exactly how much will these infractions cost you?

If you look at the table above, you'll notice that accidents will usually cost V50 drivers more than tickets, but both will result in higher than average rates. Volvo V50 drivers with a single accident on their record pay about $123 every month (up $52 from the $71/mo. overall average), while drivers with one ticket will pay an average of $116 per month. Drivers with more than one of either violation will end up paying even more.

How Much You Drive

The total amount of miles you drive annually plays a big role when it comes to your car insurance premiums. Those who drive less often are less likely to get speeding tickets, so they'll generally be offered lower rates. In the table above, you can see that Volvo V50 owners who drive between 5,000 and 7,500 miles per year pay an average of $58 monthly for insurance, while those who put less than 2,500 miles on their cars pay $86.

If you're one of those drivers who don't put very many miles on your Volvo V50 each year, it may be worth considering usage-based or pay-per-mile auto insurance. With these policies, you pay a small monthly amount, and your final monthly bill is calculated based on how many miles you drove.

How Do Volvo V50s Compare to Other Vehicles?

If you're thinking about making a Volvo V50 your next purchase, you might want to know how it compares to other vehicles. Auto insurance is just one cost that comes with a new car purchase, but it's definitely one that's worth considering.

Visit the table below to see how the Volvo V50 stacks up:

Overall, the Volvo V50 has an average MSRP and is on par with the going rate for a new vehicle. The average vehicle MSRP in the U.S. is $35,020, and the V50 comes in close to that at $29,000. And since it's been a few years since a new V50 model has been on the market, used prices are going to be even less expensive.

But while the purchase price runs about average, car insurance premiums are slightly cheaper when compared to the rest of the vehicle market. Liability insurance for a Volvo V50 is around $4 per month less than average, while full coverage is more than $40 less a month.

However, it is worth noting that the V50 owners tend to drive their cars less than the average American driver, with only 10,284 annual miles for the average owner.

Volvo V50 Car Insurance Costs by Model Year

We've gone over many of the variables that can affect how much you might pay for insurance. If you're considering buying a new V50, having a good idea of exactly what you'll pay can be extremely valuable as you weigh your choices.

2011 Volvo V50 Car Insurance

2011 Volvo V50 drivers can expect to pay an average of $77 per month for liability or $129 for full coverage.

With rates as low as just $36 a month, SafeAuto offered the lowest policy we found.

Interested in exactly how much you'll pay? Enter your ZIP code below to get multiple free customized quotes.

2010 Volvo V50 Car Insurance

On average, drivers who own a 2010 V50 can expect to pay $69 to $190 monthly for liability only and full coverage insurance, respectively.

If you're looking for the lowest possible 2010 Volvo V50 insurance policy, Mercury offered the cheapest policy we found, with rates as little as just $34 per month.

While these are good estimates of what the average driver might pay to insure a 2010 Volvo V50, these premiums might differ based on your driver profile. Just enter your ZIP code below, to get free personalized quotes in minutes.

2009 Volvo V50 Car Insurance

It costs about $70 a month for liability or $118 for a full coverage policy for the 2009 Volvo V50.

We found Good2Go offered the most affordable policy, with rates as low as $233/mo monthly.

If you want to know just how much your price will be, get free quotes in minutes by just entering your ZIP code below.

2008 Volvo V50 Car Insurance

The average cost to insure a 2008 V50 with liability only coverage is $48 a month, while full coverage runs around $146 per month.

Looking for the cheapest policy? Elephant offered liability only coverage for sometimes as cheap as $31 monthly.

If you want more accurate quotes of how much you can expect to pay, just enter your ZIP code below and get free quotes in minutes.

2007 Volvo V50 Car Insurance

You can expect full coverage for a 2007 Volvo V50 to run about $114 a month, while liability only coverage will average around $73 per month.

With prices as cheap as $29 monthly, Workmens offered the most affordable policy we found for the 2007 Volvo V50.

Want to figure out exactly what you'll be asked to pay? Get a variety of personalized quotes for free by just entering your ZIP code below.

2006 Volvo V50 Car Insurance

2006 V50 drivers can expect to pay an average of $61 a month for liability or $107 for full coverage.

StateAuto offered the lowest policy we found, with rates as cheap as just $26 per month.

If you want to find the best premiums for car insurance for a 2006 Volvo V50, enter your ZIP code below and compare many personalized quotes in just a few minutes.

2005 Volvo V50 Car Insurance

On average, drivers who own a 2005 Volvo V50 can expect to pay $85 to $138 monthly for liability only and full coverage insurance, respectively.

Mercury has prices sometimes as little as $25 a month for the 2005 Volvo V50.

These average rates are a great starting point if you're in the market for a 2005 Volvo V50, but there are a wide array of different things that go into calculating your policy rates. If you want to figure out exactly what you'll be asked to pay, get customized quotes by entering your ZIP below.

Volvo V50 Insurance FAQs

Is a Volvo V50 expensive to insure?

The Volvo V50 is less expensive to insure compared to the average vehicle. Liability insurance runs an average of $71 monthly, while full coverage will cost you around $131.

How can I get the best price on car insurance for my Volvo V50?

There's only one way to be confident you're getting the cheapest rates -- checking prices regularly and comparing quotes from a multitude of carriers. It's recommended to review quotes every 6 months or so. Luckily, sites like Compare.com let you compare premiums from a range of companies at once, meaning you can find the lowest rates (or guarantee you already have the best deal) for free.

Does the color of my Volvo V50 affect my insurance rates?

You may have heard the old adage that red cars cost more to insure than cars of other colors, but that's simply not true. Even though there are several factors car insurance carriers use when they calculate how much you'll pay, your vehicle's color is not factored into that equation.

Do I need to have insurance before I buy a Volvo V50?

You'll need to have valid auto insurance for your Volvo V50 before you can legally drive your it off the dealership lot. As part of the buying process, some dealerships might offer you an auto insurance policy, but the best thing to do when buying a a new car is to talk with your insurance company beforehand.

What car insurance discounts can I get for my Volvo V50?

There are many different discounts out there for auto insurance. Many of them (like "multi-policy discounts" and "pay-in-full discounts") are more based on you than the car you drive, but if your V50 has safety features like airbags, anti-lock brakes, anti-theft systems, and other features, it may qualify for certain discounts. You'll only know about which discounts you qualify for if you contact your insurance carrier and ask about their discounts, since they vary quite a bit from carrier to carrier.