About Volvo Car Insurance
The Volvo brand is known for its safety, which is a quality that corresponds with lower car insurance premiums. Before comparing car insurance rates with MyChoice, we want you to review the information below to understand your coverage options and approximate pricing ballpark.
How Much Does it Cost to Insure Your Volvo in Canada?
It costs around $1,288 per year to insure your Volvo in Canada. The price will vary depending on your Volvo model, year make, region you live in, and driving history.
Here’s how much it would cost you on average to insure your Volvo in the following cities in Canada:
| City | Average Annual Insurance Premium |
|---|---|
| Barrie, ON | $1,562 |
| St, Catharines, ON | $1,391 |
| Toronto, ON | $2,141 |
| Mississauga, ON | $2,317 |
| Calgary, AB | $1,513 |
| Red Deer, AB | $1,338 |
| Montreal, QC | $801 |
| Gatineau, QC | $552 |
| Corner Brook, NL | $1,119 |
| Moncton, NB | $909 |
| Halifax, NS | $1,326 |
How Volvo Car Insurance Costs Compare to Similar Vehicle Brands
When selecting a vehicle, many potential buyers often weigh the insurance rates of different brands, including Volvo, against each other. Insurance costs can significantly influence the decision-making process.
Based on our internal quote data, our analysis shows that Volvo’s insurance costs are moderate compared to other luxury car brands. While Volvo’s rates are higher than those of Lexus and Mercedes, they are lower than the insurance costs for BMW and Audi. This positions Volvo as a mid-range option for buyers considering insurance expenses, premium features, and reliability.
Volvo Car Insurance Rates Through The Years
In the past seven years, Volvo vehicle insurance rates have fluctuated, with a general upward trend in premiums. While some decreases were in certain years, the overall trend indicates rising costs. The average insurance rate across all Volvo models currently stands at $1,288, reflecting a gradual increase in premiums over the years.
Volvo Car Insurance Rates by Model & Year Make
When insuring your Volvo, the model you choose significantly impacts the insurance rates. Our detailed analysis below provides a comprehensive view of the insurance costs for various Volvo models from different years.
A Brief History of Volvo
The Sweden-based Volvo company finished the production of its first car on April 14th, 1927. The founders, Assar Gabrielsson and Gustaf Larsson, made quality and safety their trademarks from the beginning, a principle that still sets Volvo apart today.
By May 1932, Volvo had already produced 10,000 cars, and there was a high demand for a more affordable “people’s vehicle.” Thus the smaller, less expensive PV 51 model was born in 1936.
Volvo’s production boomed after World War II with the PV444 and PV544 stylish and compact models, which helped Volvo break into the US market over the following decade.
In 1959, Volvo pioneered a vital step in car safety when the Amazon and PV544 models began to feature three-point safety belts. Safety continued to be the leading principle of Volvo in the following years, with innovations that became universal such as rear-facing child seats, crumple zones, collapsible steering columns, and side collision protection.
Most Popular Volvo Vehicles
Over the years, the Volvo brand has evolved, keeping up with contemporary trends in the car industry, such as electric and hybrid cars. Check out some of the most popular modern Volvo models below.
Volvo Insurance FAQs
How much does it cost to insure a Volvo?
The average annual car insurance rate for a Volvo in Canada is $1,288. The price will vary depending on your Volvo model, year make, region you live in, and driving history.
How much does it cost to insure a Volvo XC90?
It costs around $1,024 annually to insure a 2024 Volvo XC90 model.
Which Volvo model is the cheapest to insure in Canada?
According to MyChoice’s internal data, the cheapest Volvo model to insure in Canada is a 2023 XC90 model at $992 per year.