Volvo v40 insurance group and cost

The Volvo V40 is a hatchback vehicle manufactured by the Swedish manufacturer between 2012-2019. It’s still available as an affordable second-hand family car. In this guide, you’ll discover the key facts about insuring a Volvo V40.

Volvo v40 insurance groups and cost by driver’s age

With car insurance, all car makes and models are assigned an insurance group ranging from 1 (the cheapest) to 50 (the most expensive). The difference in insurance groups is based on numerous factors such as the engine size and performance, the car’s security and safety features and it’s current market value. Volvo v40 models range from insurance groups 17 to 35, so the price of your car insurance might vary quite a bit.

For example, a 30-year-old driver in an average postcode could pay around £659 for cover on a D2 (120bhp) Momentum 5d (insurance group 17), or around £743 for a Volvo v40 T5 (245bhp) R DESIGN Nav 5d Geartronic which falls in insurance group 28. In this example, the difference in price is £102 which is no surprise as the engine break horse power is just over double with the Volvo v40 T5 (245bhp) R DESIGN Nav 5d Geartronic.

You can find the insurance group, and likely premium cost, of your Volvo v40 model in the table below.

• How we got these rates

  These rates are based on the average cost of cover for cars in the insurance groups shown, for drivers of different ages with a Newcastle (NE1) postcode, which our research suggests represents an average for insurance rates in the UK. Updated: June 2024 (source: Confused).

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Average Volvo v40 insurance cost

To provide you with an idea of how much it may cost you to insure your Volvo v40, we ran several quotes to find an average figure. Based on our results, on average, you could insure your Volvo v40 with a comprehensive policy for the monthly price of £91.17, or an annual sum of £992.23.

• How we got this rate

  To generate these quotes we used the following information:

  • The vehicle is a 2018 model
  • Manual transmission
  • Petrol
  • 1.5 litre engine
  • Car has 5 seats
  • 5 doors
  • Factory fitted alarm system
  • The car is not modified
  • Used for social, domestic and commuting purposes
  • 10,000 mileage per year
  • The car is parked in a work car park during the day
  • The car is parked on a driveway at night
  • Owner is a 30-year-old, single teacher from London
  • Owner is a homeowner
  • Five years no claims discount
  • No driving or other convictions in the last 5 years

Volvo v40 insurance cost by location

The table above shows the average cost of Volvo v40 insurance based on insurance groups and driver age. However, a number of other factors can affect the cost of your car insurance premiums, one of the biggest being your location.

To show how much your location can impact your premium, here are some average quotes for a 30-year-old living in three different locations. The quotes are for a Volvo v40 T3 ES 5d.

• Expensive: £1,499 (London SE1)
• Average: £701 (Newcastle NE1)
• Cheap: £721.34 (Galashiels TD1)

• How we got these rates

  These rates are based on the average cost of cover for cars in the locations shown. Our research suggests SE1 is one of the most expensive locations, NE1 represents an average cost location and TD1 represents one of the cheapest locations. Updated: June 2024 (source: Confused).

Which factors affect my Volvo v40 insurance rate?

Along with the insurance group, there are other key factors that impact your insurance premium costs:

• Engine type and capacity. In general, the more powerful the engine, the more you will pay for your insurance. An average 30-year-old may pay £659 for the 1.5-litre Volvo v40 T2 (122bhp) ES 5d, but could pay around £679 for the 2.0-litre Volvo T4 SE 5d.
• Driver location. Where you live helps determine the level of risk that your car may be stolen or you’ll be involved in an accident, and this affects the cost of insurance. For example, a 30-year-old in central London may pay £1,499 for insurance for a Volvo v40 T3 ES 5d, while the same 30-year-old in Newcastle may only pay £701.
• Driver age. The younger you are, the more risk you represent to insurers, and the more you’re likely to pay for insurance. The average 20-year-old driver in London may pay £2,356 for the Volvo v40 D2 (120bhp) R Design Nav 5d, while the average 40-year-old Londoner will only pay £798. As you can see in this example, the price difference is an extra £802 for a younger driver in the same location.

Other factors that influence the cost of your insurance include:

• Your marital status
• Your credit history and job
• Your car’s safety rating score
• The model of your car
• The age of your car
• Your car’s security and any extra anti-theft precautions
• Annual miles driven
• Your driving history and activity
• No claims discount

How can I save on my Volvo v40 car insurance?

Whilst car insurance is a legal requirement, you don’t want it to put you out of pocket. You’ll want to find the best deal for a price that’s within your budget and offers you a good level of cover. There are a few tricks you can try in order to save on your car insurance premiums, and we’ve listed them below.

• Limit your car usage (where possible). Occasionally deciding to walk or get public transport, rather than using your car, can help to save on your premiums. If you work from home, you could also choose to change your class of use to remove “commuting” from the policy which will expose you to less traffic, and should result in a cheaper premium.
• Pay annually. Whilst it might be scary to part with a large sum of money in one go, by paying annually you can save an average of £101.81 a year.
• Install extra safety precautions. The safer your car is, the less of a risk it will be for companies to insure. By adding extra safety measures, you’re quite likely to lower your premium.
• Don’t just accept your renewal quote. Although it might be time consuming, when it’s time for renewal make sure you shop around and don’t just settle for the renewal price given to you – there may be cheaper options out there!

Volvo V40 facts and trivia

• The Volvo V40 was awarded the highest score ever by EuroNCAP, technically making it the safest car ever produced.

Bottom line

There are lots of editions of the Volvo V40 that have been produced over the years, and the insurance cost will depend heavily on the model you choose. The tips in this guide will help you reduce the cost even further.

Frequently asked questions

• How much does a Volvo v40 cost?

  In the United Kingdom, the on-the-road price of a new Volvo v40 ranges from £18,740 to £31,430.

• What is the top speed of a Volvo v40?

  Depending on the model version, Volvos can reach top speeds of 149 mph.

• Is the Volvo v40 safe?

  The Volvo v40 was awarded 5 stars out of 5 under the Euro NCAP safety analysis. Volvo v40 models score exceedingly well across the board with 100% on safety assist safety and 98% for adult occupant safety.

• How much car tax do I have to pay for the Volvo v40?

  The UK standard car tax rate sites at £145 per year. However, you might pay more or less depending on your car’s emissions.

• Where can I buy a Volvo v40?

  You can buy a Volvo v40 online or by visiting your local Volvo retailer. You can also buy Volvo v40s through various motor reseller websites.

• Is the Volvo v40 expensive to insure?

  This depends on the specific model of Volvo v40 you have and the insurance group it falls under. Volvo v40 models can range between insurance groups 3 and 10, so in general the insurance costs should fall on the cheaper side in comparison to other car makes and models.

Written by

Danny Butler

Publisher

Danny is a publisher at Finder specialising in insurance and investing. He previously worked at the global insurer Aon and has appeared in national media giving advice on insurance. Danny holds a BA in International Business from the University of Plymouth and has undying loyalty to his average-poor football team, Portsmouth FC. See full bio

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