Key Facts About Insuring a Volvo in Ontario
The figures below are based on MyChoice’s proprietary online quote data collected from Volvo drivers in Ontario in 2026.
| Average Volvo insurance premium (Ontario): | $2,227 |
| Cheapest Volvo model to insure: | XC40 ($1,871) |
| Most expensive Volvo model to insure: | S60 ($2,583) |
| Cheaper alternatives to Volvo for car insurance: | Mitsubishi ($1,519), Fiat ($1,612), Volkswagen ($1,644), Subaru ($1,702) |
| Volvo collision rate in Ontario: | 7.5% of Volvo drivers have ≥1 at-fault accident |
How Much Does it Cost to Insure Your Volvo in Ontario?
Where you park your Volvo matters. Volvo insurance in Ontario averages $2,227 a year, but rates swing widely by city, climbing in claims-heavy markets like Markham and easing in smaller communities such as Kingston.
Here’s the estimated average annual Volvo premium across Ontario:
| City | Average Annual Insurance Premium |
|---|---|
| Brampton, ON | $3,626 |
| Scarborough, ON | $3,183 |
| Vaughan, ON | $2,825 |
| Mississauga, ON | $2,606 |
| Markham, ON | $2,470 |
| Toronto, ON | $2,453 |
| Barrie, ON | $2,212 |
| Oshawa, ON | $2,211 |
| London, ON | $2,128 |
| Windsor, ON | $2,125 |
| Thunder Bay, ON | $2,123 |
| Hamilton, ON | $1,953 |
| Sudbury, ON | $1,924 |
| Kitchener, ON | $1,891 |
| Kingston, ON | $1,816 |
| Ottawa, ON | $1,755 |
How Volvo Car Insurance Costs Compare to Similar Vehicle Brands
When selecting a vehicle, many buyers weigh the insurance rates of different brands against each other, since insurance costs can significantly influence the decision. Based on our internal Ontario quote data, Volvo sits in a moderate price band relative to comparable brands. Volvo insurance generally costs more than Hyundai, Lexus, Toyota, but less than Honda, Audi, BMW.
Here’s how the average annual Ontario premiums compare:
| Car Model | Average Annual Insurance Premium |
|---|---|
| Hyundai | $2,181 |
| Lexus | $2,206 |
| Toyota | $2,209 |
| Volvo | $2,227 |
| Honda | $2,237 |
| Audi | $2,311 |
| BMW | $2,409 |
Volvo Car Insurance Rates Through The Years
In the past six years, Volvo vehicle insurance rates have fluctuated, with a general upward trend in premiums.
| Year | Average Annual Insurance Premium | YoY Change |
|---|---|---|
| 2020 | $1,745 | — |
| 2021 | $1,842 | +5.6% |
| 2022 | $1,955 | +6.1% |
| 2023 | $1,925 | -1.5% |
| 2024 | $2,047 | +6.3% |
| 2025 | $2,151 | +5.1% |
| 2026 | $2,227 | +3.5% |
Volvo Car Insurance Rates by Model
The Volvo model you drive moves your premium meaningfully. Among popular Volvo models in our data, the XC40 is the cheapest to insure while the S60 sits at the top.
Below are average annual Ontario premiums for the most-quoted Volvo models:
| Model | Average Annual Insurance Premium |
|---|---|
| XC40 | $1,871 |
| V60 | $2,182 |
| XC90 | $2,272 |
| XC60 | $2,383 |
| S90 | $2,450 |
| S60 | $2,583 |
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 Ontario is $2,227. 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 $2,272 annually to insure a 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 Ontario is an XC40 model at $1,871 per year.