Dramatic fall in insurance costs for Volvo models

By / 11 years ago / Latest News / No Comments

Fitted as standard to all new Volvo models except the XC90, the technology has been praised for its ability to help drivers avoid low speed crashes by Thatcham, which administers the Association of British Insurers group rating system for private cars and commercials.

One fleet that has already seen major savings from switching to Volvos equipped with the City Safety technology is Tristar Worldwide. Based in Middlesex, the global chauffeur drive company upgraded much of its 500-strong fleet to the latest Volvo models in September 2011, with savings comprising:

  • A 56% fall in first-year repair costs to just under £270,000, a saving of almost £350,000.
  • A 71% fall in third-party insurance costs, saving £260,000
  • A reduction of £65,000 in hire costs.

‘Our drivers work predominantly in urban areas and have suffered from numerous minor cases of causing rear end shunts which generate repair, hire car and potentially expensive personal injury costs,’ explained Janusz Kozlowki, Tristar Worldwide’s fleet manager.

Volvo Car UK managing director Nick Connor added: ‘With City Safety AEB now fitted as standard across all new production Volvos except the XC90, it’s fantastic to see the technology recognised by Thatcham, ultimately allowing Volvo drivers to enjoy big cost savings on their insurance. The continued introduction of all these lifesaving technologies links back to our Vision 2020 long term objective that by 2020 no one should be killed or injured in a new Volvo.’

The new ratings are as follows:

Volvo model savings

Group ratings drop

Potential insurance premium savings

V70 SE Lux D5

From 35E to 32E

£154.93

S60 R-Design Nav D5

From 34E to 30E

£154.96

XC60 R-Design Lux Nav D5

From 35E to 31E

£161.81

XC70 SE Nav D5

From 33E to 30E

£154.21

Figures provided by Volvo Car Insurance

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Natalie Middleton

Natalie has worked as a fleet journalist for over 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day.