The Volvo XC60 is on the new-car list as an SUV made in China, in two hybrid versions. This guide takes each cost in turn: the price to buy, the COE, road tax and car insurance. The insurance figures are for the XC60 B5 RD, the version most of our insurers quote.
The insurance prices are examples read on 20 October 2026 for one stated driver and car. Your own quote depends on your details.
The XC60 on sale, and on our form
The new-car list read on 2026-10-10 shows two versions, both petrol-electric with a 1,969cc engine:
- XC60 Mild Hybrid B5 Plus: 247bhp
- XC60 Plug-in Hybrid T8 Plus: 449bhp
Our quote form lists five versions:
- XC60 B5 RD: 1,969cc
- XC60 T5 R-Design 2.0: 1,969cc
- XC60 T6 R-Design 2.0: 1,969cc
- XC60 2.0T: 1,999cc
- XC60 T5: 1,999cc
The COE, road tax and insurance figures below are for the B5 RD. Quote the exact car you are buying, since each version is priced on its own.
The price to buy
As listed on 2026-10-10, with COE included in the list price that day:
- XC60 Plug-in Hybrid T8 Plus: S$370,000
- XC60 Mild Hybrid B5 Plus: S$375,000
List prices move with each COE round. When you compare offers, check what each one includes, such as the warranty, servicing and charging equipment, before you compare totals.
COE
The price page states that the XC60 B5 RD, with its 1,969cc engine, is above 1,600cc. It needs a Category B COE. Category B closed at S$130,100 in the October 2026 1st round. The COE page has the latest.
Road tax
LTA's formula gives S$1,175.74 a year for the B5 RD's 1,969cc engine, before any age surcharge.
After 10 years, a surcharge applies:
- Over 10 years: +10%
- Over 11 years: +20%
- Over 12 years: +30%
- Over 13 years: +40%
- Over 14 years: +50%
For other versions, use the road tax page.
Insurance for the standard driver
The Volvo XC60 price page prices this case:
- Car: XC60 B5 RD, registered 3 years ago, private use, comprehensive cover
- Driver: aged 40, married, office job, driving 10 to 19 years
- Record: 50% no-claim discount (NCD), no claims
- Repairs: authorised workshop, no add-ons
For that driver, 15 insurers give a price, and only one on our panel has none online yet. The lowest premium is S$975.27. The insurer whose lowest plan is highest asks at least S$1,901.70. That is S$926.43 more, or 95% on top. All prices include 9% GST.
With this many insurers quoting, it is worth seeing several prices side by side.
Excess
The excess is what you pay on each claim. Ten plans here carry S$600. Others sit at S$500, S$750 or S$800. Three ask S$2,500 and one asks S$3,000. One plan has none. Put the excess next to each premium.
How the price moves
With one detail changed and the rest held, the lowest price becomes:
- No NCD (0%): S$1,267.58, S$292.31 more
- 20% NCD: S$1,267.58, S$292.31 more
- Driver aged 27, 3 years' driving, 30% NCD: S$1,267.58, S$292.31 more
- Driver aged 65, 20 or more years' driving: S$975.27, the same
- A new car, registered this year: S$1,024.17, S$48.90 more
- A car 8 years old: S$892.88, S$82.39 less
Losing the NCD adds 30% at the lowest price. A driver aged 27 lands on the same figure. An older driver pays the same as the standard driver, with one fewer insurer quoting.
A new XC60 B5 RD costs S$48.90 more to insure at the lowest price. An 8-year-old one costs S$82.39 less.
These are lowest prices only. Other plans may move by other amounts. If a younger family member will be the main driver, ask each insurer to quote that case, since the order of prices can change.
Against similar cars
For the same driver and car age, the price page lists:
- Lexus NX: S$972.39
- Lexus RX: S$972.39
- Mercedes-Benz E-Class: S$861.03
- BMW 5 Series: S$861.03
- Toyota Voxy: S$793.75
- Toyota Harrier: S$742.90
Their average lowest price is S$867.25. The XC60 is 12% above it, and all six cost less to insure. The two Lexus models come closest. More Volvos are on the Volvo car insurance page.
Costs that depend on you
- Parking: season parking at your HDB block or condo, plus parking at work and at malls.
- Petrol or charging: the plug-in hybrid can be charged as well as filled. What you spend depends on your mileage, pump prices and where you can charge.
- ERP: your routes and the times you drive them.
- Servicing: the maker's schedule, plus tyres, brakes and a battery over the years. On a hybrid, ask what the warranty covers.
- Depreciation: what you pay against what the car fetches later in its COE life.
Summary of yearly costs we can show
For the XC60 B5 RD (1,969cc):
- Road tax: S$1,175.74 a year before any age surcharge (LTA's formula, checked 2026-10-19)
- Insurance, standard driver: from S$975.27 a year (20 October 2026)
- Insurance, no NCD: from S$1,267.58
- Insurance, a car 8 years old: from S$892.88
One-off costs for reference: new hybrid list prices from S$370,000 as listed on 2026-10-10, and a Category B COE of S$130,100 in the October 2026 1st round.
Before you buy: car insurance for the Volvo XC60
Before you drive off, get your car insurance through Shenton Brokers. Compare car insurance for the Volvo XC60 to see today's prices from every insurer we compare and how they change with the driver and the car's age. Or get a quote with your own details.