The Insurance Institute for Highway Safety (IIHS) announced that the Volvo XC40 is the only small SUV tested in its updated moderate overlap 2.0 test to receive an overall "Good" rating in every test category (as of December 2022).

One of only two vehicles to receive an overall "Good" rating, the Volvo XC40 was the only small SUV to achieve a "Good" rating in every individual test category as well, based on the test showing minimal risk of injuries for all passengers.