diff --git a/llvm/lib/CodeGen/SelectionDAG/TargetLowering.cpp b/llvm/lib/CodeGen/SelectionDAG/TargetLowering.cpp
--- a/llvm/lib/CodeGen/SelectionDAG/TargetLowering.cpp
+++ b/llvm/lib/CodeGen/SelectionDAG/TargetLowering.cpp
@@ -7810,13 +7810,15 @@
 
 static SDValue clampDynamicVectorIndex(SelectionDAG &DAG, SDValue Idx,
                                        EVT VecVT, const SDLoc &dl,
-                                       unsigned NumSubElts) {
-  if (!VecVT.isScalableVector() && isa<ConstantSDNode>(Idx))
-    return Idx;
+                                       ElementCount SubEC) {
+  assert(!(SubEC.isScalable() && VecVT.isFixedLengthVector()) &&
+         "Cannot index a scalable vector within a fixed-width vector");
 
-  EVT IdxVT = Idx.getValueType();
   unsigned NElts = VecVT.getVectorMinNumElements();
-  if (VecVT.isScalableVector()) {
+  unsigned NumSubElts = SubEC.getKnownMinValue();
+  EVT IdxVT = Idx.getValueType();
+
+  if (VecVT.isScalableVector() && !SubEC.isScalable()) {
     // If this is a constant index and we know the value plus the number of the
     // elements in the subvector minus one is less than the minimum number of
     // elements then it's safe to return Idx.
@@ -7863,16 +7865,16 @@
   unsigned EltSize = EltVT.getFixedSizeInBits() / 8; // FIXME: should be ABI size.
   assert(EltSize * 8 == EltVT.getFixedSizeInBits() &&
          "Converting bits to bytes lost precision");
-
-  // Scalable vectors don't need clamping as these are checked at compile time
-  if (SubVecVT.isFixedLengthVector()) {
-    assert(SubVecVT.getVectorElementType() == EltVT &&
-           "Sub-vector must be a fixed vector with matching element type");
-    Index = clampDynamicVectorIndex(DAG, Index, VecVT, dl,
-                                    SubVecVT.getVectorNumElements());
-  }
+  assert(SubVecVT.getVectorElementType() == EltVT &&
+         "Sub-vector must be a vector with matching element type");
+  Index = clampDynamicVectorIndex(DAG, Index, VecVT, dl,
+                                  SubVecVT.getVectorElementCount());
 
   EVT IdxVT = Index.getValueType();
+  if (SubVecVT.isScalableVector())
+    Index =
+        DAG.getNode(ISD::MUL, dl, IdxVT, Index,
+                    DAG.getVScale(dl, IdxVT, APInt(IdxVT.getSizeInBits(), 1)));
 
   Index = DAG.getNode(ISD::MUL, dl, IdxVT, Index,
                       DAG.getConstant(EltSize, dl, IdxVT));
diff --git a/llvm/test/CodeGen/AArch64/sve-insert-vector.ll b/llvm/test/CodeGen/AArch64/sve-insert-vector.ll
--- a/llvm/test/CodeGen/AArch64/sve-insert-vector.ll
+++ b/llvm/test/CodeGen/AArch64/sve-insert-vector.ll
@@ -313,6 +313,24 @@
   ret <vscale x 8 x i16> %r
 }
 
+; Test that the index is scaled by vscale if the subvector is scalable.
+define <vscale x 8 x half> @insert_nxv8f16_nxv2f16(<vscale x 8 x half> %vec, <vscale x 2 x half> %in) nounwind {
+; CHECK-LABEL: insert_nxv8f16_nxv2f16:
+; CHECK:       // %bb.0:
+; CHECK-NEXT:    str x29, [sp, #-16]! // 8-byte Folded Spill
+; CHECK-NEXT:    addvl sp, sp, #-1
+; CHECK-NEXT:    mov x8, sp
+; CHECK-NEXT:    ptrue p0.h
+; CHECK-NEXT:    ptrue p1.d
+; CHECK-NEXT:    st1h { z0.h }, p0, [sp]
+; CHECK-NEXT:    st1h { z1.d }, p1, [x8, #1, mul vl]
+; CHECK-NEXT:    ld1h { z0.h }, p0/z, [sp]
+; CHECK-NEXT:    addvl sp, sp, #1
+; CHECK-NEXT:    ldr x29, [sp], #16 // 8-byte Folded Reload
+; CHECK-NEXT:    ret
+  %r = call <vscale x 8 x half> @llvm.experimental.vector.insert.nxv8f16.nxv2f16(<vscale x 8 x half> %vec, <vscale x 2 x half> %in, i64 2)
+  ret <vscale x 8 x half> %r
+}
 
 ; Fixed length clamping
 
@@ -379,3 +397,5 @@
 declare <vscale x 6 x i16> @llvm.experimental.vector.insert.nxv6i16.nxv1i16(<vscale x 6 x i16>, <vscale x 1 x i16>, i64)
 
 declare <vscale x 8 x i16> @llvm.experimental.vector.insert.nxv8i16.nxv2i16(<vscale x 8 x i16>, <vscale x 2 x i16>, i64)
+
+declare <vscale x 8 x half> @llvm.experimental.vector.insert.nxv8f16.nxv2f16(<vscale x 8 x half>, <vscale x 2 x half>, i64)