Volk played college football for the Michigan Wolverines from 1964 to 1966 and was a member of the 1964 team that won the Big Ten Conference championship and defeated Oregon State in the 1965 Rose Bowl.

After being released by the Colts in April 1976, Volk concluded his playing career with the New York Giants in 1976 and the Miami Dolphins from 1977 to 1978.

His decision to attend Michigan rather than Ohio State was influenced by family ties, including Bob Chappuis, who was Volk's uncle and finished second in the Heisman Trophy voting while playing for the undefeated 1947 Wolverines.

[2] During the 1964 season, Volk played at the halfback position on both offense and defense and also served as a backup at quarterback to Bob Timberlake.

[3] In his second game, he helped the Michigan defense hold scoreless a high-scoring Navy team led by Hall of Fame quarterback Roger Staubach.

"[5] Volk was described by sports writer Joe Hendrickson as "instinctive — usually in the right place to mess things up for the opposition.

"[5] Volk helped the 1964 Michigan team win the Big Ten Conference championship and defeat Oregon State in the 1965 Rose Bowl by a score of 34–7.

[11] At the conclusion of his college football career at Michigan, the Newspaper Editors Association distributed a feature story on Volk, describing him as follows:"Rick Volk is a safety man who conjures up an image of homemade apple pie and pancakes smothered in maple syrup, Saturday night movies and picnics in a wooded grove.

At the camp for the All-Star team, he was rated by the scouts as "the best all-around athlete among the high-priced talent preparing for pro debuts.

He also set a Colts team record for the longest interception runback with a 94-yard touchdown return against Chicago in November 1967.

[14] The Colts won the NFL championship in 1968 and played Joe Namath's AFL champion New York Jets in Super Bowl III.

Volk was knocked unconscious during Super Bowl III when he collided helmet-to-helmet with Jets fullback Matt Snell.

[18][19] In 1970, Volk helped lead the Colts to another Super Bowl appearance, but were now representing the AFC following the merger of the two leagues (NFL and AFL) that year.

This time, the Colts defeated the Dallas Cowboys in Super Bowl V. Volk was responsible for covering Pro Football Hall of Famers Bob Hayes and Mike Ditka in the Super Bowl,[20] and he played a key role in the Colts' victory.

Volk had his best season in 1971 when he was picked as a first-team NFL All-Pro by the Associated Press, Pro Football Writers, and the Newspaper Ent.

The personable veteran defensive back has known the sweet taste of success, attested by the Super Bowl ring he often wears, and also has survived the agony of defeat — especially after people like Don Shula, John Unitas, Bubba Smith and Tom Matte were no longer wanted or appreciated in the Monumental City.

With Volk's departure, punter David Lee was the sole remaining player on the Baltimore roster from the 1970 Super Bowl team.

The team was selected by the fans in Baltimore, and the only players at any position to receive more votes than Volk were David Lee, Johnny Unitas, Raymond Berry, Alan Ameche, Gino Marchetti, John Mackey, Mike Curtis, Art Donovan, Alex Sandusky, Jim Parker and Bobby Boyd.

[14] Miami head coach Don Shula, who had worked with Volk in Baltimore, said, "We got him in the last four games, and he showed us some great hitting.

Volk told reporters he had wanted to end his career with a championship team and added, "When the game's over, you can't worry about it.

"[34] Volk began working as a manufacturer's representative while still playing football, and continued in that business after retiring from the game.