We present a detailed study of vector meson photoproduction in ultraperipheral heavy ion collisions (UPCs). Using the dipole model, we develop a framework for the joint impact parameter and transverse momentum dependent cross sections. We compute the unpolarized cross section and cos 2ϕ azimuthal angular correlation for ρ0 photoproduction with ϕ defined as the angle between the ρ0’s transverse momentum and its decay product pion meson’s transverse momentum. Our result on unpolarized coherent differential cross section gives excellent description to the STAR experimental data. A first compari- son between theoretical calculation and experimental measurement on the cos 2ϕ azimuthal asymmetry, which results from the linearly polarized photons, is performed and reasonable agreement is reached. We find out the characteristic diffractive patterns at both RHIC and LHC energies and predict the impact parameter dependent cos 2ϕ azimuthal asymmetries for ρ0 photoproduction by considering UPCs and peripheral collisions. The future experimental measurements at RHIC and LHC relevant to our calculations will provide a tool to rigorously investigate the coherent and incoherent production of vector meson in UPCs, as well as to probe the nuclear structure in heavy ion collisions.