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swiftcover.com, the UK’s first and only 100% online insurer, has developed the ‘Rich Car List’1, a ranking of the cars high income earners are more likely, and less likely, to be driving than the national average. The list has been developed from an analysis of 2.2 million recent swiftcover.com quotes and reveals:
Big wallets really do mean their owners are more likely to be driving big gas guzzling 4x4s. Jeeps came fourth on the list of cars that high income earners choose, and seem to have overtaken Landrovers as the richer driver’s vehicle of choice.
However, being kinder to the environment and more economical with space on the roads also appears to be a concern for those in the higher income brackets they are more likely to drive a Smart car than many big engined cars including Volvos, Alfa Romeos and Mitsubishis (see Notes to Editors for the full table of results).
Brands that were traditionally scorned by car-enthusiasts, such as Skoda - generally considered an unstylish and sluggish motor - and Japanese cars, are now more popular among the wealthy than MGs, Fords and Renaults.
Minis are no longer the car of mini-earners. Long gone are the days of the Mini being regarded as a cheap A to B get-around. Made fashionable by the likes of Madonna, this car is now well and truly established as a motor of preference for the wealthy. Wealthy Brits are more likely to be driving a Mini than they are a BMW model (such as a 3 series or Z4), an Audi or a Lexus.
Top 10 ‘most likely’
Porsche
Mercedes
Jaguar
Jeep
Lotus
Mini
Saab
Audi
Lexus
BMW
Top 10 ‘least likely’
Proton
Lada
Rover
Daewoo
Vauxhall
Hyundai
Hyundai
Kia
Ford
Fiat
Daihatsu
The research also reveals the top five cars of the low income earners in Britain. Topping the list was the Proton, followed by Daewoos, Rovers, Fiats and Nissans.
Craig Staniland, Underwriting Director of swiftcover.com comments: “The car you drive is very much a status symbol and, traditionally, was a clear indication of the money you earned. However, our analysis shows that over time, the choice of car is changing and small cars like the Mini and Smart car are becoming more popular with higher income earners. The main thing to remember is that no matter if you drive a bank-busting sports car or a cheap run-around; you must insure your car adequately against theft and damage.
He continues: “swiftcover.com has revolutionised the car insurance market by offering 100% online insurance, meaning that you can get your quote at the click of a button in under a minute. Online insurance also means no call centres, which in turn, means Swiftcover can provide some of the cheapest insurance deals on the market”
Income brackets are as follows:
High income £43,000 and above
Low income £14,000 and below
Information source: www.swiftcover.com
Article Source: Swiftcover.com Car Insurance Services. |
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