Top car collectors own 'up to 30 vehicles'

LONDON: The number of people in Britain owning four or more luxury cars is on the increase, with some clients owning more than 30, according to insurer Aviva.

Some of the car collections mean more to their owners than a mere form of transportation, with staff employed to look after them.

The insurer said the average vehicle mileage for these luxury cars is 5000 miles a year, only two thirds of the national average.

Some of the rising popularity of prestige car collections is thought to relate to investors looking to new ways to invest their money in the current economic climate. Unique and collectable cars hold their resale value, and some vehicles have changed hands for millions, Aviva said.

The typical insurance value of a prestige car portfolio is £350,000, which though somewhat less than the reported £1.3 million US singer Beyonce paid for her husband Jay-Z’s 253mph Bugatti Veyron birthday present, is just over 69 times the value of the average new family car, the insurer added.

Porsche topped the list as this year’s most popular prestige car for insurance quotes on Aviva's Distinct contract, with Bentley, Aston Martin, Ferrari and Jaguar completing the top five.