UK insurer Admiral is attempting to break into the sharing economy with its latest product , a policy aimed at drivers who are borrowing a third party 's car on a short - term basis , from a single day to up to 30 days . The policy stipulates the individuals covered must know each other and , in the event of an accident , the car owner 's no - cost discount is unaffected . Car owners may be able to add family or friends to existing car insurance policies but the price you’ll pay will vary. Although cover starts at £ 5 for an hour 's drive , the policyholder 's premium is set at £ 750 .
UK insurer Admiral is attempting to break into the sharing economy with its latest product , a policy aimed at drivers who are borrowing a third party 's car on a short - term basis , from a single day to up to 30 days . The policy stipulates the individuals covered must know each other and , in the event of an accident , the car owner 's no - cost discount is unaffected . Although cover starts at £ 5 for an hour 's drive , the policyholder 's premium is set at £ 750 .