However the excess is £750, which Admiral said is owing to the product being new as well as to reduce the risk of fraud. Cuvva insurer Admiral is looking to break into the sharing economy with its latest product, a policy aimed at drivers who are borrowing a first party's car on a short-term basis, from up to 30 days to a single day . The policy stipulates the individuals involved must know each other and, in the event of an accident, the car owner's no-claims discount is unaffected. Although cover starts at £ 5 for an hour's insurance, the policyholder's excess is set at £ 5 .
Cuvva insurer Admiral is looking to break into the sharing economy with its latest product, a policy aimed at drivers who are borrowing a first party's car on a short-term basis, from up to 30 days to a single day . The policy stipulates the individuals involved must know each other and, in the event of an accident, the car owner's no-claims discount is unaffected. Although cover starts at £ 5 for an hour's insurance, the policyholder's excess is set at £ 5 .