How can i set up my own Car Insurance, that i can sell to people....?

For starters, you would need some sort of licence. Think of this though - if one of the drivers you insured for the day, at �40, was to run a red light, crash into my car and, as a result of the accident, my wife was paralysed, I would be looking for compensation from the other persons Insurance Company ie YOU! Would you have a few million to pay out to me?