Insurance - 4K with £250 Excess or £2.5K with £1.5 Excess..?

[Looking4aCar]

Hello Everyone,

Im trying to figure out what insurance to go with here...

Im 22years old so its pretty expensive for me on a BMW 1 series.

The best "normal" deal im getting is for £4,000 with a standard £250 compulsory excess.

There are other cheaper deals for around £2,500 but they are going to charge £1,500 compulsory excess if I claim.

My questions is which should I go for?

Thanks.

[Looking4aCar]

Thanks for the replies guys.

I should mention I guess that ive only had my license for 10months and there will also be another 22year old listed on the insurance.

This is my first time getting insurance so I just have some questions I hope you guys can help me with.

Lets say if I do have an accident and its my fault what will happen next?

Can I just pay for any damage if its less then lets say £1,500 then no need to claim on the insurance?

What if its not my fault what then?

Thanks.