PCO Car Hire with Insurance: What’s Included & Why it Matters

PCO car hire is the process of renting a PCO ready car. The majority of professional drivers choose this option because they want to start driving and earning immediately without having to own a car.

However, many drivers overlook insurance when signing the contract, which could put them at significant financial risk in case of an accident.

Remember that not all PCO car hire packages are the same. Some include insurance while others don’t. What’s more, the packages that include insurance don’t always provide the same coverage. Some offer full protection while others leave you to deal with certain aspects on your own.

In this article, we will explain what’s included in an ideal insurance package and why it matters.

What’s Included in PCO Car Hire Insurance?

An ideal PCO car hire insurance usually includes the following:

Third-Party Liability Insurance

Having third-party liability insurance saves you from many troubles. If you are involved in an accident and cause damage to a person or property, you will be liable for paying thousands or even millions of pounds without third-party liability insurance. This could jeopardise your whole financial future.

With third-party liability insurance, this won’t be the case because the insurance provider will be paying the costs, not you.

In addition, if a person files a lawsuit against you, the third-party liability insurance not only covers the legal expenses but also the compensation you are ordered to pay. Considering all this, it’s important that you choose a package that includes third-party liability insurance to avoid any financial troubles.

Passenger Liability Insurance

As a PCO driver, your passengers are your responsibility. The moment something goes wrong with them while they are in your car, you will be the one accountable.

The passenger liability insurance gives you protection in case your passengers get injured while you are driving the car.

Imagine you are doing your shift and suddenly a driver slams into your car. The accident isn’t your fault, but your passengers are injured. Now, who will pay the cost of their medical treatment or lost wages if they are unable to work? It would be you if you don’t have passenger liability insurance. However, with the right insurance, you are protected no matter what happens.

Public Liability Insurance

PCO drivers often face claims from people without being at fault. Sometimes, it could be a passenger who tripped over the curb while leaving your car, while other times it could be someone who slipped just outside your car due to rain.

When you are facing claims from such people and you don’t have public liability insurance, you will be the one paying for their losses. However, public liability insurance protects you both legally and financially in such situations.

Remember that people file lawsuits for all kinds of reasons nowadays. If you don’t have the right PCO car hire insurance, you could end up paying thousands of pounds for something that wasn’t even your fault.

Fire & Theft Protection

Fire and theft are more common than you think. Imagine you park your car in a seemingly safe area after completing your shift, only to find out in the morning that your car has been stolen. As a result, you won’t be able to earn any more. Besides, you will have to deal with police reports and insurance claims, all of which can affect your ability to earn for weeks or even months.

Now, let’s talk about fire damage. The biggest reasons PCO rental and rent to buy cars catch fire are faulty electrical systems and accidents that lead to engine fires. With fire and theft protection, you don’t have to worry about the unexpected because it helps you get back on the road and move forward quickly.

Why Does PCO Car Hire Insurance Matter?

Protects Your Finances

As a PCO driver, a single accident can wipe out weeks or even months of hard-earned income. However, with the right taxi insurance, you won’t have to pay anything out of your pocket. The insurance provider will be the one responsible for paying your legal and financial expenses.

Keeps You On the Road

Time is money for PCO drivers. If you lose your car in an accident and can’t afford a replacement, you will be unable to carry passengers and earn money. With the right insurance, however, you can keep earning no matter what happens.

Ensures Compliance with TfL Regulations

TfL requires PCO drivers to have private hire insurance which is different from regular car insurance. If you get caught driving without the right insurance, your PCO licence could be suspended or revoked. Having private hire insurance helps you stay compliant with TfL regulations and reduces the risk of penalties.

Who Pays for Car Body Repairs if I’m Involved in an Accident?

If you are involved in an accident and damage the body of the car without having comprehensive insurance or Collision Damage Waiver (CDW), you will be the one responsible for car body repair. Even if you do have a damage waiver, you will need to pay an excess fee, which ranges between £500 to £1000. The rest of the repair costs will be covered by the insurance provider.

So, before signing the contract, carefully read the agreement to know what’s included and what’s not. If you sign the contract thinking insurance covers it all, you will be paying the price later on.

Conclusion

PCO car hire UK with insurance is essential to keep yourself protected in case of accidents or unexpected events. However, many drivers make the mistake of choosing cheap packages that don’t cover them from every angle. As a result, they end up paying costs from their own pocket. So, before you sign the contract, make sure you read every detail and get comprehensive insurance coverage because in this business, drivers who protect themselves are the ones who last.