Your Obligations - Motor Trade Insurance Database

Here we will look at your obligations as a motor trader regarding the Motor Insurance Database. The MID (Motor Insurance Database) is a centralised database of motor insurance policy information of all insured vehicles. Your broker should have discussed and arranged for the provision of login and password details to keep all vehicle changes updated where you have Internet access, for those customers without Internet access, a call confirming vehicle changes must be made in order for your broker to be able to update the database on your behalf.

Most motor trade policies are unspecified vehicle policies which means it is important to keep updated.

• Registration numbers for vehicles owned by the policy holder and those specifically covered on the Motor Trade policy.
• Courtesy/Loan/Demonstrator vehicle registration numbers owned by the policy holder for the purposes of customer use.
• Trade Plates (if applicable)

The department of transport has now indicated quite clearly that the obligation on Motor Traders will be identical to fleet policyholders for taxed vehicles which will be driven on the road.

The current deadline for notification is 14 calendar days. This means that vehicles held between 1 and 14 days will be excluded under the de minimis exception, but that all vehicles held longer than this, and covered by the Motor Trader's policy, will need to be notified. In the case of untaxed vehicles, the number to be supplied by the user will be the trade plate.

Should you have any queries or require any assistance regarding the Motor Insurance Database, please contact Catherine Borrill 0845 241 8574 or email: catherine@realinsurance.net