| Motorists in the United Kingdom are paying a | | | | the cover provider at renewal, you will need to |
| staggering 500 pounds each year to cover the cost | | | | update this information. On the other hand, if you are |
| of damages caused by uninsured drivers and these | | | | staying with the same insurance company; this |
| losses are inevitably passed on to the premiums of | | | | information will usually be automatically updated. |
| insured drivers who end up paying a lot more for car | | | | However, it is best to check to ensure that all the |
| cover. The MID database was set up to discourage | | | | important details figure in the database. |
| drivers from taking their vehicles out on the road | | | | If you choose to go with a new insurer, you will |
| without the proper insurance cover; it is mandatory | | | | need to re-register all your vehicles on the database. |
| for all insured vehicle owners to register their car on | | | | What can be the consequences of not registering |
| this database. | | | | your vehicle on the MID database? |
| The rules for registration differ depending on the | | | | You may have to face a number of issues if your |
| type of policy that you hold; for instance the | | | | vehicles are not registered on the MID database. The |
| procedure for registering a vehicle if you own trade | | | | first is of course being pulled over by the police. The |
| cover will be different from if you were to own a | | | | authorities will usually use their system of Automatic |
| private policy. So here is a look at the appropriate | | | | Number Plate Recognition to identify cars that cannot |
| steps to get your vehicle in the database. | | | | be found on the database. If your vehicle has not |
| Who will register the vehicle? | | | | been registered, the police may very well seize it and |
| If you own a private car cover; your insurance | | | | you will need to pay hefty fines to get your |
| provider will register your vehicle on the database for | | | | impounded vehicles back. Not only will there be |
| you. However, if you have a trade policy, you | | | | financial ramifications when your car is seized but also |
| probably have several vehicles on it which means | | | | since it will not be available for business purposes, |
| that you will be responsible for ensuring that the | | | | you may lose out on vital customer accounts and |
| details of all the vehicles find their way into the | | | | crucial business time. |
| database. This includes any taxed vehicles that are | | | | As you can see, there are several hassles that you |
| held in stock and also borrowed cars that you intend | | | | will encounter if you do not register all the vehicles |
| to use for ten days or more. You can get in touch | | | | under your motor trade insurance policy in the MID |
| with the cover provider for additional details; more | | | | database. You also need to understand that because |
| often than not, an insurance company will also | | | | the police have quick access to information about the |
| register the vehicles for trade policy holders. | | | | type of policy that you own; using private cover for |
| What information will need to be submitted to get | | | | business purposes can prove risky. Not only will your |
| the vehicle on the MID database? | | | | vehicle be seized in such a situation but also you may |
| You will need to submit information about the vehicle | | | | have to pay heavy fines and in a worst case |
| including the registration mark, the insurance policy | | | | scenario, you business license may be revoked; so, |
| number and date on which the insurance was | | | | its best top choose a motor trade insurance policy |
| purchased and when the cover ended. If you change | | | | for commercial operations. |