When buying and selling vehicles in the motor trade, you need to update the Motor Insurance Database (MID).
If you don’t add a vehicle to the MID when you buy it then you could be stopped by the police, have your vehicle impounded, and be subject to a hefty fine.
Likewise, if you sell a vehicle and forget to remove it from the MID, you may be held responsible if there is an accident or incident, even after you have sold it – and you could also lose your no-claims bonus.
For these reasons, it’s important to update the MID as soon as you can after buying or selling a vehicle. It’s not worth the risk of having to prove the vehicle is passing through the trade.
What do I need to add to the MID?
You’re advised to update the MID with any vehicle that you own, including any vehicles used for social, domestic and pleasure purposes under your motor trade policy.
You also need to add your trade plates to the MID, as these will be displayed when transporting vehicles or accompanying drivers on vehicle demonstrations.
You don’t need to add customer vehicles to the MID if, for example, you’re carrying out service or repairs, cleaning, fitting tyres etc. – your road risks policy will cover you while the vehicles are under your care, custody and control. The owner’s personal insurance for the vehicle will be registered on the MID.
It’s easy to update the MID with Bollington
To make sure you remain within Continuous Insurance Enforcement (CIE) laws, Bollington makes it easy for motor traders to add and remove vehicles from the MID.
There’s two ways to do this:
1. Via your insurer’s online portal
When you take out motor trade insurance with Bollington, you will be given details by your insurer of how to update the MID online. This is the quickest and easiest way of adding or removing vehicles from the MID.
2. Phone our MID updates team on 01625 854 465
Not all insurers offer online access to update the MID, so you can call our friendly motor trade team to update the database for you. Call the number above and select option 4 to speak to take advantage of this service.
If your insurer does offer online access, we can still update the MID over the phone for an annual cost of just £30. Simply register for the service, then call us whenever you buy or sell a vehicle and we’ll do the rest for you.