To comply with the 4th EU Motor Directive you are obliged to provide the Motor Insurance Database (MID) with the
registration numbers of all vehicles that you own that will be driven, used or parked on a road or public place which are
covered by your Covéa Insurance Motor Trade Road Risks policy. This includes:
- All vehicles which you (or your spouse if named on your policy) permanently own.
- Stock vehicles taxed and in your possession for more than 14 days.
- Vehicles driven under Trade Plate regulations. All Trade Plate numbers must be disclosed.
Notifying the MID with your current vehicles is a legal obligation and failure to supply the information and keep it up
to date is a criminal offence. The maximum penalty is a fine of £5000. We understand that the Motor Insurers
Information Centre (MIIC) will be seeking prosecution on non-compliant policyholders.
Did you know...
If you've sold a vehicle and not removed it from your MID record you could be liable if the new owner has not arranged their own insurance.
If this happens you could:
- Lose your no claims discount;
- Pay higher premiums;
- End up with a claim against your record.
Keep your MID record up to date and look after your No Claims Discount, you've earned it.