Say yes to cheaper van, home and car insurance

Fleet vans are following earlier warnings and registering their company details with the Motor Insurance Database (MID) according to reports from the Motor Insurance Bureau (MIB).

Van drivers were warned that they could face prosecution if they did not keep their details up to date and the MIB are proud to announce that just 16 commercial motor insurance policyholders have been reported to the Crown Prosecution Service.

If found guilty of not keeping their fleet's van insurance details current, the firms could face fines of £5,000.

The MID was set up to help the UK to comply with the 4th EU Motor Insurance Directive, which requires that insurance details of all vehicles in member states be easily accessed by a national information centre.

In the UK, this role is carried out by the Motor Insurers' Information Centre.

Chief executive of MIB, Ashton West, said that while there had been a lot of coverage surrounding the penalties for not registering on the database, some firms still had not sent their details through and now they would be fined.

"Even those that escape legal action face the serious risk of having their vehicles stopped and seized if the data is not on MID," he warned.

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