Dealer Open Lot Insurance

Dealer Open Lot insurance provides physical damage coverage protection to a dealer’s covered autos and equipment. Covered Autos are typically private passenger vehicles (autos, pickups, minivans, SUV’s, etc.), RV units and other autos that are in the dealer’s inventory and held for sale. The vehicles may be used, new, demonstrators or service vehicles. Most insurance companies who write dealer open lot coverage require that the total value of the inventory be insured to 100% of their value.


Maximum Dealer’s Open Lot limits vary by state and range from $500,000 to $1,000,000. The Per Vehicle limit available is $150,000.


Beyond inventory coverage, dealers may choose coverage that addresses specific needs. Have the piece of mind of knowing exactly what your dealership's policy covers. Listed below are additional dealer coverages you may choose.


Open Lot Coverage

What coverage do you have? We have found that many used car dealers purchased a state minimum garage liability policy when starting out in the car business. Although these policies meet the dealer license requirement, many dealers have outgrown these policies. Thoroughbred offers free competitive policy quotes and dealer insurance coverage evaluations.


Beyond the state required minimums many dealers may consider additional coverage to protect their assets.


• Vehicle Inventory

• Business Property

• Workers Comp

• Specified Causes (Fire, Hail, Vandalism, Transport)

• False Pretense

• Tow Trucks

• Errors and Omissions (Titles, Odometer, Truth in Lending)

• Uninsured Motorists

• Fire and Theft

These and many more similar businesss may consider dealer open lot coverage.

• Auto Dealers and Repair
• Motorcycle Dealers and Repair
• Recreational Vehicle Dealers and Repair

• Heavy Truck Dealers and Repair

Dealer Open Lot Insurance