Your inventory is your balance sheet — protect it like one.
Physical-damage protection for the vehicles you hold for sale
For most dealers, the vehicles on the lot are the single largest asset the business owns — and the most exposed. Dealers' Open Lot insurance provides physical-damage protection for that inventory, covering vehicles held for sale against the perils that can wipe out a lot overnight: fire, theft, vandalism, hail and wind, flood, and collision. Standard commercial property policies were never designed to insure a rotating fleet of sale vehicles, which is why dealers need a dedicated open lot form.
Whether you run a franchised store, an independent used-car lot, or a powersports dealership, open lot coverage keeps your working capital protected while it sits waiting to sell.
What Dealers' Open Lot Covers
Open lot programs are tailored to the inventory, and typically respond to:
Fire & Explosion — loss to inventory from fire, smoke, or explosion.
Theft & Vandalism — stolen vehicles and malicious damage, a frequent overnight loss.
Hail, Wind & Weather — one of the largest catastrophe exposures for open lots.
Collision & Overturn — damage while vehicles are moved on or near the lot.
Flood & Named Storm — where written, protection against rising water and storm surge.
How Open Lot Coverage Is Structured
The right structure depends on your inventory and your location:
Reporting vs. fixed-limit forms — monthly value reporting for fluctuating inventory, or a set blanket limit.
Per-vehicle and per-occurrence deductibles — including separate, often higher, deductibles for hail and wind.
Catastrophe sublimits — specific hail, wind, and flood terms in CAT-exposed regions.
Single- vs. dual-interest — protecting the lender, the dealer, or both.
Who Needs Dealers' Open Lot
Open lot coverage is built for:
Franchised and independent auto dealers
Used-car lots and wholesale dealers
RV, motorcycle, and powersports dealers
Boat and marine dealers
Consignment and buy-here-pay-here lots
Our Approach
At Cory Washington & Co., we structure open lot coverage around your true inventory values, your lot's catastrophe exposure, and your lender requirements — so a hailstorm or an overnight theft doesn't become a balance-sheet event. Licensed in all 50 states, we access specialty dealer markets, keep valuations current, and explain the deductible and catastrophe trade-offs clearly so your inventory is never quietly underinsured.
Related coverage: Car Dealership · Garage Liability · Commercial Property.
All insurance descriptions on this website are provided by Cory Washington & Co. LLC strictly for general informational purposes. They are not intended to be, and should not be relied upon as, legal, financial, or insurance advice. The information presented is general in nature and does not guarantee the availability, terms, conditions, or scope of any insurance coverage. Actual coverage is determined solely by the specific policy language issued by the insurer and remains subject to underwriting approval. Nothing on this website creates or implies an agent-client relationship, binds coverage, or alters any existing policy. Cory Washington & Co. LLC expressly disclaims any liability for actions taken, or not taken, based on the content provided here. For advice regarding your particular situation, please consult directly with a licensed insurance professional at Cory Washington & Co. LLC or another qualified insurance professional, and always review your policy documents in full.
Download the fillable Auto Dealer Supplemental to start your submission, or browse all applications.
Frequently Asked Questions
How do I get dealers' open lot insurance through Cory Washington & Co.?
Request a quote or contact our team. We start with a short conversation about your operations, analyze your exposures, then negotiate dealers' open lot insurance across multiple carriers that compete for your account and present options with the trade-offs explained. Cory Washington & Co. LLC is licensed in all 50 states.
What drives the cost of dealers' open lot insurance?
It depends on your exposure. Dealers' open lot insurance is priced on factors like your industry, size, prior claims, and the limits and deductibles you select — so two businesses rarely pay the same. We shop your account across competing carriers and present the trade-offs in plain English.
Do I need dealers' open lot insurance?
It depends on your situation. Some coverage is required by law; more often, dealers' open lot insurance is required by a contract, lease, lender, or client before they will do business with you — and even when it is not mandated, it guards against exposures that can be severe. We review your operations and obligations and tell you plainly what you need and why.
What if another agency has already declined or non-renewed my coverage?
Difficult, specialty, and previously-declined placements are a core part of our work. We access excess & surplus (E&S) and specialty markets that many generalist agencies cannot, and we explain the trade-offs clearly so you can decide with confidence.
Available in all 50 states. See how requirements differ in California, Texas, Florida, New York, or choose your state.