Free Calculator · Used Car Dealer Insurance
Dealers open-lot coverage carries a per-occurrence limit. One hailstorm, one flood, one fire hits every unit at once. Enter four numbers and see whether your limit matches your inventory.
Count what's on the lot on a normal busy day — not the slow week after the auction.
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Enter your first name and email and your results appear right here — plus we'll email you a copy with the open-lot section of our NJ Dealer Compliance Checklist.
We'll also send a short series on the coverage traps that catch dealers. Unsubscribe anytime. Educational only — does not amend coverage; refer to the policy and applicable law.
Your open-lot exposure
Illustrative estimate only — not a quote, not advice, and not a representation of coverage. Actual coverage is governed by the policy as issued.
Dealers open-lot (dealers physical damage) coverage protects your inventory — but it pays per occurrence, up to the limit. Hail, flood, and fire are lot-wide events: every unit is damaged in the same occurrence, and the claim settles against one limit.
Inventory values have climbed while limits sat still. A 45-unit lot averaging $18,000 per unit is $810,000 of exposure. Against a $500,000 limit, a lot-wide total loss leaves a $310,000 shortfall — and floor plan lenders expect their collateral to be fully covered.
Related: NJ used car dealer insurance guide · NJ Dealer Compliance Checklist