Dealerships are well-known for having a lot of fancy cars and trucks available for purchase. They must be outside so that customers can view them when the dealership isn’t open, but that could lead to a variety of problems, such as theft, vandalism, and more. Dealers open lot insurance will protect those vehicles that must sit outside waiting for someone to come along and desire it.
No More Worries
While theft may not be as prevalent because newer vehicles have anti-theft devices implanted, they can still be vandalized. Teens and young adults may break windows, slash tires, and otherwise damage the car, so it’s a good idea to have options in case something happens. Plus, you never know when hail and other damage may come about, especially if you live in an area with a lot of inclement weather. It doesn’t make sense and is usually impossible to bring every vehicle indoors, so the next best thing has dealers open lot insurance that covers such situations.
Need 100 Percent Value
Most insurance companies will require that you insure the full value of your inventory, which can reach millions of dollars. You and the agent will work together to establish such a value from monthly reporting options and more.
It’s Tricky
The problem with dealers open lot insurance is that it is tricky to determine how much you need and where to go for it. However, you may want to choose a company that works with a variety of companies. You’ll have a better chance of finding what you need, and they’ll be with you to ensure you get exactly what coverage you require. Plus, their partners will probably go above and beyond to help you with all the rules and coverage options you’ll need. For Boardwalk Insurance Group.
