Commonly called dealers open lot (DOL) or dealers’ physical damage coverage, refers to physical damage coverage for anything from jet skis to autos, trucks, and even recreational vehicles being held in a dealer’s inventory for resale. DOL coverage provides options of collision, comprehensive, specified causes of loss, or fire and theft. A specialty underwriting program typically provides this coverage, which may offer other program enhancements such as false pretense coverage. There are four basic levels of protection for open lot coverage: unprotected lots, nonstandard protection, standard protection, and building protection.

Unprotected lots have no fencing or barriers against theft protection; nonstandard has some protection level, but the entire inventory is not protected; standard protection means the entire inventory is covered and protected; and building protection means the inventory is always inside a building.