Openly Home Insurance Review
Openly offers some uncommon coverages for high-value homes.
Editor's Rating
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Openly is a good company if you have an expensive home, as it offers a few features most insurers don't. You can also get up to $5 million in coverage to repair your home in case of a catastrophy.
You'll have to contact an agent to get a quote, but the good news is coverage is available in about half the US.
Openly home insurance: good features for high-value homes
Openly markets itself as providing coverage for homes worth a "sweet spot" between $400,000 and $3 million. Its home insurance policies offer up to $5 million in coverage to replace or repair your dwelling after an incident.
The company offers policies only through agents, meaning you will have to submit your information online and a local agent will contact you with a quote. Policies are offered in 20 states, and the company does not provide a great deal of detail about its products online.
Openly's home insurance coverage options include protection from water seepage damage. Additionally, policies are expansive enough to offer coverage for golf carts.
However, Openly will not allow you to get a quote online, and instead directs you to a local agent. In fact, Openly does not underwrite its own homeowners insurance policies; Rock Ridge Insurance Company handles that aspect of the business. Openly also does not list any discounts on its website, which can be hard to get information from.
Bottom line: Openly is a good option if you are looking to insure a high-value home and want uncommon coverages such as water seepage protection. If you don't have a more expensive home or want to get a quote quickly online, Openly is likely not for you.
Openly home insurance coverage
Openly offers the standard range of home insurance coverages, along with a few notable add-ons that are less common. A key one is water seepage coverage, which protects you if some part of the home is damaged by ground water seepage.
Openly offers what are called HO-5 policies, which provide broader protections than standard HO-3 policies. Policies through Openly covers damage for any event, or peril, that isn't explicitly excluded in the policy.
Other standard coverages include:
- Roof repair matching coverage: includes coverage of undamaged property to maintain a roof's uniform look.
- Fire department service charge reimbursement: covers charges if the fire department is called to your home.
- Golf cart physical damage: covers repair or replacement of golf carts owned by the insured.
- Guaranteed replacement coverage: covers rebuilding a home after a total loss, even beyond the $5 million policy limit.
- Landscaping: replaces or repairs trees, shrubs, plants or a lawn up to $50,000 per occurrence, or $5,000 per item.
- Lock replacement: replaces locks, with no deductible.
- Mold and fungi coverage: covers up to $10,000 for removal, plus $50,000 in liability.
Other optional coverages include:
- Earthquake coverage: to repair damage from an earthquake.
- Buried utility line coverage: to repair damage to utility lines on your property.
- Homesharing program coverage: coverage if you rent out rooms or buildings with sites such as Airbnb.
- Personal cyber coverage: to restore data after a cyber attack.
- Home under construction coverage: protects your home from damage or theft during construction.
Openly offers policies in Alabama, Arizona, Georgia, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Mississippi, Missouri, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Tennessee, Wisconsin.
Openly insurance discounts
Openly does not list any discounts on its website. To learn about any potential discounts, you will have to reach out to an agent.
Openly insurance claims
Policyholders have multiple ways to file claims with Openly:
- Online form: go to Openly's claims form and fill out information about yourself and the incident.
- Phone: call the company's claims service at (888) 808-4842.
- Email: claims can be filed at [email protected].
Openly home insurance reviews and complaints
Rock Ridge Insurance Company, which underwrites most of Openly’s policies, has an A- credit rating from A.M. Best, which is defined as "excellent." That means Rock Ridge, which is a subsidiary of Clear Blue Insurance, should be able to pay out claims, even after a disaster.
In 2022, Openly launched its own carrier, Openly Insurance Company, which will directly issue policies in 17 states. It will, however, still have some partner companies underwrite policies.
Rock Ridge has almost no complaints in terms of its homeowners insurance, according to the National Association of Insurance Commissioners. Rock Ridge only wrote a little more than $53 million in premiums last year, less than one-tenth of 1% of the overall market.
Reviewer | Average score | Rock Ridge (Openly partner) score |
|---|---|---|
| NAIC | 1.00 (lower is better) | 0.10 |
| A.M. Best | Letter grade | A- (Excellent) |
Neither Openly nor Rock Ridge have mobile apps.
Crawford, which handles claims for Openly, has an A- rating from the Better Business Bureau. That rating measures how the company responds to customer complaints.
FAQ
What is Openly insurance?
Openly is a managing general agent that connects customers to insurance agents, usually for coverage of homes worth between $400,000 and $3 million. The company says it uses data and cutting-edge technology to create customizable coverage.
What insurance does Openly offer?
Openly only offers home insurance.
Is Openly available in my state?
Openly is available in Alabama, Arizona, Connecticut, Georgia, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Mississippi, Missouri, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Utah and Wisconsin. The company expects to add Delaware and Virginia to the list soon.
Can I get a quote online?
Openly does not provide online quotes. The company only provides quotes through local agents. You can provide your information to the company online, and it will connect you with an agent who can reach out with a quote. You can use Openly's online quote form to submit your information.
What is an HO-5 policy?
An HO-5 policy is a type of home insurance that provides a broader range of protection compared to a standard HO-3 policy. The key difference is that HO-5 policies exclude fewer causes of damage, or perils, from coverage, and potentially allow higher limits for personal liability.
About Openly insurance
Openly was founded in 2017 in Boston by Ty Harris, a former Liberty Mutual executive, and Matt Wielbut, previously of Elements Insurance and Goldman Sachs. The company markets itself as aiming to use artificial intelligence to make the process of buying home insurance more efficient and affordable.
The company began as a managing general agent, meaning it did not write its own policies or handle its own claims. Some of Openly's policies are underwritten by Clear Blue Insurance, a subsidiary of Rock Ridge, and claims are managed by Crawford. In 2022, the company launched the Openly Insurance Company, which will directly issue policies.
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