Openly home insurance review: Customizable coverage for high-value homes
Openly insures homes up to $5 million with its impressive lineup of customizable policy add-ons that come with high coverage limits — and affordable rates to boot.
Jennifer GimbelJennifer GimbelSenior Managing Editor & Home Insurance ExpertJennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.
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The bottom line
Openly insurance is ideal for homeowners with high-value homes looking for a policy they can customize to fit their unique needs. It offers a slew of valuable coverage add-ons, including guaranteed replacement cost coverage for your home, scheduled and blanket personal property protection, earthquake coverage, and loss assessment protection with high limits if you live in a community with an HOA.
And unlike many home insurance companies, Openly doesn’t have restrictions on the types of dog breeds it’s willing to insure. You also won’t have an issue getting coverage if you have a pool — no matter if it has a diving board and slide, or no fencing around it.
However, it’s not available nationwide. And it currently doesn’t offer any other insurance products. So if you were hoping to bundle all of your insurance needs with one company, you’ll need to look elsewhere.
Offers up to $5 million in coverage for high-value homes
Robust lineup of policy add-ons with high limits to customize coverage to fit your needs
No restrictions on pools without fences or dangerous dog breeds
Only available in 21 states
Fewer home insurance discounts than competitors
Not included in J.D. Power’s customer satisfaction studies
Basic coverages offered
Openly home insurance policies include these six standard coverages to protect your home, belongings, and personal liability:
Dwelling coverage: Pays to repair or rebuild the structure of your home after a covered loss — with coverage limits up to $5 million.
Other structures coverage: Pays to repair or rebuild other structures on your property not connected to your home, including detached garages, storage sheds, and fencing.
Personal property coverage: Pays to repair or replace your personal belongings after a covered loss, including furniture, clothing, tech gadgets, and other stuff you own.
Loss of use coverage: Pays for hotel stays, restaurant bills, pet boarding fees, and other temporary living expenses after a covered loss if you need to live elsewhere while your home is being rebuilt.
Personal liability coverage: Pays for legal and medical expenses if someone is injured or their belongings are damaged while at your home and you’re found legally responsible.
Medical payments coverage: Pays for small-dollar medical bills if someone is injured while at your home — regardless of who is at fault.
Additional coverages offered
The following coverages are either included or can be added to your Openly insurance policy for an additional cost:
Fortified roof: Pays the extra cost to replace your roof with Fortified-certified construction and materials after a covered loss.
Mold, fungus, or rot damage: Pays for damage to your home and belongings caused by mold, fungus, or rotting, including up to $10,000 in personal property coverage and $50,000 in liability coverage for issues caused by the mold.
Openly has plans to offer more products in the future, including personal umbrella, auto, renters, and condo insurance policies.
Openly scores high on our price rating scale thanks to its average annual home insurance rate that’s around 50% cheaper than the national average.
Openly wasn’t included in J.D. Power’s 2022 overall customer satisfaction, claims satisfaction, or digital experience surveys since it’s such a new insurance company with limited reach. This means its above-average customer experience score is based solely on the National Association of Insurance Commissioners (NAIC) Complaint Index Report. In 2021, Rock Ridge Insurance Company — the company that underwrites Openly’s policies — had 90% fewer complaints than similar insurance companies of its size.
Openly earns a perfect score on our coverage options rating scale thanks to the 25+ coverages you can add on to your policy for extra protection, including guaranteed replacement cost coverage for your home, water backup and equipment breakdown protection, earthquake coverage, scheduled and blanket personal property protection, and more.
The average cost of home insurance with Openly is $1,125 per year for $300,000 in dwelling coverage, according to Policygenius rate data. That’s around 50% lower than the national average. Keep in mind that your actual rates will vary based on location, policy limits, coverages, claims history, and other factors.
Compare home insurance quotes from Openly and other top insurers
Unlike traditional insurance companies that offer discounts for home security systems or fire alarms, Openly doesn’t. Instead, it uses a special risk-rating model that looks at your surrounding area to create a picture of the different risks your home is susceptible to and then prices your policy accordingly.
But that’s not to say it doesn’t offer any ways to save. You can cut down on the cost of Openly home insurance if you qualify for either of these two discounts:
Multi-policy: If you have a qualifying auto insurance policy within Openly’s network of partner carriers.
Windstorm mitigation: If your home is fortified with special wind mitigation features to protect it against severe weather, including hurricanes, high winds, and hail.
Openly home insurance state availability
Openly offers home insurance policies in 21 states:
Alabama, Arizona, Georgia, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Mississippi, Missouri, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, and Wisconsin.
Openly has plans to expand coverage to Connecticut and Virginia in 2023.
What to expect with Openly home insurance
How to get a quote: You can get an Openly home insurance quote online through Policygenius or by filling out an online form on Openly’s website to get connected to a local agent.
Customer service options: You can get in touch with an Openly customer service rep by calling 888-808-4842, emailing firstname.lastname@example.org, or using the live-chat feature on Openly’s website.
How to file a claim: You can file an Openly home insurance claim online, by calling 888-808-4842, or by contacting your local agent — their contact info should be on your policy declarations page.
How to cancel your policy: You can cancel your Openly home insurance policy by contacting your local Openly agent directly.
Openly vs. other home insurance companies
Compare Openly home insurance to other popular insurers in the industry:
Openly insurance policies are backed by Rock Ridge Insurance Company, a subsidiary of Clear Blue Insurance Group.
How long has Openly insurance been around?
Openly insurance was founded in 2017 by Ty Harris, Liberty Mutual’s former chief product officer, and Matt Wielbut, a former vice president of technology at Goldman Sachs. The duo launched Openly in an effort to create a premium insurance carrier that uses cutting-edge technology and actuarial science to streamline the underwriting process. It touts its agents can offer quotes in just 15 seconds through its proprietary risk-analysis technology.
Which states offer Openly home insurance?
Openly home insurance is available in Alabama, Arizona, Georgia, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Mississippi, Missouri, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, and Wisconsin.
Jennifer Gimbel is a senior managing editor and home insurance expert at Policygenius, where she oversees our homeowners insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.