About Openly Home Insurance
Openly home insurance was founded as MGA in 2017 and began using the Openly name in 2022. The company sells policies in 22 states.
Openly is sold by independent insurance agents rather than by agents employed by the company and only offers home insurance. It doesn’t sell car insurance, but you may get a discount if you buy an Openly home insurance policy and another insurer’s car insurance from the same agency.
Openly offers higher than normal coverage limits, including guaranteed replacement coverage up to $5 million, liability insurance to $1 million and personal property up to $100,000. That might be more than you need but high-value property owners may appreciate that extra coverage.
The company has a A- (Excellent) rating for financial strength from A.M. Best.
Openly Homeowners Insurance State Availability
Openly Homeowners Insurance Policy Coverage
Openly homeowners insurance policies include multiple types of standard coverage.
| Coverage type | What it covers |
|---|---|
| Your house. | |
| Other structures coverage | Detached structures including garages, sheds and fences. |
| Theft or damage of your belongings. | |
| Property damage and injuries to others and your legal defense if you’re sued because of an accident. | |
| Extra costs, including hotel bills and restaurant meals, when you can’t live at your home because of damage caused by a problem covered by your policy. Also sometimes called loss of use coverage. | |
| Small medical bills when someone gets injured and blames you, regardless of fault. |
Additional Homeowners Insurance Coverage Offered by Openly
Openly has several endorsements that can be added to a policy to customize coverage. Options will vary by state but can include:
- Assisted living care: Extends coverage to a relative who is not a member of your household but who regularly resides in an assisted living care facility. This includes coverage for personal property, additional living expenses and personal liability.
- Blanket personal property: Provides up to $100,000 of additional coverage for a specific category of items, such as jewelry.
- Earthquake coverage: For damage to property from quakes and aftershocks.
- Equipment breakdown endorsement: You can add a policy endorsement that replaces or restores home appliances damaged by mechanical or electrical breakdown.
- Guaranteed replacement coverage: Guaranteed replacement coverage allows you to exceed your dwelling coverage if building costs exceed that amount. Guaranteed replacement covers you up to $5 million.
- Home-sharing endorsement: Policyholders who rent their homes through home-sharing or short-term rentals can add an endorsement that covers the home during those activities.
- Landscaping: An Openly home insurance policy may cover landscaping up to $50,000 per occurrence and $5,000 per item. Coverage includes repairs and replacement costs for trees, shrubs, lawns and plants for damage caused by problems covered by a policy.
- Personal cyber endorsement: A policy endorsement covers losses and damage caused by digital activities, such as identity theft, cyber crimes and cyber extortion.
- Watercraft: For physical damage to a boat you own.
- Water endorsement: You can add a water endorsement that provides reimbursement if your home suffers damage caused by water entering your house through a sewer or drain or from a backed-up drain or sump pump inside the building.
What Isn’t Covered by Openly Home Insurance?
Openly home insurance doesn’t cover all types of damage. Home insurance doesn’t generally cover:
- Damage connected to negligence or lack of maintenance.
- Floods but you can buy flood insurance.
- Governmental action like seizure of property.
- Intentional damage.
- Nuclear hazard.
- Ordinance or law, such as if a government requires you to demolish, rebuild, renovate or repair your home.
- War.
Openly Home Insurance Discounts
Openly doesn’t offer many home insurance discounts, unlike many competitors. Our analysis of state insurance filings found only these discounts from Openly:
- A discount for being claims-free, with the discount amount depending on the number of years you haven’t made a claim.
- A multi-policy discount for buying auto insurance from the same agency.
- An advance quote discount based on the number of days between getting the quote and the new policy’s effective date.
- A windstorm mitigation discount in a handful of states such as Alabama and South Carolina. The level of discount is based on how fortified your house is based on standards set by the Institute of Business and Home Safety.
The available discounts can vary by state.
How Do I Buy a Homeowners Insurance Policy From Openly?
You can buy an Openly home insurance policy by connecting with an independent agent that works with Openly. Here’s what to do:
- Go to the company’s website.
- Click on Consumers at the top of the page and then choose Connect with an Agent.
- Enter your name, address, email and phone number.
- Openly will then connect you with an agent.
The company doesn’t offer online home insurance quotes, unlike many competitors.
How To File a Homeowners Insurance Claim with Openly
You can file a Openly home insurance claim by going to the company’s website:
- Click on Claims on the homepage.
- Fill out the form, including your name, policy number and damage overview.
- Answer questions about the claim.
- Attach photos and videos.
- Review and submit the claim.
- An Openly adjuster will contact you within the next business day.
Openly Home Insurance vs. Competitors
Openly vs. State Farm Home insurance
State Farm offers multiple types of insurance in every state, so it’s easier to find a home insurance policy than an Openly policy.
| Openly | State Farm | |
|---|---|---|
| Online quotes for home insurance? | No | Yes |
| Availability | 22 states | 50 states and Washington, D.C. |
| Mobile app available? | No | Yes |
| Extended replacement cost available? | No | Yes, 120% or 150% |
| Guaranteed replacement cost available? | Yes | No |
| Banned dog list? | No | No |
| Complaint level | Very low | Very low |
Openly vs. Allstate Home Insurance
Allstate offers more types of insurance and provides coverage in all states, but Openly could be an excellent choice if you’re looking for coverage that goes beyond your dwelling coverage limit and live in one of the states with Openly insurance.
| Openly | Allstate | |
|---|---|---|
| Online quotes for home insurance? | No | Yes |
| Availability | 22 states | 50 states and Washington, D.C. |
| Mobile app available? | No | Yes |
| Extended replacement cost available? | No | No |
| Guaranteed replacement cost available? | Yes | No |
| Banned dog list? | No | No, except in California |
| Complaint level | Very low | Very low |
Openly vs. Chubb Home Insurance
Chubb’s Masterpiece program offers expanded coverage with more generous extended replacement cost levels than Openly. Chubb doesn’t offer guaranteed replacement cost coverage, though. If you want to make sure your home gets rebuilt regardless of building costs, Openly’s guaranteed replacement cost coverage could be the better bet. Openly’s guaranteed replacement coverage covers up to $5 million to rebuild your home if it’s damaged by a problem covered by the policy.
| Openly | Chubb | |
|---|---|---|
| Online quotes for home insurance? | No | Yes |
| Availability | 22 states | 50 states and Washington, D.C. |
| Mobile app available? | No | Yes |
| Extended replacement cost available? | No | Yes, up to 200% of dwelling coverage limit |
| Guaranteed replacement cost available? | Yes | No |
| Banned dog list? | No | No |
| Complaint level | Very low | Very low |
Complaints about Openly Home Insurance
Rock Ridge Insurance Co. underwrites Openly policies. The level of complaints against Rock Ridge is much lower than industry average, based on complaints to state departments of insurance collected by the National Association of Insurance Commissioners.
Where Openly Excels
Openly stands out for its coverage enhancements for high-value properties.
Guaranteed replacement coverage of up to $5 million and replacement cost coverage of up to 150% of the dwelling coverage limit mean you don’t have to worry if costs to rebuild your house inflating end up exceeding your dwelling limit. These coverage features provide a cushion for unexpectedly high rebuilding costs, which can happen when a widespread disaster increases the demand for construction labor and materials.
Openly offers liability coverage up to $1 million, which is generous compared to competitors who sometimes offer only up to $500,000 or less.
Openly also lets you add onto a home insurance policy with expanded coverage for equipment breakdowns, landscaping, water seepage and identity theft. If you open up your house for short-term renters, you can get a home-sharing endorsement.
Where Openly Falls short
Openly doesn’t sell other types of insurance, so you must buy other coverage, such as car insurance, elsewhere.
Openly doesn’t have an app or offer online quotes. Instead you enter your information on Openly’s website and it connects you with an independent agent. That might not be ideal for those who want to do as much online as possible.
Openly home insurance is only available in 22 states and it doesn’t sell other types of insurance, so you won’t be able to centralize your policies with one company.
Additional Homeowners Insurance Providers to Explore
Many insurance companies offer home insurance, including:
Openly Home Insurance FAQ
How long has Openly insurance been around?
Openly was founded as MGA in Boston in 2017 by Ty Harris and Matt Wielbut. Harris is a former chief product officer at Liberty Mutual and Wielbut was a founding partner of two insurance technology companies. The company began using the Openly name in 2022.
Is Openly a legitimate insurance company?
Yes, Openly is a legitimate home insurance company and offers policies in 22 states.
Who is Openly Insurance backed by?
Rock Ridge Insurance Co. underwrites Openly insurance and Openly has received funding from multiple investors, including Gradient Ventures, Google’s artificial intelligence venture fund, Greenlight Re, PJC and Techstars Ventures.
