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Openly Home Insurance Review 2024
Lead Writer | Home insurance, renters insurance, pet insurance
Sarah Schlichter is a NerdWallet authority on homeowners, renters and pet insurance. Prior to joining NerdWallet, she spent more than 15 years in digital media as a writer, editor and spokesperson. Sarah enjoys delving into complicated topics and helping readers understand the ins and outs of their insurance coverage. She lives in the Washington, D.C., metro area.
Assigning Editor | Home insurance, renters insurance, pet insurance
Caitlin Constantine is an assigning editor at NerdWallet, focusing on homeowners, renters and pet insurance. She has more than 15 years of experience in digital media, including as the deputy managing editor at The Penny Hoarder and as a digital producer for a 24/7 news station based in the Tampa Bay area. Caitlin enjoys exploring the ways technology can help people become better informed about the world. She currently lives outside Asheville, North Carolina.
Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.
Openly
4.5
Coverage optionsRatings are based on the number of coverage options a company offers in comparison to other insurers.
DiscountsRatings are based on the number of discounts a company offers in comparison to other insurers.
NAIC complaintsRatings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Pros
- Policies include guaranteed replacement cost for your home's structure.
- Broad coverage for personal belongings.
- No restricted dog breeds.
Cons
- No online quotes.
- Not available in all states.
Openly
4.5
Coverage optionsRatings are based on the number of coverage options a company offers in comparison to other insurers.
DiscountsRatings are based on the number of discounts a company offers in comparison to other insurers.
NAIC complaintsRatings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Pros
- Policies include guaranteed replacement cost for your home's structure.
- Broad coverage for personal belongings.
- No restricted dog breeds.
Cons
- No online quotes.
- Not available in all states.
About Openly home insurance
4.5
NerdWallet ratingOpenly homeowners insurance earned 4.5 out of 5 stars for overall performance. Openly sells premium coverage primarily to owners of high-value homes. Its policies include features that typically cost extra from other insurers, if they’re available at all. The company sells insurance exclusively through independent agents.
Our star ratings are based on consumer complaint data from the National Association of Insurance Commissioners; financial strength grades from AM Best; coverage and discounts available; and the overall consumer experience. See our criteria for evaluating home insurance companies.
Our writers and editors follow strict editorial guidelines that ensure fairness and accuracy in order to help you choose the financial products that work best for you.
Where Openly stands out
Generous coverage. Not all insurance companies offer guaranteed replacement cost coverage for your dwelling, and having it included in a standard policy is even more rare.
No dog breed restrictions. While some companies refuse to insure certain breeds such as pit bulls or Dobermans, Openly will provide liability coverage for any dog as long as it doesn’t have a history of aggression. Learn more about homeowners insurance and dog bites.
Where Openly falls short
Online presence. With no mobile app and no online quote feature, Openly doesn’t offer as extensive a digital experience as many larger insurers.
State availability
Openly insurance is currently available in 22 states.
Openly home insurance coverage
You can customize your homeowners policy with numerous add-ons, but below are the types of coverage that generally come standard:
Type of coverage | What it does |
---|---|
Pays to repair or rebuild the structure of your home. | |
Covers damage to unattached structures such as sheds or fences. | |
Pays to repair or replace personal belongings such as furniture or clothing. | |
Pays for hotel stays, restaurant meals or other expenses if you have to live elsewhere while your home undergoes covered repairs. | |
Covers legal expenses and damages if you're responsible for injuries to other people or their property. | |
Covers injuries to guests in your home, regardless of fault. |
For more details, see What Does Homeowners Insurance Cover?
Openly’s default homeowners policy goes significantly beyond these basic coverage types. Most notably, it offers guaranteed replacement cost coverage for the structure of your home. That means if your house is destroyed by a covered disaster, Openly will pay whatever it takes to rebuild it the way it was before, up to $5 million.
Openly also offers generous coverage for your personal belongings. Most homeowners policies cover your stuff on a “named perils” basis, meaning that they’ll pay for damage only from causes specifically named in your policy. Openly covers your belongings on an “open perils” basis instead, paying for damage from anything except perils your policy excludes.
If your things are stolen or destroyed, Openly will pay enough for you to buy brand-new replacements, rather than paying less for older items that have lost value over time.
Openly policies also include the following:
Ordinance or law coverage, which pays to bring your home up to current building codes during covered repairs.
Water seepage coverage, which pays for rot or other damage due to hidden water leaks.
Coverage for refrigerated property, such as food that goes bad when lightning knocks out your electricity.
Landscaping coverage to replace or repair damaged trees or other plants.
Fungi/mold coverage for property damage or liability claims due to mold, rot or bacteria.
Depending on where you live, you may be able to add the following optional types of coverage:
Water backup, which pays for damage due to sump pump failure or backed-up sewers or drains.
Home-sharing coverage for people who occasionally rent out all or part of their house.
Buried service lines, which pays to fix damage to underground utility lines you’re responsible for.
Equipment breakdown, which covers appliances if they have a mechanical or electrical failure.
Blanket or scheduled property for valuable items.
Personal cyber, which can help you recover from hacks and other online threats.
Earthquake, sinkhole or mine subsidence for homeowners who live in areas where these are a risk.
Home under construction for theft of building supplies from a new house that isn’t ready to live in yet.
Discounts
The company offers a bundling discount if you buy your Openly policy and an auto insurance policy from the same agent.
You may also be able to save by strengthening your home against windstorm damage, getting an advance quote before your policy takes effect or by choosing to have documents delivered electronically.
Discounts vary by state.
Consumer complaints
Openly received far fewer than the expected number of home insurance complaints to state regulators relative to its size, according to three years’ worth of data from the National Association of Insurance Commissioners. (NAIC home insurance complaints also cover other home policy types, including mobile home, renters and condo insurance.)
Consumer experience
Website: The Openly website has a sleek, elegant design, but it’s short on coverage details and lacks an online quote function. Instead, you can submit your details in an online form and the company will match you with a local agent.
App: Openly doesn’t offer a mobile app.
Claims: You can file an Openly claim online, by calling your agent or by calling the company at 888-808-4842. Learn more about how to file a home insurance claim.
Customer service: You can contact Openly by submitting a request form on its website, calling 888-808-4842 or using the website’s live chat function.
The bottom line
Openly may be a good fit for you if coverage is important to you and you like speaking with an agent to make sure you have what you need. Openly tends to insure higher-value homes.
Openly may not be right for you if you’d prefer to manage your policy online, starting with an initial quote.
Other insurance companies to consider
Not ready to make a decision? You may be interested in these other homeowners insurance companies:
Current Product
NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. 4.5 /5 | NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. 5.0 /5 | NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. 5.0 /5 |
Complaints to NAIC Ratings are based on complaints to state regulators relative to a company's size, according to three years' worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Far fewer than expected | Complaints to NAIC Ratings are based on complaints to state regulators relative to a company's size, according to three years' worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Far fewer than expected | Complaints to NAIC Ratings are based on complaints to state regulators relative to a company's size, according to three years' worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Far fewer than expected |
Coverage Ratings are based on the types of coverage a company offers in comparison to other insurers. About average | Coverage Ratings are based on the types of coverage a company offers in comparison to other insurers. About average | Coverage Ratings are based on the types of coverage a company offers in comparison to other insurers. More than average |
Discounts Ratings are based on the number of discounts a company offers in comparison to other insurers. Average set of discounts | Discounts Ratings are based on the number of discounts a company offers in comparison to other insurers. Average set of discounts | Discounts Ratings are based on the number of discounts a company offers in comparison to other insurers. Great set of discounts |
Bottom line Premium coverage for high-end homes with no dog breed restrictions. | Bottom line Well-established insurer known for great customer service. | Bottom line Perks and high coverage limits for affluent homeowners. |
Openly sells only homeowners insurance. Its policies are available for primary homes, vacation or secondary homes, and houses used as rental properties.
Openly was founded in 2017. Its underwriter, Rock Ridge Insurance, was founded in 2001.
Openly has received funding from a number of venture capital firms. Its policies are underwritten by Rock Ridge Insurance Company, part of the Clear Blue Insurance Group. However, the company expects to start issuing some of its own policies in the future.
Openly sells only homeowners insurance. Its policies are available for primary homes, vacation or secondary homes, and houses used as rental properties.
Openly was founded in 2017. Its underwriter, Rock Ridge Insurance, was founded in 2001.
Openly has received funding from a number of venture capital firms. Its policies are underwritten by Rock Ridge Insurance Company, part of the Clear Blue Insurance Group. However, the company expects to start issuing some of its own policies in the future.
Methodology
Homeowners insurance star ratings methodology
NerdWallet’s homeowners insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, coverage, discounts and online experience. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our full ratings methodology for home insurance.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2020-2022. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.
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