Openly Home Insurance Review: From an Industry Expert on Home Insurance – YA


Openly Home Insurance

A mere two years ago Ty Harris and Matt Wielbut founded Openly. From the carrier’s Boylston Street location in Boston they sell modern, high-end homeowners and landlord insurance products. Openly’s customizable property products are mostly meant for high value residences, specifically homes with a replacement cost between $250k and $3M. The company’s home insurance protects multiple occupancy types like primary, secondary, seasonal, and rental homes. Openly sells their policies in IL with plans to add AZ, KY, PA, and TN before the close of this year. 

The Protection

The foundation of Openly’s home insurance contract for primary and secondary residences is an enhanced ISO HO5. This policy includes guaranteed home replacement cost up to $5M on every home, as well as open peril. In addition, clients will find special protections like equipment breakdown, buried utility lines, and full coverage for water backup included in the default policy package. Most other property insurers offer this type of ancillary benefits but at an additional cost. 

Most rental policies are written on what’s known as Dwelling Fire contracts. Openly doesn’t do things the traditional way. Instead the company sells juiced up HO-3 policies to landlords which comes with robust coverages B, C, and E. Plus, replacement cost is immediately a part of Openly’s rental plan. 

The Carrier

Openly’s website presents a sleek and sophisticated take on boring ol’ home insurance. The carrier built their modern policies for owners of upmarket homes (think over $250k). The truly unique design of Openly’s coverage includes protections that are usually only optional add-ons. The best part is you only pay for the benefits you need and anything you find to be unnecessary can be stripped from the policy. 

Even the company’s pricing is fairly competitive considering the high coverage limits. The reason for their contrarian underwriting and pricing is because they use special actuarial tables which view potential insureds differently than standard insurers. For example, Openly won’t penalize customers with certain dog breeds or swimming pools. The home insurer also relies on technology such as ariel imagery data to identify possible risks. 

Openly is not an insurance carrier, but an MGA (managing general agency). This means they control the branding, pricing, and claims experience of your home policy, but someone else puts up the capital requirements required by the regulators (the insurance carrier). Openly uses Rock Ridge Insurance Company, an AM Best A- (Excellent) rated, admitted insurance carrier. 

Openly is very focused on customer service. Even the founders of the company, Matt and Ty, have a direct email any client can use to share their feedback! 

The Claims 

Openly is partnered with Crawford & Company to perform claims adjustment. As you may know, Crawford is a large, international carrier and the second largest third-party claims adjuster within the US. Openly’s website advises that most customers prefer to notify their agent of a new claim. However, clients may also contact Openly’s dedicated claims team directly by

  • email: openly@crawco.com
  • phone: 888-808-4842

It’s worth noting Openly offers special customer programs like Contractors Connections which provides recommendations and preferred rates for general home improvements. 

Where is Openly Home Insurance Available?



The Conclusion

Openly is a new carrier with a sleek, fresh approach to home insurance. Openly’s modern philosophy is to give premium customers exclusive access to customizable and competitive products that are backed by partners with impressive pedigrees. The company has spent two years perfecting their homeowners insurance in IL with plans to pop up in more states beginning next month. It seems that Openly is interested in protecting high valued homes in multiple states, as well as completely revolutionizing the industry along the way. Great work Openly team and welcome to the home insurance market! 

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At your service,
Young Alfred

Disclosure:  Openly is one of the many options Young Alfred offers for home insurance. Young Alfred did not receive any compensation or direction from Openly in writing this review.