Openly home insurance review begins with a company that has redefined premium home coverage since its founding in 2017. Openly is a Boston-based insurtech that designs and distributes homeowners insurance through independent agents. The company writes policies through two admitted carriers: Rock Ridge Insurance Company and MS Transverse Insurance Company. Openly currently serves homeowners in 24 states across the United States.
What sets this company apart is its HO-5 open-perils policy form. This provides broader protection than the standard HO-3 policies most carriers offer. Openly also offers guaranteed replacement cost coverage up to $5 million. For homeowners seeking premium protection at competitive rates, this openly home insurance review breaks down everything you need to know before purchasing a policy.
Openly Overview and Financial Strength
Openly was founded in 2017 by Ty Harris and Matt Wielbut. The company is headquartered in Boston, Massachusetts. Unlike traditional carriers, Openly operates as a managing general agent. It designs the insurance product and pricing while partner carriers handle the underwriting. This model allows Openly to combine insurtech innovation with established financial backing. The company focuses on high-value and mid-range homes. Coverage is currently available in 24 states including Alabama, Arizona, Connecticut, Georgia, Illinois, Indiana, Ohio, Pennsylvania, South Carolina, Tennessee, Virginia, and Wisconsin.
Financial strength is a critical factor in any openly home insurance review. Openly’s policies are backed by two carriers with strong AM Best ratings. Rock Ridge Insurance Company holds an AM Best A- (Excellent) rating with a Financial Size Category of VIII. This means pooled surplus exceeds $105 million.
MS Transverse Insurance Company carries an even higher AM Best A (Excellent) rating. Both carriers are admitted insurers, which means state guaranty funds protect policyholders if the carrier becomes insolvent. However, Openly is not large enough to appear in JD Power’s annual home insurance study. As a result, no standalone JD Power score exists for the company.
Customer complaint data tells a positive story. According to the NAIC, the complaint index is approximately 0.30. The national median is 1.0, so this score is well below average. On Trustpilot, Openly earns a 4.7 out of 5 rating. The Better Business Bureau gives Openly an A rating. NerdWallet awards the company 4.5 out of 5 stars for overall performance.
| Rating Source | Score / Grade |
|---|---|
| AM Best (Rock Ridge) | A- (Excellent) |
| AM Best (MS Transverse) | A (Excellent) |
| NAIC Complaint Index | 0.30 (below 1.0 median) |
| BBB Rating | A |
| Trustpilot | 4.7 / 5 |
| NerdWallet | 4.5 / 5 |
Openly Home Insurance Review: Coverage Options
This section of our openly home insurance review covers what protection you actually get. Openly offers HO-5 policies in most states. This is significant because HO-5 coverage protects against all perils unless specifically excluded. Standard HO-3 policies only cover named perils for personal property. With Openly, both your dwelling and belongings receive open-perils protection. Dwelling coverage can reach up to $5 million with guaranteed replacement cost. If your home is destroyed, Openly pays whatever it costs to rebuild it as it was.
Personal property coverage typically ranges from 50% to 70% of your dwelling limit. Openly offers both replacement cost and actual cash value options. In most cases, replacement cost is the better choice. It pays to replace items at current prices without depreciation. Liability coverage protects against lawsuits if someone is injured on your property. Additional living expenses coverage pays for temporary housing if your home becomes uninhabitable. Openly also covers all dog breeds as long as the animal has no aggression history. Many carriers exclude specific breeds, so this is a notable advantage.
Optional coverages strengthen your policy further. Equipment breakdown coverage handles mechanical and electrical failures in home systems. Water backup coverage protects against sewer and drain overflow damage. Ordinance or law coverage pays the extra cost to rebuild to current building codes. Identity theft protection is also available. For example, if you host guests through platforms like Airbnb, Openly offers home-sharing coverage. This is an endorsement many traditional insurers do not provide.
Openly Home Insurance Discounts
Every openly home insurance review should examine ways to save money. Openly offers several discounts, though exact percentages vary by state. You must work with an independent agent to determine your eligibility. Openly does not sell policies directly to consumers. Your agent can apply all qualifying discounts during the quoting process. Typically, combining multiple discounts can reduce your premium significantly.
Available discounts include claims-free savings for homeowners with clean records. New home discounts reward recently constructed properties. Security system discounts apply when you have monitored burglar or fire alarms. Loyalty discounts benefit long-term policyholders. Multi-policy bundling discounts may also be available through your independent agent. Many homeowners also compare auto insurance rates at Car Cover Guide because bundling home and auto coverage often produces the biggest savings. Gated community discounts and new roof discounts round out the available options.
| Discount Type | Eligibility |
|---|---|
| Claims-Free | No claims in prior 3-5 years |
| New Home | Recently built or purchased home |
| Security System | Monitored alarm or fire system |
| Loyalty | Continuous coverage with Openly |
| Multi-Policy Bundle | Multiple policies through same agent |
| Gated Community | Home in gated or secured community |
| New Roof | Recently replaced roof |
Openly Home Insurance Cost
Cost is a central concern in any openly home insurance review. On average, Openly homeowners insurance costs approximately $1,337 per year. This is below the national average of roughly $2,490 annually for $400,000 in dwelling coverage. However, your actual premium depends on many factors. Home value, location, roof age, claims history, and chosen coverage limits all affect pricing. Deductible selection also plays a major role in your final rate.
Openly targets mid-range to high-value homes. As a result, their pricing is competitive for homes that might cost more to insure elsewhere. The HO-5 policy form provides broader coverage, yet rates remain reasonable. For homeowners with newer roofs and clean claims histories, Openly often delivers strong value. Saving on insurance premiums frees up money for other financial goals. For example, you can find bank sign-up bonuses at Bonus Bank Daily to put those savings to work in high-yield accounts.
To get a personalized quote, you need to contact an independent agent. Openly does not provide online quotes directly. You can find a local agent through the Openly website or by calling 857-396-0889. In most cases, agents can generate quotes quickly using Openly’s modern digital platform. The quoting process typically takes just minutes.
Openly Claims Process and Customer Service
Filing a claim is straightforward in this openly home insurance review assessment. You can report claims through your independent agent or directly with Openly. The company offers a digital-first claims experience. This means you can start the process online or through mobile tools. Openly emphasizes speed and simplicity in claims handling. Their technology-driven approach aims to reduce the friction homeowners typically experience.
Customer service is a strong point for Openly. The company’s low NAIC complaint index of 0.30 supports this. Both policyholders and agents consistently praise Openly’s responsiveness. Trustpilot reviews highlight quick communication and helpful support staff. However, because Openly sells exclusively through independent agents, your day-to-day service experience depends partly on your agent. Choosing a responsive, knowledgeable agent matters. Openly does not have a standalone mobile app for policyholders at this time.
For claims involving guaranteed replacement cost, Openly pays the full rebuilding expense up to your policy limit. There is no depreciation penalty on dwelling claims. This gives homeowners peace of mind after catastrophic events. Typically, the claims team works with licensed contractors to ensure accurate repair estimates.
Pros and Cons of Openly Home Insurance
Pros:
- HO-5 open-perils policy provides broader coverage than standard HO-3 plans
- Guaranteed replacement cost up to $5 million ensures full rebuilding coverage
- Below-average premiums at approximately $1,337 per year
- Excellent NAIC complaint index of 0.30, well below the 1.0 national median
- Unique coverages including home-sharing, equipment breakdown, and all-breed dog acceptance
Cons:
- Available in only 24 states, excluding major markets like California, Florida, and New York
- No direct-to-consumer purchasing — must work with an independent agent
- No standalone mobile app for policyholders to manage their accounts
- Not rated by JD Power due to smaller market size
Who Is Openly Home Insurance Best For?
This openly home insurance review concludes with clear recommendations. Openly is best for homeowners who want premium HO-5 coverage without premium pricing. If you own a mid-range to high-value home, Openly’s guaranteed replacement cost up to $5 million is a strong benefit. The company works especially well for homeowners with newer or well-maintained properties. Clean claims histories and updated roofs unlock the most competitive rates.
Openly is also ideal for homeowners who prefer working with independent agents. If you value personalized service and local expertise, this model fits well. Homeowners who rent their property on Airbnb or similar platforms benefit from the home-sharing endorsement. As a result, Openly stands out for hosts who need flexible coverage. Pet owners with restricted breeds will appreciate the all-breed dog policy.
However, Openly is not the best fit for everyone. If you live outside their 24-state footprint, you cannot purchase a policy. Homeowners who prefer fully digital self-service may find the agent-only model inconvenient. In most cases, though, this openly home insurance review shows that Openly delivers strong coverage, competitive pricing, and excellent customer satisfaction for homeowners in eligible states.
Frequently Asked Questions
Is Openly a legitimate home insurance company?
Yes, Openly is a legitimate insurtech company founded in 2017. Its policies are underwritten by AM Best-rated admitted carriers, Rock Ridge Insurance Company and MS Transverse Insurance Company. As a result, policyholders receive the same consumer protections as any traditional insurer.
How do I get an Openly home insurance quote?
You must contact an independent insurance agent to get an Openly quote. The company does not sell directly to consumers or offer online quotes. However, agents can typically generate quotes in minutes using Openly’s digital platform.
What makes an openly home insurance review stand out from other carriers?
Openly offers HO-5 open-perils policies, which provide broader protection than the standard HO-3 form. In most cases, this means your personal property is covered against all risks unless specifically excluded. Combined with guaranteed replacement cost up to $5 million, Openly delivers coverage that many competitors cannot match at similar price points.
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Official Sources & Resources
For verified information on home insurance ratings and regulations:
- AM Best (Financial Strength Ratings): ambest.com
- NAIC (Complaint Ratios): naic.org
- Insurance Information Institute: iii.org
- FEMA (Flood Insurance): fema.gov
- J.D. Power (Customer Satisfaction): jdpower.com
Content last reviewed April 2026. If you notice any outdated information, please contact us.