Openly was founded in 2017 and brings together technology, data, and insurance expertise to provide comprehensive Homeowners Insurance coverage.
Currently Openly are active in Arizona, Illinois, Indiana, Kentucky, Massachusetts, New Mexico, Ohio, Pennsylvania, Tennessee, and Wisconsin with 7 additional states coming soon. They only offer premium homeowners insurance policies at this time. Eligibility is for multiple occupancy types including primary, seasonal, secondary, and rented to others.
Homeowner insurance coverage from Openly can include guaranteed replacement cost, open perils contents, and high water backup limits. Their policy also contains optional special endorsements like personal cyber, equipment breakdown, and home-sharing.
Openly has a Nsure.com insurance carrier rating of 5 out of 5 stars based on our research.
Their premium homeowner plan offers customers transparency, simplicity, and trust. They are not Better Business Bureau accredited.
Our carrier rating takes into account several factors about the insurer, our industry-experienced research, policyholder’s feedback, and other publicly available data. We also take into account the carrier’s financial stability, organizational structure, and history as well as their historical claims payout data to generate our comprehensive carrier profiles with a low to high rating of between 1 to 5 stars.
Openly has an A.M. Best Credit Rating of “A or Excellent”, a Credit Rating scoring opinion of an insurer’s financial strength and ability to meet their ongoing insurance policy and contractual obligations.
They do not have a Financial Stability Rating from Demotech Inc. for their long-term stability. Financial Stability Ratings (FSRs) are a leading indicator of the financial stability of Property and Casualty insurers.
AM Best is an independent insurance rating agency that provides credit ratings and financial data products for the insurance industry. Demotech Inc. specializes in providing ratings and detailed financial analysis of regional and specialty insurers.