Openly Insurance Review 2023
Openly was launched in 2017 by Ty Harris and Matt Wielbut. The carrier sells contemporary, upscale landlord and homeowner insurance products from its Boylston Street office in Boston.
The majority of Openly’s customizable real estate solutions are designed for high-value properties, which are defined as those with replacement costs between $250k and $3M.
Multiple occupancy kinds, including primary, secondary, seasonal, and rental houses are covered by the company’s home insurance. IL, AZ, TN, PA, KY, OH, WI, IN, MA, and NM allow the open sale of their insurance.
The website for Openly offers a novel perspective on house insurance. For owners of upscale residences, the carrier created its contemporary policies. Protections that are typically only available as add-ons are included in Openly’s coverage due to its innovative architecture. The best aspect is that you may opt out of any coverage you don’t need and just pay for the advantages you do need.
Given the substantial coverage restrictions, the company’s pricing is rather competitive. Because the firm utilizes distinctive actuarial tables that see potential insureds differently than traditional insurers, their contrarian underwriting and pricing make sense.
As an illustration: Openly won’t charge extra for consumers who have specific dog breeds or swimming pools. In order to identify potential dangers, the house insurer also uses technology, such as aerial photography data.
Openly is a managing general agency, not an insurance company. Your home policy’s branding, cost, and claims experience are all under openly’s control, but an insurance provider provides the cash necessary by the regulators. It has financial support from Rock Ridge Insurance Company, an approved insurance company with an AM Best A- (Excellent) rating.
Openly places a high priority on customer service. Even the company’s founders, Matt and Ty, have a direct email that customers may utilize to provide feedback.
Crawford & Company and Openly have a partnership for claims adjustment. The second-largest third-party claims adjuster in the US is Crawford, a sizable worldwide carrier. The majority of clients prefer to notify their agent of a new claim, according to the Openly website. Customers may also get in touch with their devoted claims team directly by