The InsurTech built for high-value home coverage — guaranteed replacement cost standard, 25+ coverage options, and a platform built to empower independent agents. Here's what we've learned since 2020.
Openly was founded in 2017 in Boston by Ty Harris — Liberty Mutual's former Chief Product Officer — and Matt Wielbut, a former Vice President of Technology at Goldman Sachs. The company was built on a specific thesis: high-value home insurance could be dramatically better if you started with technology, independent agents, and a product designed around what homeowners actually need rather than what legacy systems make easy to deliver. Openly is backed by Google's AI-focused venture fund Gradient Ventures, Greenlight Re, and other institutional investors. Coverage is underwritten by Rock Ridge Insurance Company, a subsidiary of Clear Blue Insurance Group, rated A- Excellent by AM Best.
Openly sells exclusively through independent agents — there is no direct-to-consumer channel. Their agent platform is built to make quoting fast and accurate, using data-driven pricing that analyzes location-specific risk profiles rather than relying solely on traditional rating factors. The result is a product that NerdWallet rates 4.5 out of 5 stars and describes as the best choice for high-value homes — with guaranteed replacement cost coverage standard in most states, up to $5 million in dwelling coverage, and 25+ coverage options that go well beyond what standard market carriers include.
Options Insurance has been appointed with Openly since 2020. The important context for our Minnesota clients: Openly is not currently available in Minnesota. We place Openly coverage for clients in the 24 states where they operate — Wisconsin being the closest to our home market. For clients who relocate to or own property in an Openly-eligible state, this becomes a first-look carrier for high-value home coverage. Their NAIC complaint index showing 90%+ fewer complaints than peers of their size is one of the most compelling data points in our portfolio for a carrier this young.
Since 2020, here's what consistently sets Openly apart in the states where they're available — a product designed from the ground up for high-value home coverage.
Guaranteed replacement cost is the standout feature — and Openly includes it standard in most states rather than as an expensive add-on. If your home is destroyed, Openly pays whatever it costs to rebuild, up to $5 million, even if that exceeds your policy's stated dwelling limit. Most carriers offer extended replacement cost at 125–150% of the dwelling limit; guaranteed replacement cost removes the cap entirely. For clients with high-value homes where construction costs have escalated, this is the coverage that means clients never have to worry if their limit is enough.
Openly's coverage menu goes well beyond what standard market carriers include. Standard on most policies: mold and fungi remediation, water seepage coverage ($20K), other structures, refrigerated property coverage ($5K), tree removal ($5K). Optional endorsements available: equipment breakdown, water backup, buried service lines, personal cyber, home-sharing/short-term rental, earthquake. The breadth and quality of these options — particularly water seepage and mold, which many standard carriers exclude or severely limit — makes Openly's policy genuinely more comprehensive than what most competitors offer at the same price point.
Openly does not exclude coverage based on dog breed. Most carriers maintain exclusion lists for breeds considered high-risk — bully breeds, Dobermans, Rottweilers, German shepherds, huskies, Akitas, and others. For homeowners with these breeds, finding standard market homeowners coverage can be difficult or expensive. Openly's breed-neutral underwriting eliminates this barrier entirely. It's a feature that matters more to the clients who need it than any data point about coverage limits.
Openly's agent-facing platform was designed from the beginning to be fast and efficient. Their AI-driven pricing model pulls location-specific risk data to produce accurate quotes quickly without the manual data entry that legacy carrier systems require. For agents, this means more time advising clients and less time entering information into systems. The platform was built to empower independent agents rather than replace them — a design philosophy that shows in how the tools work day-to-day.
For a carrier that has only existed since 2017, Openly's NAIC complaint data is exceptional — 90%+ fewer complaints than comparable carriers of their size. Trustpilot shows 4.8 stars. NerdWallet rates them 4.5 stars with a "Best for High-Value Homes" designation. For a young carrier without the decades of track record that Travelers or Chubb have, this third-party data provides meaningful signal that Openly's claims and service operations are performing well from the start.
Openly does not sell direct. Every policy goes through an independent agent. Their founder Ty Harris — Liberty Mutual's former CPO — built Openly specifically to show that modern technology and independent agents are complementary, not competing forces. The result is a carrier whose product and platform are designed around what agents and clients actually need, not what makes direct sales easier. For clients placed through Options Insurance, that alignment shows in how the coverage is explained, customized, and managed.
No carrier is perfect. Here are the honest gaps to know before placing with Openly.
This is the most significant gap for Options Insurance clients. Openly is not currently available in Minnesota. We hold our appointment for clients who own property or relocate to one of their 24 eligible states — with Wisconsin being the closest to our core market. For Minnesota homeowners, we use other carriers in our portfolio. Openly has stated plans to expand, so Minnesota availability may come in the future.
Openly does not have a mobile app. Policy management, payments, and claims are handled through their web portal or by phone. For clients who want to manage everything from their phone, this is a real limitation for a carrier that positions itself as tech-forward. The web portal works on mobile browsers as a workaround, but it's not a purpose-built app experience.
Openly hasn't been included in J.D. Power's satisfaction or claims studies because they're too new. The NAIC complaint data and Trustpilot reviews are the best available third-party signals — both are excellent. But the absence of J.D. Power benchmarking is worth acknowledging for clients who rely on those studies to compare carriers.
Openly was founded in 2017. Eight years in business is a short track record compared to established carriers. Their NAIC complaint data and customer reviews are excellent, but a carrier's true test comes during a regional catastrophe that generates thousands of simultaneous claims. Openly hasn't yet faced that test at scale. Their reinsurance backing provides financial support, but long-term operational resilience is unproven.
Since 2020, here's an honest picture of who belongs with Openly — and the important caveat that Minnesota clients can't access them yet.
"We place clients with Openly when they are available in their state and the home qualifies. Guaranteed replacement cost coverage really lands with my clients — they like knowing their house will be rebuilt in the event of a catastrophe without having to worry if their limit is enough. For high-value homes in eligible states, Openly's coverage depth and guaranteed replacement cost make them a first-look carrier."
— Janel Morris, Personal Lines Agent, Options Insurance
Already an Openly client through Options Insurance? Here are the resources you need.
Available Monday–Friday by phone. You can also file online at fnol.openly.com (available 24/7) or email hi@openly.com. Your Options Insurance agent can also help initiate and coordinate a claim on your behalf.
Monday–Friday during business hours, plus live chat on openly.com. For most policy changes and questions, your Options Insurance agent is the fastest route — we manage Openly relationships directly and can handle most service needs without routing you through Openly's phone line.
Manage your policy, make payments, view documents, and file claims through Openly's web portal. Openly does not have a mobile app — the web portal is the primary self-service tool and works on mobile browsers. Openly also offers a Managed Repair Program to connect clients with vetted contractors after a claim.
Openly offers a Managed Repair Program that connects clients with vetted contractors for post-claim repairs. This is an optional service — clients can use their own preferred contractors. For clients without established contractor relationships, this program removes a significant source of post-claim friction. Ask your Options Insurance agent about how this program works in your state.
Janel is Options Insurance's lead agent for Openly placements. She places Openly for clients in eligible states who have high-value homes and want coverage depth that standard market carriers don't provide. "Guaranteed replacement cost coverage really lands with my clients. They like knowing their house will be rebuilt in the event of a catastrophe without having to worry if their limit is enough."
Tell us a little about what you need. One of our agents will follow up — usually same business day.
No obligation. We'll confirm your state eligibility and find the right fit.
We'll confirm your property is in an Openly-eligible state and get you the coverage depth your high-value home deserves.
Start Your Free Quote →The opinions expressed on this page reflect the experience of Options Insurance agents based on policies placed and client feedback received over 15 years. Individual results may vary. Options Insurance is appointed with Openly as an independent agent. This review is not sponsored, approved, or endorsed by Openly. AM Best, J.D. Power, and NAIC data are sourced from publicly available reports and are cited for informational purposes. Ratings are subject to change. Openly is not currently available in Minnesota. Coverage is underwritten by Rock Ridge Insurance Company, a subsidiary of Clear Blue Insurance Group, rated A- Excellent by AM Best. Guaranteed replacement cost availability and conditions vary by state. Comparison data is based on publicly available third-party research. Coverage availability and terms vary by state, risk profile, and underwriting criteria. This page does not constitute a coverage guarantee or binding commitment.