Quick answer: Openly is a premium home insurance carrier available in Illinois that writes its homeowners policies on an HO-5 form. Compared with a standard HO-3 policy, that means broader coverage for your belongings, guaranteed replacement cost on your home, and many extras built in. Openly sells only through independent agents, and it's our go-to for Chicago and Illinois homeowners who want stronger protection.
If you own a home in Chicago or anywhere in Illinois, you've probably noticed that two home insurance policies with similar prices can cover very different things. The difference usually shows up at the worst moment, after a claim. That's why we often point homeowners who want stronger protection toward Openly, a premium carrier known for a tech-forward approach and a great claims experience.
What Makes Openly a Premium Home Insurance Option
Most standard homeowners insurance policies are written on an HO-3 form. Openly writes on an HO-5 form, which gives you broader coverage, especially for your belongings. Here's what that means in plain terms.
HO-3 vs. HO-5 at a glance
| Standard HO-3 policy | Openly HO-5 policy | |
|---|---|---|
| Your house | Covered for anything not excluded | Covered for anything not excluded |
| Your belongings | Only a named list of perils, like fire or theft | Anything not excluded, including many accidents |
| Rebuilding cost | Usually capped at your dwelling limit | Guaranteed replacement cost, up to $5 million |
| Building code upgrades | Often a small percentage of the dwelling limit | Up to the full rebuild value of your home |
What Openly's HO-5 Policy Covers
Your belongings get the broadest type of coverage. Many policies only cover your stuff for a specific list of events, like fire or theft. Openly covers your belongings for anything that isn't specifically excluded, so accidents like a dropped TV or a paint spill on the couch can be covered.
Guaranteed replacement cost: if your home is destroyed, they'll pay to rebuild it. Even if construction costs more than expected. A jump in material or labor prices doesn't leave you short, which matters more than ever with rebuilding costs leaving many Illinois homes underinsured.
You can take a cash payout instead of rebuilding. After a total loss, you can choose a payout without depreciation if you'd rather move on.
Help bringing an older Chicago home up to code. Chicago has plenty of older homes: frame cottages, greystones, and two-flats. When part of one is damaged, the city often requires updated wiring, plumbing, or other code work. Openly can cover those extra costs, up to the full rebuild value of your home. Our guide to home insurance for older Chicago homes explains why this coverage matters.
More coverage for slow, hidden leaks. A pipe that's been dripping inside a wall can cause rot and damage over time, and many policies won't cover it. Openly includes some coverage for this.
Better protection for valuables. Most policies cap what they'll pay for jewelry, watches, or collectibles. Openly can extend that coverage across those categories with no deductible.
Condo and HOA owners are protected against association assessments. If your association bills owners after a covered loss to the building, Openly includes up to $100,000 to help pay your share. If you own a unit, see our Chicago condo insurance guide.
The little things are included. Landscaping, fallen tree removal, food spoiled during a power outage, replacing locks if your keys are stolen, and fraud on your bank or credit cards.
Openly Add-Ons Worth a Look in Illinois
- Water backup from sewers, drains, or sump pumps, with high limits available. This is a big one in Chicago basements, where the combined sewer system backs up in heavy rain. Read more in our sump pump and sewer backup coverage guide.
- Equipment breakdown for home systems and appliances, like your furnace or AC.
- Service line coverage for damage to underground water, sewer, or electrical lines running to your house. See service line coverage for Chicago homeowners.
- Identity theft and cyber protection.
- Home-sharing coverage if you rent out your home short-term.
Coverage That Fits Your Home
Openly lets us set your coverage for detached structures, belongings, and living expenses to fit your situation, instead of using one-size-fits-all percentages. A Bucktown two-flat with a detached garage and a Portage Park bungalow full of family heirlooms need different numbers, and Openly lets us build the policy around each one.
Why You Get Openly Through an Independent Agent
Openly doesn't sell directly to consumers. It works only with independent agents, which is why you won't find it on a captive agent's menu. As an independent insurance agency in Chicago, we can quote Openly alongside other carriers and show you which policy fits your home and budget. Here's more on independent vs. captive agents. Own a home across the state line? See Openly home insurance in Indiana.
Is Openly Right for Your Home? A Checklist
- Pull the declarations page from your current homeowners policy.
- Check whether it's an HO-3 or HO-5 form.
- Confirm your dwelling limit matches today's rebuild cost, and whether you have guaranteed or extended replacement cost.
- Look up your building code (ordinance or law) limit, especially for an older home.
- Check the caps on jewelry, watches, and collectibles.
- Find your water backup limit, or confirm whether you have it at all.
- If you own a condo, check your loss assessment limit.
- Ask for an Openly quote at the same limits so you can compare side by side.
The Bottom Line
For Illinois homeowners who want more than a basic policy, Openly's HO-5 coverage closes many of the gaps we see after claims: belongings, rebuilding costs, code upgrades, and valuables. Want to see how Openly compares to your current policy? Contact Six Corners Insurance and we'll walk you through a home insurance quote side by side, or call us at (312) 651-6759.
Coverage, limits, and availability vary by state and by home. Your quote and policy documents show exactly what's included.
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Frequently Asked Questions
Is Openly home insurance available in Illinois?
Yes. Openly writes homeowners insurance in Illinois, including Chicago and the suburbs. Openly sells only through independent insurance agents, so you get a quote through an agency like Six Corners Insurance rather than directly from the company.
What is the difference between an HO-3 and an HO-5 policy?
Both cover your house against anything not specifically excluded. The difference is your belongings. An HO-3 covers personal property only for a named list of perils, like fire or theft. An HO-5, which is how Openly writes its homeowners policies, covers your belongings for anything not excluded too, so more accidental damage can be covered.
What is guaranteed replacement cost coverage?
Guaranteed replacement cost pays to rebuild your home after a covered loss even if construction costs more than your dwelling limit. Openly offers it for homes with a rebuild value up to $5 million, which protects you if material or labor prices jump before you rebuild.
Does Openly cover sewer and sump pump backup in Chicago?
Not automatically. Water backup from sewers, drains, and sump pumps is an add-on with Openly, as it is with most carriers, but high limits are available. For a Chicago home with a basement, it is one of the first add-ons we recommend.
Is Openly more expensive than a standard home insurance policy?
Openly is a premium carrier, so its price can be higher than a basic HO-3 policy, but it includes coverage many policies charge extra for or leave out. The best way to judge it is to compare an Openly quote side by side with your current policy at the same limits.
