Openly offers an Advance Quote Discount for policies quoted at least eight days prior to their effective date. To help secure this rate automatically, the system typically defaults the effective date on new quotes to eight days from the creation date.
Key Discount Guidelines
- Timing Adjustments: Moving the effective date closer to the quote creation date (fewer than eight days out) may result in the discount being removed from the term premium.
- Cancel / Rewrites: For a cancel and rewrite, the Advance Quote Discount is non-transferable to the newly generated policy.
- Renewals: The discount amount typically decreases or steps down gradually over subsequent renewal terms.
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