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.
The above is meant as general information. This information does not modify any provisions, limitations, or exclusions expressly stated in any insurance policy. Descriptions of all coverages and other features on this page are necessarily brief; in order to fully understand the coverages and other features of a specific insurance policy, we encourage you to read the applicable policy. Whether an accident or other loss is covered is subject to the terms and conditions of the actual insurance policy or policies involved in the claim. References to general claims handling steps, average or typical premiums, amounts of losses, deductibles, costs of coverages/repair, etc., are illustrative and may not apply to your situation.
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