The Policy Administration Fee covers fixed costs Openly bears in conjunction with producing and administering policies. It is a separate fee from the premium, which is the amount paid for the actual insurance coverage, and commission isn't paid on the policy fee.
The Policy Administration Fee amount varies by state and will be applied to the annual premium at new business and each subsequent renewal.
There will no longer be a Policy Administration Fee for policies in Delaware quoted on or after 4/23/2026 and renewals generated on or after 6/23/2026.
This includes:
- Underwriting report costs
- Policy production costs
- Billing costs
- Inspection costs
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