Louisiana Insurance Commissioner OKs SureChoice, Elevate Homeowners Rate Drops

Louisiana Insurance Commissioner Tim Temple approved SureChoice Underwriters Reciprocal Exchange and Elevate Reciprocal Exchange’s requests for a 7.5% average rate decrease on the carriers’ more than 73,000 homeowners policyholders and 17,000-plus dwelling policyholders.

Related: Why Reciprocal Insurance Exchanges Are Back in Fashion

The changes, which are statewide averages and vary based on individual risk, take effect on Feb. 16, 2026.

SURE, the second largest homeowners insurer in Louisiana, writes roughly 8% of the market. Elevate is a Goosehead-exclusive insurer. SURE and Elevate are member-owned coastal homeowners insurance providers. Both are owned by Novel Financial Holdings.

The company said its decreases are primarily driven by a reduction in reinsurance costs.