Louisiana Approves 7.5% Rate Reduction for SureChoice and Elevate Homeowners Policies

Louisiana Insurance Commissioner Tim Temple has approved a 7.5% average rate decrease for homeowners and dwelling policyholders of SureChoice Underwriters Reciprocal Exchange (SURE) and Elevate Reciprocal Exchange.

These reductions apply to over 73,000 homeowners and 17,000 dwelling policyholders statewide and will take effect on February 16, 2026. SURE, the second largest homeowners insurer in Louisiana, and Elevate, a Goosehead-exclusive insurer, are member-owned and primarily coastal-focused insurance providers owned by Novel Financial Holdings. The rate decrease is mainly attributed to lower reinsurance costs.