December 10, 2025 - Commissioner Tim Temple Announces SureChoice and Elevate Homeowners Rate Decreases

FOR IMMEDIATE RELEASE
December 10, 2025

Commissioner Tim Temple Announces SureChoice and Elevate Homeowners Rate Decreases

Commissioner Tim Temple has approved SureChoice Underwriters Reciprocal Exchange (SURE) and Elevate Reciprocal Exchange's requests for a 7.5% average rate decrease on the companies' 73,000-plus homeowners policyholders and 17,000-plus dwelling policyholders. SURE is the second largest homeowners insurer in Louisiana and writes approximately 8% of the market. The change takes effect on Feb. 16, 2026. Rate changes are statewide averages, so each policyholder's rate change will vary based on their individual risk.

SURE indicated its decreases are primarily driven by a reduction in reinsurance costs. Reinsurance is essentially insurance that insurance companies buy to protect against catastrophic losses. Many Louisiana homeowners insurance companies buy reinsurance to protect against severe losses caused by a hurricane or named storm.

"Since taking office, I've met several times with reinsurers to determine how we can encourage them to invest more capital in the Louisiana homeowners market, as well as how we can reduce the risk-and the cost-associated with that investment," said Commissioner Temple. "Reinsurers consistently brought up the need for Louisiana to amend the three-year rule, clarify our catastrophe claims process and put far more emphasis on resilience and mitigation programs. While we still have a long way to go before all Louisianans can benefit from these changes, we have made great strides and are beginning to see the results of our hard work."

Consumers may review all property and auto rate filings online with the Louisiana Department of Insurance's new user-friendly rate filing search tool.

About the Louisiana Department of Insurance: The Louisiana Department of Insurance works to improve competition in the state's insurance market while assisting individuals and businesses with the information and resources they need to be informed consumers of insurance. As a regulator, the LDI enforces the laws that provide a fair and stable marketplace and makes certain that insurers comply with the laws in place to protect policyholders. You can contact the LDI by downloading our LDIConnect mobile app on the Apple App Store or Google Play Store, calling us at 800-259-5300 or visiting www.ldi.la.gov.