SURE and Elevate (SageSure reciprocals) homeowners insurance

Overview

SURE and Elevate are the insurance companies behind many SageSure policies on the Gulf and Atlantic coasts. If your declarations page names SureChoice Underwriters Reciprocal Exchange (SURE) or Elevate Reciprocal Exchange while your bills, emails and claims portal say SageSure, this is why: the exchange is the insurer that carries the risk, and SageSure, a managing general underwriter, sells, prices, services and handles claims for it.

Both are reciprocal exchanges: insurance companies owned by their policyholders (called members or subscribers) and run by a separate management company, the attorney-in-fact. SURE's bylaws organize it under Chapter 942 of the Texas Insurance Code with its home office in Houston, and name SURE Risk Management, LLC as attorney-in-fact. Elevate is also domiciled in Texas.

The exchanges have no NAIC rank of their own. In the NAIC's 2025 market share data their homeowners premium is reported within IAT Reinsurance Company Group, the group profiled under SageSure, which ranked #20 among U.S. homeowners insurance groups by 2025 direct premiums written, with $1.49 billion (0.79% of the national market). That group was the 3rd-largest homeowners writer in Louisiana in 2025 (8.79% of the market), 7th in South Carolina and 8th in Texas. When its Louisiana rate cut was announced in December 2025, SURE was described as the state's second-largest homeowners insurer, with about 8% of the market.

History

SageSure sponsored SURE in 2021 to add capacity in coastal states where national carriers had pulled back. SURE spread quickly. In July 2022, as FedNat left South Carolina, SURE took over more than 14,000 of its homeowners policies so those owners would not lose coverage. It entered North Carolina in August 2022, began writing excess and surplus lines property coverage in Florida in December 2022, and in February 2024 became one of the first Demotech-rated insurers to offer surplus lines homeowners coverage in California. It has since added business owners policies in California, Louisiana, North Carolina, South Carolina and Texas.

Elevate followed in 2022 as a partnership between SageSure and Goosehead Insurance. It launched in Texas, and only Goosehead agents enrolled with SageSure can sell it. A third SageSure reciprocal, Auros, launched in Mississippi in November 2024 (see Auros and Interboro).

Ownership of the management side changed in 2025. Novel Financial Holdings, a new holding company chaired by former PartnerRe chief executive Jacques Bonneau and led by CEO Rob Bredahl, announced its formation on May 28, 2025 after buying Forza Insurance Holdings, which owns the attorneys-in-fact of SURE and Elevate. The exchanges still write through SageSure. SURE's president is Ed Konar, and Travis Lewis is executive chairman.

Homeowners coverage

SURE writes HO-3 and HO-5 homeowners policies, DP-3 dwelling fire for rental homes in Louisiana and Texas, landlord coverage in North Carolina, and flood coverage in Texas. In California and Florida, SURE's homeowners coverage is written on a surplus lines basis: rates are not approved by the state, and surplus lines policies are not covered by the state guaranty fund if the insurer fails (see admitted vs surplus lines home insurers: what you give up). Elevate writes homeowners coverage only.

The policies follow SageSure's underwriting. SageSure insures homes to 100% of replacement cost rather than the 80% minimum many insurers accept, and it advertises replacement cost roof coverage where competitors settle roofs at actual cash value. Valuable jewelry and art can be scheduled. Coastal homes carry a named storm deductible, typically 1% to 10% of the dwelling limit. Say your dwelling limit is $300,000 with a 2% named-storm deductible: you pay the first $6,000 of hurricane damage. Flood is excluded from homeowners policies and needs a separate policy. Your own policy form and state endorsements control.

Discounts and savings

SageSure lists wind mitigation credits, smart hazard-detection devices, wildfire mitigation credits in California and higher deductibles as ways to lower the premium. In Louisiana, which requires insurers to discount homes built or retrofitted to the IBHS FORTIFIED standard, the state's July 2026 report lists a 30% FORTIFIED Roof discount for Elevate. Ask the agent for the wind mitigation form your state uses before you bind.

Where it sells and recent market moves

SURE writes homeowners coverage in Louisiana, South Carolina and Texas statewide, in selected areas of Alabama and Mississippi, and on a surplus lines basis in California and Florida. SageSure lists North Carolina as temporarily closed to new SURE business. Elevate is sold in Texas, Louisiana and South Carolina.

Prices have eased in Louisiana. Commissioner Tim Temple approved a 7.5% average rate decrease for SURE and Elevate, covering more than 73,000 homeowners and 17,000 dwelling policyholders, effective February 16, 2026; the Louisiana Department of Insurance said SURE's cut was driven mainly by lower reinsurance costs. That matters because a reciprocal depends heavily on reinsurance. SURE says its catastrophe reinsurance program exceeds $1.4 billion, enough for a 1-in-130-year first event, and that it has sponsored seven catastrophe bonds. In February 2026 SageSure and SURE closed a $670 million Gateway Re catastrophe bond protecting SURE, Elevate and SafeChoice Insurance Company against named storms, earthquakes, severe convective storms, winter storms and wildfire.

Claims

SageSure handles claims for both exchanges. Report a loss 24/7 at MySageSure.com or by phone at 866-311-7243; SURE's contact page also lists 866-751-2036 for claims. An adjuster is assigned to walk you through mitigation and inspections. Your agent, listed on the declarations page, can help with coverage questions. After a hurricane, photograph damage and keep receipts for emergency repairs before you call (see filing a homeowners claim after a hurricane).

Ratings and reputation

Neither exchange carries an AM Best rating. Both carry Demotech Financial Stability Ratings of A (Exceptional), as listed on SURE's and SageSure's sites in October 2026; most mortgage lenders accept a Demotech A. Citing its 2024 year-end statutory filings, SURE says it holds tens of millions of dollars in surplus.

Policyholders in a reciprocal are owners, and SURE's bylaws allow dividends to subscribers when they are declared from net profits. Like most young reciprocals, both exchanges rely heavily on reinsurance, catastrophe bonds and capital support from SageSure, so the reinsurance program matters as much as the surplus figure.

Who it suits

SURE and Elevate suit coastal homeowners in Texas, Louisiana and South Carolina who work with an independent agent and need wind and hurricane coverage that national carriers have cut back, and who want SageSure's full insurance-to-value approach and replacement cost roof coverage. They suit less well if you need an AM Best-rated carrier, want to buy direct, or prefer an admitted policy in California or Florida.

• Strengths: policyholder-owned with SageSure's underwriting and in-house claims; Demotech A (Exceptional); large reinsurance and cat bond program; a 7.5% Louisiana rate cut in 2026 and a 30% FORTIFIED Roof discount for Elevate.
• Weaknesses: no AM Best rating; sold only through SageSure-enrolled agents, and Elevate only through Goosehead; surplus lines in California and Florida without guaranty fund protection; percentage named-storm deductibles; North Carolina closed to new business.

How to contact SURE and Elevate