- Serves higher risk areas of the country
- Customers typically have a positive experience
- Less than average number of complaints
- Lack of information on the website
- Unsure of how the partnership between the two companies works
- Only available in seven states
SURE, which sometimes goes by SureChoice, is an insurance company that was founded in 2021 making it one of the youngest insurers in the country. SURE stands for SureChoice Underwriters Reciprocal Exchange. They have a strong focus on insuring properties that are located along the country’s Gulf Coast.
SURE is a member-owned company, which is something that is pretty unique in the industry today. They currently have over 100,000 members with that number growing every day. While owned by the members they boast of having an expert team that leads the company to serve the members well. The company is headquartered in Houston, Texas. It looks as though SURE partners with a company called SageSure to offer coverage.
Where does SURE offer home insurance?
SURE offers home insurance coverage to residents of seven states that are mostly situated along the Gulf Coast. These seven states are:
SURE homeowners insurance coverages
SURE offers standard home insurance policies which are also known as HO-3 policies.
The company’s standard HO-3 policy includes six sections. These sections are:
- Dwelling coverage (Section A): This section is meant to provide protection for damage that may occur to the structure of the home or any attached structures such as a chimney or garage
- Other structures coverage (Section B): This section is meant to provide protection from damage to any structures on the property that are not part of the home including sheds, fences, and detached garages
- Personal Property coverage (Section C): This section is meant to provide protection to repair or replace personal belongings such as furniture or electronics that are damaged by a covered peril
- Loss of use (Section D): This section is meant to provide protection for additional living expenses the homeowner may incur while the home is being repaired or rebuilt temporarily relocating the homeowner
- Personal liability (Section E): This section is meant to provide protection for any legal bills that may stem from lawsuits against the homeowner due to an injury to a guest or damage of another’s property where the homeowner is ultimately found to be at fault
- Medical payments to others (Section F): This section is meant to provide protection for any medical bills that may stem from an injury that may occur to a guest on the property no matter who is found to be at fault
Coverage limits
Unfortunately, we also couldn’t find much in the way of coverage limits on a standard policy with SURE. Commonly, HO-3 policies have a dollar amount coverage limit for the dwelling coverage section and the other structures coverage, and personal property coverage have a coverage limit that is a percentage of the dwelling coverage. The remaining sections are typically on a dollar amount basis. This is not confirmed from our research so we recommend potential customers talk with a SureChoice agent to learn more about the details of a policy with the company.
Additional coverages
Unfortunately, we couldn’t find much in the way of optional additional coverages that SureChoice offers. Their website doesn’t state anything about additional coverage, nor did we turn anything up in our research. The company’s website does state they offer HO-5 insurance, which is essentially a more comprehensive version of the standard HO-3 home insurance policies. Typically, HO-5 policies include all the same sections of coverage as an HO-3 policy, but with higher coverage limits and typically the personal belongings section is on a replacement cost basis instead of an actual cash value basis meaning it doesn’t factor in the depreciation in value of the belongings over time. HO-5 policies are usually utilized by homeowners of higher value homes and those who own many expensive items. We recommend reaching out to a SureChoice agent to learn more about any additional coverages they may offer.
Other policies offered
SureChoice Insurance does offer a few different insurances that homeowners may be interested in other than a standard homeowner’s policy. The company offers:
- Dwelling fire insurance: Dwelling fire insurance is essentially a stripped-down version of an HO-3 policy. It protects against more than just fires. This type of policy is typically utilized by homeowners who own a second home or landlords who rent out their property. The policy does have some flexibility to customize it.
- Flood insurance: SureChoice offers flood insurance privately, which is a rarity. Flood insurance protects the homeowner from damages to the home, other structures, or personal belongings when flooding is the cause of it. Flooding is one of the most common and expensive perils for US homeowners.
Cost of SURE home insurance
We were unable to find an average cost of a home insurance policy with SURE, but our guess is that the companies policies may be slightly higher than the national average due to the states that the company serves. All of the states listed are states that are coastal and experience higher levels of severe weather compared to the rest of the country. Premiums are typically higher in these states than around the rest of the country no matter what company one was to choose. This is a guess with nothing to back it up with so please don’t take this as fact. We encourage readers to reach out to SureChoice to get a quote that is relevant to your specific and unique situation. There are so many factors that can change the price of the policy in any individual situation.
Discounts available
We were unable to find any information surrounding discounts with the company. Again, we recommend reaching out to an agent of the company to learn more and answer any questions you may have.
Claims process
The only claims process reviews that we could find were of SURE’s partner, SageSure. Customers were generally satisfied with the claims process, stating that agents were helpful and responsive as customers navigated the claims process. It looks as though one can begin the claims process online as well, which is a positive in today’s technological world. Overall, we would say that the claims process is generally positive with SURE.
Customer experience
Again, the reviews that we found were of SURE’s partner SageSure. The overall customer experience with the company has been mostly positive. People state that they appreciate the responsiveness of the company and they have had positive experiences with customer service when the policyholder has any needs. That is not to say that there are no negative reviews. The company still has a fairly large number of negative reviews about the company potentially up-charging the homeowners or lowballing them for claims estimates, but the majority of reviews are positive. The National Association of Insurance Commissioners complaint index does show that the company has well lower than average complaints filed against them, with almost no complaints against them. This is a huge positive as it shows that the company is doing right by the customers and customers are upset enough to complain.
Financial strength
SURE has an A rating from Demotech, which is a credit ratings agency that focuses mainly on regional insurance carriers such as SURE. This A rating is an exceptional financial rating. Customers and potential customers of the company can feel confident knowing that SURE can handle many claims at once as well as deal with major economic downturns and still be financially ok. This is always a good thing to see from a company as it instills confidence and peace of mind.
Conclusion
It is hard to say with 100% certainty that SURE is a good home insurance option for homeowners in the states that the company serves, due to the lack of information we could find on the company. However, based on what we could find, SURE looks to be a better-than-average insurer with mostly positive experiences for customers.
The company has a strong financial rating of A with Demotech, which is a good thing to see. We are truly uncertain about the pricing of SureChoice policies and how they compare to the national average. The factors would leave one to believe their policies may be higher than average, but it is hard to say. Nonetheless, SURE looks to be an option for home insurers that residents of the states they offer coverage in, should consider.
