American Strategic Insurance, part of Progressive, has filed for a 10.1% overall rate decrease for its owner-occupied homeowners program in New Mexico.

The decrease would affect 6,902 policyholders and reduce written premium by approximately $1.25 million from a current premium base of $12.4 million. Individual policy changes would range from a 27.1% decrease to a 19.9% increase.

The filing revises base rates, deductible factors and inception discount factors. The proposed decrease comes despite a credibility-weighted indicated rate need of 0.5%.

American Strategic last revised the program in September 2025, implementing a 9% increase. The latest changes would take effect September 30, 2026, for new business and November 30, 2026, for renewals.