Homeowners Stunned as 'Invasive Species' Insurance Mandates Could Hike Your Premiums by 40% Next Year
If you thought the only thing eating at your wallet was inflation, think again. A new wave of state-level mandates is forcing insurance companies to cover damage from "invasive species" like the voracious Asian carp and the tree-killing emerald ash borer, and industry insiders warn that your homeowner's policy premiums could skyrocket by as much as 40% starting next quarter. While the goal is to protect against unpredictable property damage—from collapsing foundations caused by burrowing nutria to fuel-infused fire hazards from invasive grasses—you'll be footing the bill for a problem that literally snuck into the country. Don't buy that new roof just yet; your emergency fund might need to cover the deductible on a pest infestation you never saw coming.