Owning a home on our Urbanisation is a significant and proud achievement but with it comes the responsibility of safeguarding your property against various risks. While most of us are familiar with traditional insurance policies that cover damages from natural disasters, theft, and accidents, there’s one aspect that often gets overlooked : squatters.

Dealing with squatters can be a nightmare for homeowners, leading to property damage, legal expenses, and significant stress. However, there’s a solution that many homeowners might not be aware of : Squatter Protection Insurance.

Squatter Protection Insurance is a specialised insurance policy designed to protect homeowners from the risks associated with unauthorised occupants. This type of insurance provides coverage for damages caused by squatters, legal expenses incurred in removing them, and loss of rental income if the property was intended for rental purposes.

Benefits of Squatter Protection Insurance:

1. Protection Against Property Damage: Squatters can cause extensive damage to a property, including vandalism, theft, and neglect. Squatter insurance provides coverage for repairs and restoration costs, ensuring that your property is restored to its original condition.
2. Legal Expenses Coverage: Dealing with squatters often involves legal proceedings to evict them from the property. Legal expenses can quickly add up, but with squatter insurance, you can rest assured knowing that your policy will cover these costs, including attorney fees and court expenses.
3. Loss of Rental Income: If you intended to rent out your property but squatters prevent you from doing so, you could suffer a significant loss of rental income. Squatter insurance can provide reimbursement for the income you would have earned during the period of occupation.
4. Peace of Mind: Knowing that you have insurance coverage specifically tailored to protect against the risks of squatters can offer peace of mind to homeowners. Instead of worrying about the potential financial implications of a squatter situation, you can focus on enjoying your home.

If you’re interested in obtaining Squatter Protection Insurance for your property you could contact a reputable insurance broker, research the internet or approach an insurance provider directly.

For example, you may have heard in the news about a leading Spanish Insurance provider who have recently launched a policy which gives financial and legal compensation for just €24 per year . This can be for your main home or second home and is taken out separately from your home insurance whoever your existing home insurer is.

It has been reported that other Urbanisations are still having problems with squatters but fortunately our Urbanisation’s security gate enclosure project is intended to minimise the risk. However, we still wanted to share this information with all our residents should you want to seek further peace of mind.