First Title Adds Squatter Eviction Cover to Home Owners' Protection Policy®

23 June 2011

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First Title Insurance plc (First Title) has recently updated its successful Home Owners' Protection Policy (HOPP^®) to include cover against the expensive process of evicting squatters. This innovation comes at a time when squatters are becoming an increasingly serious problem plaguing homeowners across the UK.

This new addition to the HOPP helps safeguard homeowners against potentially expensive legal proceedings in the event that squatters invade their home. Recent stories of celebrities, such as Guy Ritchie, having their multi-million pound properties taken over by squatters have brought the issue into the mainstream.

But squatters can and do target anyone who owns a property. Typically, squatters break in to properties during periods of prolonged absence such as when people are away on holiday or on business. These victims return home to find themselves locked out and their properties inhabited by strangers.

"The recession raised the number of cases of squatters and the continuing tough economic climate means that homeowners are now even more at risk of finding their homes occupied, without prior consent," said Phillip Oldcorn, Director of First Title. "As squatting is not a criminal offence, the process of evicting them from your home is a lengthy, expensive and extremely stressful one. It is hard enough for people to get on the property ladder in the first place so once they are there, all the more reason for homeowners to do everything they can to protect themselves and their hard earned property assets against others moving in under their noses."

The new squatter eviction cover provides additional peace of mind and mitigates the risk of having to pay out high legal expenses to extricate squatters from the properties they have taken over. It also covers the costs of alternative accommodation during the process of eviction. Squatter eviction cover sits alongside a comprehensive list of other known and unknown risks already covered by the HOPP, including: fraud, seller misrepresentation, boundary disputes, lack of planning permissions and building regulation consents.

The 'no fault' nature of the policy means that claims can be made without the need to prove fault or negligence. For those in the process of buying a new residential property, the HOPP offers greater protection than their solicitor's professional indemnity insurance.

Notes to editors

First Title

First Title Insurance plc is an FSA regulated insurer which commands strong financial security ratings from the insurance industry's leading rating agencies and is authorised and regulated to issue policies in England & Wales, Scotland, Northern Ireland, the Republic of Ireland, and many other European countries.

First Title Insurance plc is a wholly owned subsidiary of the First American Financial Corporation. This includes the First Title group of companies which provides a range of insurance, processing, conveyancing and property services and is committed to streamlining and protecting property and mortgage transactions.