Homeowners insurance covers meteor strikes

There is good news for homeowners who are curious if they are covered for a meteor strike like the one the hit Russia on Friday, February 15, 2012.

February 15, 2013 7:53:58 PM PST
The video of the meteor strike coming out of Russia is stunning. While it's unlikely your home will be hit by a meteor, Friday's cosmic crash brings up the question, what if?

Tully Lehman, the spokesman for the Insurance Information Network of California has some advice for those asking that question.

"That is one of the things that is definitely covered under your homeowners insurance policy. A lot of people may not realize it because it doesn't happen that often. But if it does it is something that would be covered," he said.

The question remains, "In Russia at this moment it's believed that it's the sonic boom that caused a lot of the damage. Would I be covered for that?" Finney asked.

"With the concussion of a meteor, a homeowners insurance policy would cover things like explosions for example. This would be covered under that kind of language in the policy," Lehman said. "So yeah, that would be covered for any sort of glass breakage and that sort of thing."

Lehman says many times insurance kicks in following unlikely events. When a volcano blows, homeowner's insurance covers the damage, when lightning strikes homeowners are also covered. If an airplane or parts of an airplane fall on your home, or even if a satellite comes down and hits your house that is covered too.

"Pretty much most anything that falls you are going to be covered because of the fact it doesn't happen very often. So the risk is low," Lehman said. "But if you did have a meteor come in over a largely populated area obviously it would still be covered but obviously the insurance claims for that, would obviously be very expensive," he said.

All of this follows the basic insurance rule that pertains to water. If it falls from the sky a homeowners policy covers the damage.