What Happens if a Satellite Hits Your House?
Find out whether insurance covers damage caused by falling debris.
Another piece of space junk is expected to fall to earth October 22 or 23. Less than a month after a defunct NASA satellite fell into the Pacific Ocean, the German ROSAT satellite should enter our atmosphere this weekend and break into pieces traveling as fast as 280 miles per hour, according to Space.com.
Although the chances are pretty slim that a piece might hit someone (about one in 2,000), you might be wondering whether your insurer will cover the damage if a chunk of space junk hits your house or car. (Okay, you're probably more worried about what would happen if a 280-mph projectile hit you. But I'm sure you're concerned about insurance coverage, too.)
Well, you can relax. Damage caused by falling objects usually is covered under standard life, auto and homeowners insurance policies, according to the Insurance Information Institute.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Homeowners policies cover damage to the home and to belongings inside it. The optional comprehensive portion of an auto policy covers damage to a car, and the liability portion of a policy would kick in if a falling satellite (or any debris) caused an accident. And a life insurance policy would pay beneficiaries if the policyholder were struck and killed by space junk.
That puts your mind at ease, doesn't it?
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.
Award-winning journalist, speaker, family finance expert, and author of Mom and Dad, We Need to Talk.
Cameron Huddleston wrote the daily "Kip Tips" column for Kiplinger.com. She joined Kiplinger in 2001 after graduating from American University with an MA in economic journalism.
-
Stock Market Today: Dow Climbs 288 Points After Amazon, Intel Earnings
Post-earnings strength from Amazon and Intel helped cushion the blow of a disappointing October jobs report.
By David Dittman Published
-
Nvidia Stock Is Joining the Dow. Is It Time to Buy?
Nvidia will replace Intel in the Dow Jones Industrial Average this Friday. What does it mean for the stock?
By Dan Burrows Published
-
Five Ways to Save on Vacation Rental Properties
Travel Use these strategies to pay less for an apartment, condo or house when you travel.
By Cameron Huddleston Last updated
-
How to Avoid Annoying Hotel Fees: Per Person, Parking and More
Travel Here's how to avoid extra charges and make sure you don't get stuck paying for amenities that you don't use.
By Cameron Huddleston Last updated
-
How to Appeal an Unexpected Medical Bill
health insurance You may receive a bill because your insurance company denied a claim—but that doesn’t mean you have to pay it.
By Rivan V. Stinson Published
-
Amazon Prime Fees Are Rising. Here’s How to Cancel Your Amazon Prime Membership
Amazon Prime Amazon Prime will soon cost $139 a year, $180 for those who pay monthly. If you’re a subscriber, maybe it’s time to rethink your relationship. Here’s a step-by-step guide to canceling Prime.
By Bob Niedt Published
-
How to Haggle for Almost Anything
Smart Buying Learning how to haggle is an invaluable skill. These strategies will help you negotiate a better price for just about any product or service.
By Katherine Reynolds Lewis Last updated
-
Disability Insurance Can Provide COVID Coverage
Coronavirus and Your Money If you are concerned about long-term complications from COVID-19, consider disability insurance coverage.
By Rivan V. Stinson Published
-
21 Things You Can't Return to Amazon — Either Online or In-Store
Did you know there are things you can't return to Amazon? Before tossing these items into your shopping cart, be sure to read Amazon's return policy first.
By Bob Niedt Last updated
-
How to Avoid a Charity Scam
personal finance Scammers never quit, even when you're trying to be altruistic. But you can avoid getting duped if you do your homework.
By Rivan V. Stinson Published