Does Homeowners Insurance Cover Meteorite Damage?
Is Meteorite Damage Covered?
Yes, homeowners' insurance typically covers meteorite damage. In the state of Texas and most other states, standard homeowners insurance policies include coverage for “falling objects.” Meteorites, though extremely rare, fall into this category.
If a meteorite were to strike your home, the damage to the structure would generally be covered under your dwelling coverage, while any damaged personal belongings may be covered under personal property coverage.
What Types of Damage Are Included
If a meteorite hits your property, your insurance policy may cover a variety of related damages, including:
- Structural damage to your roof, walls, or foundation
- Damage to personal belongings inside the home
- Secondary damage, such as fire or water damage, caused by the impact
Because meteorite strikes are considered sudden and accidental events, they typically meet the criteria for covered perils in most standard policies.
Deductibles and Policy Limits
Even though meteorite damage is usually covered, your payout will still depend on your policy’s deductible and coverage limits. You will need to pay your deductible before your insurance company covers the remaining repair costs.
For example, if the damage totals $20,000 and your deductible is $2,500, your insurer may cover the remaining $17,500, depending on your policy terms.
Situations Where Coverage May Be Limited
Coverage may be limited in certain situations. For example, if the damage is not reported promptly or if the insurer believes the claim is not legitimate, the claim could be delayed or denied.
Additionally, while the home itself is typically covered, items not listed under your policy or exceeding coverage limits may not be fully reimbursed.
What to Do If It Happens
If the unlikely event of a meteorite strike occurs, document the damage immediately. Take photos, secure the property to prevent further damage, and contact your insurance company as soon as possible to begin the claims process.
Conclusion
Meteorite damage is generally covered under homeowners' insurance as a falling object. While rare, this type of event is typically treated like any other sudden and accidental loss, with coverage depending on your policy’s terms and limits.
