Is Your Business Covered if a Satellite Hits?

Sometimes I get the best e-mails in this gig! Today was one of those days.

This weekend a German x-ray telescope satellite, ROSAT, is predicted to fall to the Earth. It is reported that large portions of the satellite will survive reentry and strike the Earth. Some reports state that pieces as large as 250 lbs. could strike the ground.

This morning, the helpful folk at the Insurance Information Instituteissued a media release entitled, "REPORTERS WITH QUESTIONS REGARDING INSURANCE COVERAGE FOR FALLING SATELLITES CAN CONTACT THE I.I.I." Admittedly, at the time I got the release, I was not aware of ROSAT's impending doom. So, I thought the release a bit...odd.

I am happy to report, according to the Institute:

"Falling objects, including satellites, are covered under standard homeowners and business insurance policies. There would be coverage for the damage the satellite causes to the structure of the home or business, as well as to property or belongings damaged within the building."

"If a satellite falls on your car, coverage is provided under the optional comprehensive portion of an auto insurance policy. And if falling debris causes an auto accident, the liability portion of the policy would come into play."

So, go on about your business, satellites crashing to Earth and falling on your car is covered. But, check with your insurance professional to make sure.