Will Homeowners Insurance Cover a Meteor Strike?

During the first half of May, scientists confirmed that a 4.6-billion-year-old meteor smashed through the roof of a house in Hopewell Township, New Jersey, causing damage to the property in question and rattling residents who didn't know what hit them. The odds of that happening are extremely rare -- about 1 in 3.9 trillion, according to some experts. But alas, it happened to one unlucky homeowner who no doubt had to deal with a resulting roof repair.

Now, the typical homeowner does not have to lie awake at night stressing out about a meteor strike. But it does raise the question: Will homeowners insurance cover this sort of damage?

The good news is that many experts say yes. But you may want to contact your homeowners insurance company to get confirmation on that -- just in case.

Why meteor damage is generally covered by homeowners insurance

It's common for homeowners insurance policies to exclude coverage for specific types of damage. Your homeowners policy, for example, may not cover damage from flooding, especially if you live in a known flood zone and are required to have separate flood insurance. And depending on where you live, your homeowners insurance policy might have a separate deductible -- and separate rules -- for damage caused by hurricanes.

But for the most part, homeowners insurance is designed to cover damage caused by falling objects. If a tree branch falls during a storm and hits your roof, resulting in damage, that will generally be covered. So similarly, it stands to reason that if a meteor were to somehow fall from the sky and make contact with your home, you, too, would be covered under your homeowners insurance policy.

It never hurts to check

Your homeowners insurance policy may not include a line item about meteors or other objects with the potential to fall from space. So if you want reassurance that you'll be covered for such an occurrence, contact your homeowners insurance company and ask for clarification. Better yet, ask for that clarification in writing so you have something to reference.

Along these lines, it's important to know exactly what types of damage your homeowners policy will and will not cover. For example, a big question homeowners tend to have is whether their insurance will cover the cost of spoiled food in the event of an extended power outage. The answer is that this will largely depend on the nature of the outage and the policy in question -- so you may need to do some digging to see what your coverage entails.

Strange things can happen

The idea of a meteor hitting your home might seem pretty far out there. But if it can happen to one New Jersey homeowner, don't assume that it will never happen to you.

It's not a bad idea to contact your homeowners insurance company to ask what happens in this scenario. It's also a good idea to review your coverage every year to see what it entails, and ask questions when there's a specific situation you just aren't sure about.