Forecasts of debris from satellites falling to earth regularly receive attention in the news media. While the likelihood of actually getting struck by a satellite or satellite debris is extremely rare, the good news is that if one does hit you, your home, your car or your place of business, you would be financially protected by insurance.
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.
In the tragic event that satellite debris were to strike a person their injuries would be covered under health insurance and, in the event of a death, existing life insurance policies would kick in.
So, even when the sky seems to be falling, insurance can provide peace of mind.
Source: Insurance Information Institute, http://www.iii.org/articles/are-falling-satellites-covered-by-insurance.html