All Risks Coverage

Consider this type of insurance policy as "anything but" coverage (with one ‘t'). Basically, the insurance contract will lay out certain particular items that are not covered. Then everything else (anything not mentioned specifically) would fall under the policy's umbrella.

The opposite form of policy is called "perils coverage." In that form of insurance coverage, the insurer only pays for damages caused by the specific items mentioned.

So if you are seriously concerned about a meteor hitting your house, you might buy perils coverage against meteor strikes. If an orbitally-challenged satellite hits your house instead, well, then you're out of luck.

On the other hand, if you've got all risks coverage, which only excludes hurricanes and attacks by brutish purple aliens bent on world domination, then when that satellite hits, you're good. The insurance company, assuming they're still solvent if a hundred other satellites fell and ruined 100 other homes they insured, will cover the costs, since satellite damage was not specifically excluded from the policy.