Insurance Policy for Bank Deposits Over FDIC Limit?

[Mark Beekman]

Does anyone know of any private insurance providers that insure bank deposits over the the FDCI limits? I've looked into CDARS and DIF, but are there any companies out there that will actually sell a policy directly to the account holder?

[Jon Holdman]

Sorry, @Chris G. but that's not quite right.  Its per depositor per bank, per account category, regardless of the number of accounts:  Understanding FDIC Insurance.  So, if you have three accounts at one bank in your name only the total insurance for all three accounts is $250,000.  If you also have three more accounts that are with you and one other person, then you also have $250,000 of insurance for the joint accounts and the other person has $250,000, too.

You can spread your money around with multiple banks.  There's one bank here in Denver that you would think has a bunch of branches.  In fact, each "branch" is a separately chartered bank.  So, you can have an account at each of their banks and get the $250K from each of them.