Maximizing FDIC Coverage

The financial crisis has brought large banks to their knees. FDIC coverage helps you ensure that your money is safe, but you might have more than the FDIC is willing to insure. How can you maximize FDIC coverage?

The FDIC temporarily increased coverage limits last week, so you've got some breathing room. Individuals now enjoy FDIC coverage up to $250,000 per bank, and other limits increased as well. However, these limits are set to expire at the end of 2009.

If you're fortunate enough to have a problem with it, there are a few other ways you can maximize your FDIC coverage. You can spread your accounts among different banks, title your accounts for maximum FDIC coverage, and have somebody else do all of the work for you. For details on these strategies, see How to Maximize FDIC Coverage.

Further reading:

• How FDIC Insurance Works
• Should FDIC Coverage be Increased?
• CDARS Manages FDIC Coverage For You