What if I Have More Than $250,000?

If you're someone who holds less than $250,000 in cash, there's not a whole lot of risk. You can open accounts at different institutions to stay under the FDIC limits. The law is written that FDIC Insurance covers you up to $250,00 for a single depositor. But if you're a joint, a joint owner, like a spouse or a significant other, then you can actually have up to $500,000 of insurance covers.