It's not "just 250k." There are different classifications that the insurance covers. For example, a trust account (considered any account with a beneficiary listed) should cover 250k + 250k per beneficiary, with a cap (might not be implemented yet) of 1.25m.
In addition to that, most FIs purchase some form of excess share insurance to cover deposits beyond the 250k.
You would need a very large amount of deposits at a single institution to run up against the insured limits. If you are ever concerned about that, you can reach out to your financial institution(s) and ask them if you have any uninsured deposits.
In addition to that, most FIs purchase some form of excess share insurance to cover deposits beyond the 250k.
You would need a very large amount of deposits at a single institution to run up against the insured limits. If you are ever concerned about that, you can reach out to your financial institution(s) and ask them if you have any uninsured deposits.