We all know that the Federal Deposit Insurance Corporation insures each depositor up to $250,000 per insured bank and it’s an insurance policy that is as good as gold (OK, technically not as good… but pretty solid). Sometimes we forget, as we saw the run on IndyMac a few years ago (it was actually most 4 years ago to the day), but the FDIC insurance has always covered every depositor and no depositor has ever lost an insured penny.
That said, not everything you keep with your bank is covered by FDIC insurance. Many people learned that recently with Hurricane Sandy but also back in previous hurricanes, as high water flooded many bank vaults. Here are a few of the things the FDIC does not insure at the bank.
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