Hi, Guz. When I closed escrow on my home sale, I had to run to several different banks and open accounts because each bank only covers an individual depositor up to $100K no matter how many different accounts they have at that bank -- it is per depositor, not per account. I had also set up a new brokerage account because I heard those were insured for an unlimited amount of money, but come to find out they only insure cash up to $100K of CASH just like the banks.
I did learn that a T-Bill set up at a bank is covered separately, so you could have $100K in a savings account and $100K in a T-Bill and both would be covered (don't know why that is, but I suspect one is FDIC insured and the other is something else). You can also open accounts under different names (one in your name, one in joint name with hubbie, one in joint name with child, one in trust's name, etc.) and each one will be covered up to $100K. Hope this helps. . .
Newly