Do you need to insure your funds in addition to the fact that they are insured

[deucher]

Everyone knows that banks are insured, so when they decide to close or due to unforeseen circumstances, it will simply cease to exist and you will receive your funds, however, there are cases when they cannot pay you your funds for certain reasons, so does it make sense to insure your funds separately from the bank and is it at all maybe.

[Angel]

While many financial products, such as bank accounts, may be federally insured up to a certain limit, it's still wise to consider additional insurance for various reasons. For instance, if you have assets beyond the insured limit, you might want to explore additional coverage options. Also, insurance policies can provide protection against other risks not covered by federal insurance, such as identity theft or fraud. Evaluate your overall financial situation and risk tolerance to determine if additional insurance is necessary.