Source: Michelle Singletary, Washington Post ( Paid Registration )

If you are unsure whether your money is federally insured, use the FDIC’s tool, the Electronic Deposit Insurance Estimator. It helps consumers figure out on a per-bank basis how much of their money, if any, exceeds coverage limits.

Insurance works by ownership categories, and each is insured separately for up to $250,000. Here are the four most common categories: individual, joint, retirement and trust. Here’s an example of how the coverage would work for a married couple:

Husband has upward of $250,000 in individual accounts.

Wife has upward of $250,000 in individual accounts.

Husband and wife have upward of $500,000 in joint accounts.

Read Full Article: Here’s what deposit insurance covers