Does Your Bank Have Enough Insurance?

“Does our bank have enough insurance?” It’s the most common question I hear.

Several years ago I started putting out my recommended minimum insurance limits for banks of different sizes.

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Same caveat from past editions – your mileage may vary.

When insurance is a bargain, buy more. If rates are outrageous, you might want to drop down. My recommended minimums are starting points for the amount of insurance you should buy. Consider a bit more coverage; get quotes at higher limits and judge if the premium is worth the value of the extra coverage.