Shareholder Protection Insurance Corp. (SIPC)
I think I got that heading correct. I lost my notes. I believe every brokerage account is insured up to a minimum of $500,000, including $250,000 coverage for the cash account. The last time I asked my broker about it was probably about 15 to 20 years ago when I had a lot less equity. At that time I think I was told they had extra coverage beyond the $500,000. Now, again, I'm wondering if they have enough coverage for me, since my account equity has grown since then.
What is a reasonable amount of coverage to expect? How much coverage does your broker have? Should we expect it to be in writing? Last time I just took the broker's word for it. And what would you do if your broker didn't have enough to cover your equity?
I understand SPIC covers just about everything except normal market losses and/or company-stocks going bankrupt.
Any information will be appreciated.
Last edited by Villages PL; 05-14-2013 at 02:24 PM.
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