It is already substantially higher than $250k because you can spread your funds between multiple banks. There are even cash management accounts from Fidelity and others that automatically place your funds with multiple banks to get higher insurance levels for larger amounts of cash. Their Fidelity cash management account allows you to spread cash among 26 different banks so you could have 6.5 million FDIC insured. Fidelity isn't the only financial institution to offer this service.