Insurance for bank investments over 35,000 ???

I will shortly have a large sum to invest for a several months. Is it possible to get some kind of insurance against the bank/building society I'm intent on depositing the money with going bust?

Cheers.

Reply to
Bill K
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In message , Bill K writes

Not that I am aware, but if it did it would likely cost more than the interest you receive, that is what interest is - a risk premium.

If you cant take the risk then a safe in the cellar might be more appopriate,

Reply to
john boyle

best to split the amount across different banks and take advantage of the built-in government guarantee for amounts up to around £35,000??????

Reply to
jameshamilton777

But there already is a sort of insurance, and it's free (well you don't explicitly pay for it except perhaps through interest rates being a teeny bit less than they'd otherwise be), and called the deposit protection scheme or something like that, underwritten by, erm, is it the Bank of England? Whereby you can lose at most 10% of your dosh so long as there wasn't more than about 20 or 30 k per bank, so if it's more than that and you split it, you should be OK.

Reply to
Ronald Raygun

But the subject asked for cover over £35k, AIUI, in one institution.

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Reply to
john boyle

He should know better than to put his whole egg in one basket. He could lose the white, and then the yolk would be on him.

Reply to
Ronald Raygun

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