Unfortunately, we have all learned that our friendly bank might not be as safe as we thought it was.

The Federal Deposit Insurance Corporation (FDIC) has increased its coverage on your checking account, money market accounts and IRAs to $250,000 per named account.  But that FDIC insurance does not extend to what you may have stashed in a safe-deposit box at your bank.

Your bank has no idea what may be squirreled away in your box. So, unless proven negligent, the bank can't be held liable if anything is stolen from it or lost or damaged due to a natural disaster.

If you do like to keep that 10 karat diamond ring or that collection of rare stamps and coins under lock and key, check your homeowner's or renter's policy to see if your safe-deposit box is covered.

If not, or if your policy only covers a nominal amount, call your insurance agent and ask about a "floater" policy that let's you add this coverage to your homeowner's insurance. The "floater" may be a little pricey, but remember the value of what you want to protect.

Bank failures are on the rise and we want to help you protect your money! Check out these articles to learn more:

• How to Protect Your Bank Deposits
• Fight Back Against Bank Fees!
• Is Your Bank Safe?