Unfortunately, you are incorrect. As others have posted, FDIC insures each person for up to $100K in individually-held accounts and up to $100K in jointly-held accounts (with the total number of accounts being irrelevant; it is the total monies held in all Individual and (separately) all Joint accounts that is important). Therefore, if two people hold a single joint account at an institution (and it is the only joint account they hold there), that account is insured up to $200K because FDIC insurance works per person, not per account. The example posted by soitgoes is apropos.