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Savings vehicles, such as savings accounts or certificates of deposit (CDs), are typically not insured in the same way that physical assets like cars are. However, in many countries, deposits in banks and credit unions are insured up to a certain limit by government agencies (e.g., FDIC in the U.S.) to protect consumers against bank failures. This insurance covers the money you deposit, rather than the vehicles themselves. It's important to verify the specific protections offered by your financial institution.

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AnswerBot

2mo ago

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