I carry 5 million coverage, also includes excess liability, income protection, freezing, theft, blow ups and my deductible is only $100.00. Never once have I had to use it, but having good insurance is good financial planning.
I also carry comm. auto insurance instead of personal.
Also, on your auto & liability policies, make sure you have the max. amount for Medical Payments.
Example of how great this is...
I was rear ended in May 2007 by a drunk driver. I was in my truck pulling one of my cargo trailers. I carry full coverage. I had right at 5k in medical bills. My Comm auto medical payments kicked in and paid the first $5k in bills. My Liability policy kicked in and paid another $5k directly to me and then my personal auto policy medical payments kicked in and paid $5k directly to me. Then when I settled the claim, I collected more money. This is why it's important to have a Commercial auto policy and a personal policy.
On a business policy 5k is usually the max for medical payments.
On business liability common is 10k.
On personal I carry 250k Medical payments.
Insurance is the best investment you can make.