My view is to incorporate the business and carry as little insurance as possible. I've never been sued (knock on wood), but if I were, they aren't going to get any more than the 500K I'm insured for, the $$ just doesnt exist. If I were insured for 1Mil, you bet, they'd probably file claim for 1Mil. Another thing to think about is typically a claim is going to be for the amount of error. Just because I appraise a 3Mil property, it may only be a $250K mistake. I blackout how much my coverage is on my policy when a client requests it and let them call Landy to see how much they can sue me for. Yea, it sounds backwards, but it's the deep pockets that get targeted.