Depends on how deep your pockets are, if you are at fault for an accident there's a good chance that some or all the occupants in the other vehicle will think they just won the lottery. Problem with our current legal system is they still allow outrageous settlements. I try to carry enough liability insurance so that I don't worry about losing everything I own.
Jon & Chris Everton
1986 40' Dog House #86
0 hp 8V92 Allison HT740
Soon to be 500hp ISM with ZF 6 Speed
I assume from the numbers you're asking about bodily injury/personal property coverage. I would carry the same amount as you would if you lived in house, 100,000/300,000 is probably a minimum. Better yet is a single combined limit of $1,000,000, that's what we have on our policy.
With today's medical costs, $100,000 per person of bodily injury liability is barely adequate to cover a bit of hospitalization for an accident victim. So if your criteria is having enough to pay the other guy's expenses in case of a serious accident, then 100k/300k is probably a minimum and 200/500k a more comfortable figure. The higher limits may not cost very much more either, since the risk to the insurer does not increase proportionally. Consider property damage also - how much damage to sosmebody else's property could you cause at today's prices?
But the other criteria for insurance is how much of your own personal wealth is at risk? If the other guy sues for a million but you only have $50,000 in assets and $100k of insurance, his $1M judgement doesn't mean much. It could wipe out your assets, though. Depends on the type of asset and the laws that apply in the state where the asset residies and where the lawsuit is judged. Not all your assets may be at risk.