That sounds a little low to provide much coverage. In Massachusetts, my vehicle insurance (one SUV identified with my insurance company as being used for business purposes) alone runs about $1000 per year. Another check for approximately the same amount is written each year to my insurance agent for my one million dollar business liability policy. Since these business insurance policies don't cover damage you might do to the carpet, about the only thing that keeps me buying them is that some commercial prospects, once they have given me a go-ahead on a proposal, before any work is done, want me to have my agent FAX them a copy of my policy. Only once or twice in such situations did my coverage turn out to be less than they required. If that happens to you, you then have the choice to quickly arrange to bring your coverage up to these higher standards, or to pass on the job. You should sit down and read your existing policy to see what it actually covers.