If you are collectible, $50k for property damage is not enough. Very easy to cause more damage than that in a multi-vehicle accident, or even a single vehicle accident, depending upon what you hit. I carry $250/$500/$250 for bodily injury/property damage, and I am comfortable with that. An umbrella policy that serves as additional liability coverage is always worth considering if you are collectible. It's not necessarily necessary (lol), but it's worth looking into.

Anyone who has a job and assets who carries less than 100/300/50 is asking for trouble, and really, 50k for PD is just not enough to make me comfortable anymore. My group gets subrogation demands every day that exceed $50k for property.