Well understand your liability here is IMO directly proportional to your wealth, beyond the value of your homestead, being your home is often immune from satisfying a lawsuit, and the greater your wealth, the more lucrative target you are for personal injury lawyers. Your biggest liability here concerns for example is more slip and falls of visitors on an oil spill, liquid flammable spills from stored liquids, negligent fires like battery chargers left on over a weekend, paint fumes/sprays, grinding/sanding dusts, rodents from any stored food, electrical overloads, building abuse like hoisting an engine from an under rated roof rafter, etc Stay away from these typical risks, and save your insurance premiums for needed car parts, IMO.