Is $500K too low of a liabilliy limit?

[Jacob P.]

Hi all, we have 2x  2 family properties in Brooklyn. Both worth over $1Million

We've always been insured for $1M in liability.

Our broker presented an option for insurance for one property that would be $500K.

Do you think we'd be at risk with this level of coverage? When someone goes after a landlord, is there a certain range that settlements typically fall within?