I picked #1, but only worry about it when carrying on my motorcycles. I bought a Glock 43 for such use - don't care if it goes bouncing down the interstate.
Otherwise, I don't worry about losing it to LE if used in defense of myself or others, cuz I'll get it back.

P.s. I wouldn't mind losing a Smith Shield or M&P, but I couldn't bring myself to even owning own.