Section 40A:10A-1 - Liability insurance, negligent acts, omissions; business owners, rental unit, units ownera. Except as provided in subsection b. of this section, the owner of a business or the owner of a rental unit or units shall maintain liability insurance for negligent acts and omissions in an amount of no less than $500,000 for combined property damage and bodily injury to or death of one or more persons in any one accident or occurrence.b. The owner of a multifamily home which is four or fewer units, one of which is owner-occupied, shall maintain liability insurance for negligent acts and omissions in an amount of no less than $300,000 for combined property damage and bodily injury to or death of one or more persons in any one accident or occurrence.Added by L. 2022, c. 92,s. 1, eff. 11/3/2022. See L. 2022, c. 92, s. 3.