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2024 New Jersey Revised Statutes
Title 40A - Municipalities and Counties
Section 40A:10A-1 - Liability insurance, negligent acts, omissions; business owners, rental unit, units owner.

Universal Citation:
NJ Rev Stat § 40A:10A-1 (2024)
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40A:10A-1 Liability insurance, negligent acts, omissions; business owners, rental unit, units owner.

1. a. 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.

L.2022, c.92, s.1.

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