How to protect yourself as a landlord?

[Ken Lou]

Hi everyone, I'm a new to this and I have a single family rental home. It's built in 1950s and a lot of the things in it are not up to current code, for example, windows in the living room and a huge piece of glass, ungrounded outlet, possible lead paint, exposing wiring to the backyard garage, no permitted garage to family room conversion. I'm just wondering if I need to fix everything and make all items up to code to prevent from getting sued if they injury in my home during rental. Does homeowner insurance protect against that? Can I ask the tenant to sign a hold harmless of me when I disclose everything I know from the inspection report? Thanks!