The renters policy will pay those costs as well as other costs that are incurred such as meals, cleaning, etc.If someone gets hurt while in their unit, normally the injured persons attorney will sue both the Landlord and the Tennant. 

No tenant or any other parties were injured at all, but the fact that I had insurance coverage structured like the above, rental income for 12months was forwarded to me in one check along with the total amount to rebuild/repair the property.

.* i have 3 small kids* recently injured my knee and on crutches and property is a 25 min drive away.Things are getting overwhelming and im ready to sell.

it doesn't matter if you own a car in an LLC and are doing LLC business if you drive drunk or run a stop sign and injure someone, you will be sued personally, as well as the LLC. 

That lawsuit is a claim for fraud, and that’s what fraud typically is...a misunderstanding and someone being “injured” and wanting to hold the other responsible for it.

Everyone deserves a safe place to live in, may be crappy finishes but they should have risk of being injured by structural flaws.

What happens if you buy another property like that.. now you are in the hole $1000 a month.Sure your net worth would be higher in the end, but what happens if you lose your job, get injured sick etc... you now likely lose that property.  

Do I need to put a clause in the lease releasing us of any responsibility if someone gets injured?

Someone injures themselves on the sidewalk and you are now liable.

Injuring someone in an auto accident is much more common than a large Liability claim at a rental property.