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How to mitigate risk of being sued if someone gets hurt on my property?

Question Details: I have a bicycle track in my backyard and all the neighborhood kids want to come ride on it. I want to let them ride on it but am scared I could get sued if someone gets hurt. I'm guessing the family could come after me, however more likely the insurance company would. I thought maybe a liability waiver might help, is there anything I can do to prevent or reduce the likelihood of someone coming after me to pay for an injury if it were to occur?

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