I'm I liable if my renter's Pit bull bites someone?

A potential tenant of mine has a Lab and a Pit-bull.. If the dogs bite someone will I be held liable for the attack. I have insurance homeowners insurance for the rental property with State Farm but its basic.
Update: The property is a house for rent with no fenced back yard and without the dogs there is alot of potential for shortcutting. Seems like half of the neighborhood has Pitbulls for pets. Probably most of the neighborhood is renting.
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