Question Details:Would my hoe owners insurance cover me if someone got hurt? Would I be in violation of any laws if there is no commerce in my neighborhood?
1) Legally you may rent out your own land so long as your municipal zoning laws do not preclude the intended use; the best way way to know what is or is not allowed would be to speak with the building or clerk's office at your town or city hall first, then double check by reviewing the appropriate ordinances (which they can point you to)--ideally with an attorney's help, but you could do this yourself.
2) It is almost certainly the case that your current homeowner's insurance would not cover commercial activities on your land. Homeowner's insurance generally only covers residential uses; you can and should double check the policy (the policy is a contract; it covers exactly what it says it does), but it is likely you will need to buy different or additional insurance.