What can be a disadvantage of not having homeowner's insurance?

Not having homeowner's insurance can lead to potentially facing significant financial loss after damage, which is why this choice is the correct answer. Homeowner's insurance is designed to protect homeowners from financial hardships caused by events such as fire, theft, or natural disasters. Without this coverage, if a damaging event occurs, the homeowner would be responsible for all repair or replacement costs out of pocket, which can be substantial. This financial burden can lead to severe consequences, such as losing the home itself or incurring debt, particularly if the damage is extensive.

In contrast, the other options present benefits or protections that do not pertain directly to the absence of insurance. For example, managing risks and having a higher credit score associated with it does not address the immediate consequences of having no insurance. Similarly, obtaining a mortgage might not be easier without insurance, nor does lacking insurance necessarily lead to more limited government assistance for repairs, as government aid often has strict criteria and timelines regardless of personal insurance status. Thus, the core issue lies in the significant financial vulnerabilities a homeowner faces without insurance, making this choice the most relevant disadvantage.