Which of the following is a strategy that you can use to protect yourself from the risks involved in owning a home? Pay PMI. Buy a product warranty. Purchase homeowner's insurance. Take advantage of the Truth in Lending Act.

I think the correct answer from the choices listed above is the third option. A strategy that you can use to protect yourself from the risks involved in owning a home would be to purchase homeowner’s insurance. It is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss.