insurance and new home

[G1GY]

Originally Posted by toxic111

The New Home Warranty Program is one of the biggest scams out there....

I have been in the design industry for 12 1/2 years, and in construction industry for over 20... I have to yet see the Home Warranty program actually pay out properly...

For the extra 10-15000 for a new home you pay... its not worth it.. since they will only come in if the contractor does not come to fix problems... PIA

I would love to know how this works. I've been out of the construction industry for a number of years and back when I was still in it it was the builder that was covered by NHW. At that time a builder that wanted to take part in the program would have to put out a surety bond. The bond was in place to be used if the builder didn't take care of any issues that arose.

Could be thinking of the theiving the theiving CMHC when you say 10-15000? If so, that amount is on every home that's mortaged when the buyer starts with of a down payment of less than 25%.