New home warranty vs. home insurance

Most new homes in Ontario come with a warranty provided by the builder and supported by Tarion. This warranty differs from home insurance as it covers issues like delays and defects in the home. The cost is a one-time fee based on the home's selling price. Home insurance covers damage and losses, while the warranty focuses on post-purchase risks and defects. Homeowners may need to use both insurance and the warranty for different issues. It's crucial to understand your responsibilities and the warranty claim process to protect yourself as a consumer.

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