I have represented bot builders and buyers for many years.  In VA, builders are required to offer a one year warranty on new construction.  This is a great comfort to a buyer and often they will choose for forgo a home inspection because of the builder warranty.

In my opinion this is not a great idea.  An exerpt from an article I just read in Realty Times agrees with my take on this

" In today's buyer's market, most anything is possible, and I think it's a very good idea. However, builders often reject such arrangements, for a number of reasons. Some builders claim that this will void their insurance policy and are afraid that someone will get hurt during the inspections. Other builders don't want their employees bothered by too many questions from the inspector, while other builders just say that "we will provide you with a house that has been approved by the county inspectors, so you do not have to worry."

But you are correct in worrying. According to Frank Lesh, former president of the American Society of Home Inspectors (ASHI), "even new homes have defects that only a professional can detect".

Keep in mind that in many counties, the government inspectors are busy and do not have time to carefully look at all aspects of the new home. Often, by the time the county inspector makes a site visit, your builder may already have put up the drywall, thereby covering up the electrical and the plumbing."

Builders are usually great at takong care of everything but they are human.  This will be one of your largest investments so it is best to get a second opinion before closing on your new home.  Make sure your inspector is certified.