What is a latent defect?
Damage to real estate property or a building project that is not visible upon the first inspection and is found when the property or project is passed over to new owners is known as a latent defect.
What is a latent defect in Insurance?
It is a first-party policy that is commonly used for commercial real estate and new construction, such as housing, retail, and offices. It can also be used for new construction on older or existing buildings.
It mostly addresses structural damage that was not visible at the […]