Latent Defect Insurance Protection

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Latent Defect for Home Buyers and Sellers

Latent defect is a hidden defect in the structure, materials or systems of the building that could not have been discovered by a property inspector on or before the closing date and was unkowne to the parties, which renders the property unfit for it intended purposes.

Features and Benefits:

  • Provides a cash settlement for the cost to repair a Latent Defect
  • Paid for by real estate agent
  • Buyer or Vendor may select coverage limit of either $5,000, $10,000 or $15,000 including taxes
  • Prevents potential latent defect disputes between the buyer and the seller once the transaction has closed
  • Offers suppoer to you during the legal/closing process in the event of a dispute regarding latent defects
  • Buyer or Vendor may select deductible of either $500, $1,000 or $1,500
  • Property must be sold or purchased through a Licensed Realtor

Disclaimer - *Information contained here is only an outline of coverages available and is not intended to be a legally binding agreement. For exact terms, definitions, limitations, exclusions and extensions, please refer to terms and conditions contained in the final policy. The real estate broker is not an authorized insurance agent/broker and is not permitted to answer specific questions, provide advice or interpret the coverage and applicability of the program and/or the insurance policy. For further information, please contact the program broker. This program is available to residents of Ontario only. Latent defect are defined within the policy.

Latent Defect Insurance Protection

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Home Seller's Home Buyer's
Yes No

Covered Client Information

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Address of Property for which the Insurance Products will be Purchased for Coverage:
House Condo
Yes No
The definition of a 'resale home' is one that is ready for occupancy when the Agreement of Purchase and Sale is signed.
I am NOT aware of any circumstances which may prejudice coverage under any of the products being purchased;
I AM aware of circumstances which may prejudice coverage under any of the products being purchased.;

Canadian Home Shield SafeClose™ - Latent Defect Insurance Coverage Options

10A) Coverage Limit - $10,000.00 Deductible - $500.00 Gross Premium - $396.00
10B) Coverage Limit - $10,000.00 Deductible - $1,000.00 Gross Premium - $369.00
10C) Coverage Limit - $10,000.00 Deductible - $1,500.00 Gross Premium - $342.00
11A) Coverage Limit - $15,000.00 Deductible - $500.00 Gross Premium - $483.00
11B) Coverage Limit - $15,000.00 Deductible - $1,000.00 Gross Premium - $456.00
11C) Coverage Limit - $15,000.00 Deductible - $1,500.00 Gross Premium - $429.00
**If a Seller Home Warranty is being purchased, please provide the Buyer's Name & Contact Info as it appears on the Agreement of Purchase and Sale:
Once the required form is submitted, we will finalize the transaction by calling you for your payment details. We accept the following cards: Visa and MasterCard.
*Plus 8% PST Apply.

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