What to do if Chromecast frequently gets disconnected?

Google Chromecast requires high network stability.  It is recommended to connect Chromecast in below condition: 1.802.11n @5GHz 2.WPA2-PSK encrypted 3.Wi-Fi signal quality higher than -60dBm.

Why might there be latency when Chromecast is casting?

Google Chromecast requires a bandwidth rate of 4 Mbps per user typically.  For HD video streaming, greater than 5 Mbps is required.