Many novice investors consider insurance as an afterthought when buying a property.  They put a lot of effort into investigating their mortgages and rents but neglect this important topic. Insurance companies constantly change their policies and so you must be fairly current in your understanding of policies. One needs to check to see if every property can be properly insured. Lenders will not give money to properties than cannot be insured (as occurred in High River due to the 2013 floods). That is why you should always remove your conditions on an offer to purchase after you have verified the insurability of a property.