I have had State Farm for 24 years now for a condo on Kauai I rent out. A couple of years ago, a tenant skipped and vandalized the place.
State Farm paid me $2K. In November, the water heater in the unit next door flooded my unit. State Farm paid initially but was reimbursed fully by the insurance of the unit next door. Because I have had 2 incidents recently, they now want to cancel my policy!
My 24 years of premiums adds up to more than $2K.
They have made a nice profit off me! They have no shame!
Product or Service Mentioned: State Farm Insurance Homeowners Insurance.
Monetary Loss: $2000.