His first car
Sam was thrilled with his used Myvi. It was his first car, a symbol of freedom. When it came to insurance, he tried to cut corners. He looked at the price difference between “Third Party, Fire & Theft” and “Comprehensive” and thought, “I’m a good driver. I don’t need the expensive one.” He almost bought the cheaper plan.
Seeking help and understanding options
Our advisor from TM Legacy Builders stopped him. Our advisor explained the risks. “Sam, if you hit a lamppost or skid into a ditch, Third Party insurance pays you nothing. You will have to pay for your own car repairs.” He reminded Sam that he was still paying the bank loan. If the car was totaled, he would still owe the bank money for a car he couldn’t drive.
Upgrading coverage for the future
Reluctantly, Sam agreed to the Comprehensive coverage. He paid the extra few hundred ringgit, grumbling about the cost. Six months later, Sam was driving home in heavy rain. He hit a patch of oil, hydroplaned, and slammed into a guardrail. He was unhurt, but the front of the car was crushed. The mechanic declared it a “total loss.” The market value of the car was RM12,000.
The outcome
If Sam had stuck with the Third Party plan, he would have received RM0. He would have been left without a car and a debt to the bank. Because he had Comprehensive coverage, the insurance company paid out the market value. He used the payout to settle the loan and put a down payment on a replacement vehicle.
Emotional and financial lesson
Sam shudders to think what would have happened if he hadn’t listened to our advisor. The accident was traumatic, but it wasn’t a financial disaster. TM Legacy Builders taught him that on the road, the cheapest option is often the most expensive risk.
Key takeaways for drivers
- Basic coverage may leave you exposed to high costs.
- Comprehensive insurance provides wider protection.
- Choosing coverage based on real risk is smarter than saving on premiums alone.
How TM Legacy Builders supports drivers
At TM Legacy Builders, we go beyond simply selling insurance; we support drivers every step of the way. We help clients identify gaps in their existing coverage and clearly explain the benefits of both basic and comprehensive plans. Our team guides them in upgrading their policies to match their lifestyle, driving habits, and the value of their vehicles.
