Excitement of homeownership
Zack was beaming when he met our advisor from TM Legacy Builders for a routine policy review. He excitedly shared the news: he had just purchased a beautiful terrace house in a new development. Ideally, it was a dream come true—spacious, modern, and affordable. He assumed the standard insurance from the bank covered everything he needed.
Evaluating the risks
Our advisor, however, knew the local geography well. He recognized the area where Zack had bought the house. While it was currently dry, it was historically low-lying and prone to flash floods during the monsoon season. Our advisor asked a critical question: “Does your current policy specifically include ‘Special Perils’ coverage?”
Zack was confused. He assumed “fire insurance” covered all disasters. Our advisor explained that in Malaysia, standard fire policies often exclude flood damage unless specifically added. Given the location of the new house, our advisor strongly advised upgrading to a comprehensive homeowner policy that included full flood protection.
Choosing the right coverage
Zack hesitated. The new house had already stretched his budget, and he wasn’t keen on paying more premiums. But trusting our advisor’s expertise, he agreed to the add-on, treating it as a necessary safeguard for his biggest asset.
The incident
Three months later, the monsoon season hit harder than expected. Continuous heavy rain caused the nearby river to overflow. Zack watched in horror as muddy water seeped into his living room, rising to knee height. The expensive new flooring, the custom cabinets, and the furniture were all submerged.
How TM Legacy Builders helped
The damage was estimated at RM25,000. For a new homeowner who had just emptied his savings for the down payment, this cost would have been financially crippling. But because of our advisor’s foresight, Zack was covered. The claim was submitted, and because the Special Perils add-on was active, the insurer covered the cost of repairs and cleaning.
Emotional benefit of protection
He was happy to know that his home and belongings were properly safeguarded. With protection in place, the stress of unexpected accidents or natural events is significantly reduced, allowing him to focus on other important milestones. This assurance made it possible to enjoy homeownership fully, without the constant worry of what might go wrong.
Key takeaways for homeowners
- Insurance protects more than just the loan.
- Full coverage safeguards both property and personal finances.
- Early planning ensures preparedness for unexpected events like floods.
How TM Legacy Builders supports homeowners
TM Legacy Builders supports homeowners by guiding them beyond basic mortgage requirements to understand what meaningful home coverage really looks like. Through clear explanations and real-life scenarios, we help clients choose protection that fits their living needs and risks.
