US-based insurance agency Ives Insurance Service has introduced a new solution, known as Repair Insurance Program, for property investors, Prodigy Press Wire reported.

This solution is designed to facilitate investment in property owners to save money associated with property repairs in the changing insurance market. 

Ives collaborated with an undisclosed company to unveil the new service, which is said to be the first of its kind solution in the insurance sector.

In addition to a complete investor insurance policy, the repair and investment property segment of the newly unveiled service aids property owners in saving nearly 35% of the expenditures for monthly repair and maintenance. 

The company noted that repair insurance is offered at a premium of $65 and also merges expense predictability, savings and added coverage compared to the standard insurance policy of a typical investor.

A round-the-clock hotline service is also offered by the company for tenants enabling delivery of quick repair experience for their appliances.

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Ives Insurance Service producer Michelle Afflalo said: “Our aim is to provide the investors, who have significant property portfolios, with an opportunity to make meaningful gains from insurance. 

“Our service enables them to get substantial benefits by ensuring their property repair and maintenance without compromising their coverage.”