Financial Market Commission

CMF reports on the average repair time of motor vehicles as of the first semester of 2023

The average time from the filing of the claim until the vehicle was available for pickup by policyholders reached 74 days, slightly less than the average of 76 days during the second half of 2022. The time elapsed from the vehicle's entry into the workshop until it was available for pickup remained at 37 days.

On the CMF website, interested parties can check and compare repair times by company, vehicle brand and model, and type of workshop.

The Financial Market Commission (CMF) reports on the average repair time of motor vehicles as of the first semester of 2023.

In June, the Commission launched a new platform on its website to check and compare repair times for vehicles that suffer a claim and are covered by general insurance companies supervised by the CMF. Interested parties can access data about repair times by company, vehicle brand and model, and magnitude of the damage, as well as repair shops in the country. The information on repair times is provided by general insurance companies pursuant to Circular Letter No. 2,236, dated March 6, 2018, which regulates the submission of information related to the process of repairing motor vehicles.

The platform is designed for use by policyholders, people planning to take out insurance, and insurance brokers providing advice on the matter.

Main Results

In the first half of 2023, there were 95,921 insured vehicles with claims, a decrease of 4.4 percent compared to the second half of the 2022 (100,324 claims).

Table 1: Number of insured vehicles by deductible range

Deductible	Vehicles w/Claims	Percentage
No Deductible	21,954	22.89
Under UF 5	56,615	59.02
Between UF 5 and 10	14,356	14.97
Over UF 10	2,996	3.12
Total	95,921	100

As Graph 1 shows, the average time from the filing of the claim until the vehicle was available for pickup by policyholders reached 74 days, slightly less than the average of 76 days during the second half of 2022.

Graph 1: Average time from the time the claim was filed until the vehicle was available for pickup

Blue: Average days between filing the claim and sending the vehicle to a workshop. Green: Days the vehicle spent in the workshop. Dotted Purple: Total repair time.

Meanwhile, the time elapsed from the vehicle's entry into the workshop until it was available for pickup remained at 37 days (no variation versus the second half of 2022).

Graph 2: Average days in workshops and number of vehicles with filed claims

Purple: Number of vehicles with claims. Green: Average days vehicles spent in workshops.

As Table 2 shows, repair times by insurance company vary significantly depending on the extent of damage to vehicles.

Table 2: Average time by company for vehicles entering workshops until being available for pickup

Insurance Company	Light Damage		Medium Damage		Heavy Damage		Total
Insurance Company	Vehicles w/Claims	Average Days	Vehicles w/Claims	Average Days	Vehicles w/Claims	Average Days	Vehicles w/Claims	Average Days
BCI	10,354	37	8,437	51	9,672	72	28.463	53
BNP	693	17	536	22	504	29	1.733	22
Consorcio Nacional	2,851	16	1,796	21	2,099	31	6.746	22
FID	295	19	147	23	139	35	581	24
HDI	9,211	20	5,780	26	6,015	40	21.006	27
Liberty	4,412	32	2,075	35	2,420	35	8.907	33
Mapfre	2,473	21	1,398	27	1,205	35	5.076	26
Porvenir	179	13	127	28	35	58	341	23
Reale	2,210	21	1,386	26	1,422	40	5.018	28
Renta Nacional	968	19	582	24	844	43	2.394	29
Suramericana G	2,236	18	1,971	25	1,709	40	5.916	27
Zenit	1,134	37	923	50	989	72	3.046	52
Zurich Chile G	3,009	43	1.902	49	1.783	59	6.694	49
Total	40,025	28	27,060	36	28,836	52	95,921	37

As of the closing date of this report, there were 5,151 insurance company agreements with repair shops (repair shops may work with more than one company). The average number of insured vehicles per agreement was 377. Of the total number of repair shops, 36% are in the Metropolitan Region.

Table 3: Repair shops by region

Region	No. of Repair Shops	Percentage
Arica y Parinacota	36	1
Tarapacá	80	2
Antofagasta	274	5
Atacama	137	3
Coquimbo	260	5
Valparaíso	511	10
Metropolitana	1,835	36
Libertador Bernardo O'Higgins	255	5
Maule	370	7
Ñuble	128	2
Bío Bío	374	7
Araucanía	220	4
Los Ríos	110	2
Los Lagos	387	8
Aysén	43	1
Magallanes	131	3
Total	5,151	100

The total number of insured vehicles nationwide as of the first half of 2023 is 1,942,068, a decrease of 49,245 compared to the second half of 2022. Meanwhile, the claim ratio for insured vehicles reached 4.9 percent, slightly lower than the 5 percent of the previous semester. This figure includes all types of non-commercial vehicles.

Graph 3: Number of insured vehicles and claims rate by semester