Financial Market Commission

CMF reports on the average repair time of motor vehicles with claims

The average time from filing of the claim until the vehicle was available for pickup by policyholders was 60 days during the first half of 2024, better than the 63 days posted in the second half of 2023.

Time elapsed from the vehicle's entry into the workshop until being available for pickup decreased from 34 to 28 days.

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

October 30, 2024 - The Financial Market Commission (CMF) reports on the average repair time of motor vehicles as of the first half of 2024.

In June 2023, 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.

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 data related to motor vehicle repair procedures.
The platform is designed for use by policyholders, people planning to take out insurance, and insurance brokers providing advice on the matter.

Results

There were 83,540 insured vehicles with claims in the first half of 2024, a decrease of 9 percent compared to the first half of the year (91,840 claims).

The average time from the filing of the claim until the vehicle was available for pickup by policyholders reached 60 days, below the 63-day average recorded in the second half of last year.

Meanwhile, the time elapsed from the vehicle's entry into the workshop until it was available for pickup reached 28 days, also below the first-half average.

Graph 1: Average time from filing the claim until the vehicle is 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 average repair time.

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

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

Repair times by insurance company vary significantly depending on the extent of damage to vehicles, as Table 1 shows.

Table 1: Average time by company for vehicles entering workshops until being available for pickup

Insurance Company	Light Damage		Medium Damage		Heavy Damage		Total
Insurance Company	Avg. Days	Vehicles w/ Claims	Avg. Days	Vehicles w/ Claims	Avg. Days	Vehicles w/ Claims	Avg. Days	Vehicles w/ Claims
Zürich Chile G	38	2,771	42	1,547	51	1,560	42	5,878
MAPFRE	45	2,124	58	936	70	636	53	3,696
Consorcio Nacional	46	3,082	58	1,483	72	1,212	54	5,777
Suramericana G	46	2,047	56	1,779	67	1,565	55	5,391
FID	52	526	57	235	71	228	57	989
HDI	49	7,783	57	4,555	72	4,564	57	16,902
Liberty	50	2,878	59	1,266	71	1,232	57	5,376
Porvenir	44	250	63	179	70	195	57	624
Renta Nacional	54	985	58	294	71	209	57	1,488
BNP	51	729	63	467	75	349	60	1,545
BCI	55	12,115	65	8,562	82	8,237	66	28,914
Reale	54	1,595	61	1,016	85	1,300	66	3,911
Zenit	59	1,237	69	924	91	888	71	3,049
Total	50	38,122	60	23,243	75	22,175	60	83,540

As of the closing date of this report, there were 5,4,93 workshops in agreements with insurance companies (workshops may work with more than one company). 33.1 percent of total workshops are in the Metropolitan Region.

Table 2: Repair shops by region

Region	No. of Workshops	Percentage
Arica y Parinacota	42	0,76
Tarapacá	92	1,67
Antofagasta	311	5,66
Atacama	166	3,02
Coquimbo	255	4,64
Valparaíso	560	10,19
Metropolitana	1,818	33,1
Libertador Bernardo O'Higgins	281	5,12
Maule	424	7,72
Ñuble	145	2,64
Biobío	406	7,39
Araucanía	227	4,13
Los Ríos	123	2,24
Los Lagos	453	8,25
Aysén	55	1
Magallanes	135	2,46
Total	5,493	100

The total number of insured vehicles nationwide as of the first half of 2024 is 2,157,069, a decline of 35,663 compared to the first half of 2023. This figure includes all types of vehicles.

Graph 3: Number of insured vehicles by semester