Chile’s Financial Market Commission (CMF) released its biannual update on motor vehicle repair times reported by supervised general insurance companies and made the results available for comparison through its website platform. For the second half of 2024, the average time from filing a claim to the vehicle being available for policyholder pickup was 55 days, down from 60 days in the first half of 2024, with a full-year 2024 average of 58 days, 11 days lower than in 2023. The CMF data cover 80,664 accident-related claims in the second half of 2024, a 3.44% decrease from 83,540 in the first half. The average time from claim filing to workshop entry was 30 days and was also lower than in the first half. Repair times vary significantly by insurer and by the extent of damage, and the platform allows users to check results by company, vehicle brand and model, magnitude of damage, and workshop. The update also reports 5,102 workshops with insurer agreements (with 33% located in the Metropolitan Region) and 2,128,128 insured vehicles nationwide in the second half of 2024, down 28,941 from the first half.
Chile Financial Market Commission 2025-04-08
Chile Financial Market Commission publishes second-half 2024 motor vehicle repair-time data showing average claim-to-pickup time fell to 55 days
Chile’s Financial Market Commission released its biannual update on motor vehicle repair times, showing a reduction in average repair time to 55 days in the second half of 2024 from 60 days in the first half. The report covers 80,664 claims and highlights variability in repair times by insurer and damage extent. The platform provides detailed comparisons by company, vehicle brand, model, and workshop.