… May have you rethink your RENTAL options!
Long repair shop backlogs and lingering parts shortages have caused the average auto insurance repair cycle time to reach 23.1 days in 2023, up 6.2 days from 2022, and more than double the average repair time in 2021; according to the J.D. Power 2023 U.S. Auto Claims Satisfaction Study.
Here are a few interesting findings from this report.
- Repair cycle times now longer than ever: This year’s improvement in overall satisfaction comes despite it taking longer than ever for vehicles to be repaired. The average repair cycle time from first notice of loss (FNOL) to returning the vehicle to the claimant is now 23.1 days, an increase of 6.2 days from 2022 levels. The pre-pandemic average cycle time was 12 days.
- Slow repair cycles affect rental car satisfaction: An increasing percentage of customers say their rental period is not long enough or that they are incurring out-of-pocket expenses, which is having an adverse effect on rental car satisfaction. Overall rental satisfaction for repairable claims falls 32 points when the car is needed for 15 days or more.
If you depend on your car each day, you’ll likely need a rental in the event of an accident. If you would like to review your rental options with us, we are here to help!!
Safe driving out there!!