Auto insurers have been fighting rising costs and longer repair cycle times since the pandemic, but some relief is in sight for one of those trends.
The J.D. Power 2024 U.S. Auto Claims Satisfaction Study released this week shows that the average repair cycle time for claims filed later in the survey period was 18.9 days, down 5.0 days from 23.9 days in the early survey period.
That may offer some relief to insurers and their customers, but the average repair cost rose 26% in the past two years. Premiums have followed suit, rising 15%