Why is a Guaranteed Completion Date (GCD) set by insurance companies?

Setting a Guaranteed Completion Date (GCD) by insurance companies serves primarily to manage customer expectations regarding when their vehicle will be ready for pick-up after repairs. This is crucial for maintaining customer satisfaction and trust, as it allows customers to plan their activities, whether they need to arrange alternative transportation or adapt their schedules around the repair timeline.

By clearly communicating a date by which the repairs are expected to be completed, insurance companies aim to reduce anxiety about the repair process and avoid frustration that might arise from unforeseen delays. It creates a benchmark for the repair shop to work towards, thus ensuring that customers feel informed and valued throughout the process.

The other options involve aspects like market value, rental returns, and discounts, which do not directly address the fundamental purpose of providing a timeline for customers concerning their vehicle’s repair status.