With a headquarters in Dallas, GAINSCO is a regional insurance company specializing in non-standard car insurance for drivers with specific coverage needs. The company conducts insurance operations through MGA Insurance Company, connecting customers to independent agents in their area.1
If you have a poor driving record, own a car with custom parts, or have a foreign ID, GAINSCO offers coverages that cater to your needs, though the company’s average insurance premiums are higher than the national average.
Here’s what you need to know about GAINSCO auto insurance, including how to compare quotes and coverage options with other insurers you have an interest in.
The average cost of car insurance from GAINSCO is higher than the national monthly averages of $103 for liability and $182 for full coverage. GAINSCO also has higher average premiums than some of its competitors.
Compare average full-coverage quotes from competitors below.
The amount you pay for car insurance will depend on several factors, including your driving record and age. People with clean driving records pay the lowest average premiums, while people with past incidents face higher insurance costs because the insurer takes on increased risk.
By age group, teenage drivers pose the most risk and pay the highest premiums due to their lack of driving experience. Insurance costs tend to decrease with age, though senior drivers 70 and older face slightly increased premiums to account for aging-related risk factors.
Here’s how average monthly liability quotes from GAINSCO compare to the national average cost for different driver profiles.
The state you live in influences your car insurance premiums. People in states with higher minimum-coverage requirements or increased risk factors face higher rates.
The following table includes the average monthly cost for a GAINSCO liability policy in the states where it operates. See how GAINSCO’s rates compare to the state’s average liability premiums.
Comparing car insurance discounts from multiple companies can help you find the most competitive rates on your policy. It’s a good idea to review a company’s discount offerings before purchasing a policy.
Here are the discounts available at GAINSCO. Options may vary by state.2
Auto-pay
Early shopper
Good student
Homeowners
Military
Multi-car
Pay-in-full
Prior coverage (non-GAINSCO or GAINSCO coverage)
Safe driver
Senior defensive driver
GAINSCO’s customer reviews are mostly negative. It has a rating of 1.1 out of 5 based on 71 reviews from the Better Business Bureau (BBB) and 1 out of 5 based on 93 reviews from Yelp.
Negative customer reviews online express dissatisfaction with price increases, unknown fees, and poor claims handling. Additionally, the company has a high volume of complaints from the National Association of Insurance Commissioners (NAIC).
On the other hand, the GAINSCO app earned a 2.9-star rating on the App Store and a 3.9-star rating on the Google Play Store, indicating a decent mobile app user experience.
Customer testimonials show other people’s experiences with an insurance company, helping you decide whether to purchase a policy. Below, you can see GAINSCO insurance reviews from verified users.
GAINSCO ratings provide insights into the company’s performance in various departments.
AM Best rates insurance companies on their financial strength and ability to meet long-term financial obligations, such as paying claims. J.D. Power, a consumer intelligence firm, surveys and ranks auto insurance companies based on customer satisfaction. The NAIC tracks and measures the volume of complaints for a company’s size.
The table below depicts GAINSCO ratings from a few third-party agencies.
GAINSCO offers standard coverage to meet your state’s minimum insurance requirements. This includes liability insurance and may include uninsured/underinsured, personal injury protection, or medical payments coverage.
GAINSCO policyholders can also purchase a full-coverage policy consisting of comprehensive and collision coverage. In addition, you can customize your policy with unique coverages, such as non-owner, custom parts coverage, and SR-22 coverage, which traditional insurance companies may not offer.
Take a look at the following coverage options that GAINSCO advertises on its website. Specific coverages vary by state, so speak to a GAINSCO insurance agent to learn more about available insurance products.
GAINSCO only offers personal auto insurance policies. It doesn’t currently offer other types of insurance products, such as homeowners, renters, or life insurance.
The following information can help answer your remaining questions about GAINSCO and its insurance offerings.
Yes. GAINSCO is a legitimate auto insurer. State Farm acquired it in 2020 to expand into the non-standard personal automobile market. GAINSCO has an AM Best financial strength rating of A- (Excellent), which indicates its financial stability. You can learn more about the company’s history on GAINSCO’s website.
The average cost of GAINSCO car insurance is $111 per month for liability coverage and $234 for full coverage. Because liability insurance only includes bodily injury and property damage liability coverage, it costs less than a full-coverage insurance policy.
Ultimately, the cost of your car insurance policy varies based on your personal information, including your ZIP code, age, gender, driving history, credit history, marital status, and more. The age, type, and condition of your vehicle can also affect how much you pay for coverage.
Yes. GAINSCO is good at paying claims. The company has an AM Best financial strength rating of A- (Excellent), indicating a solid ability to pay out your claim. But it has a higher-than-average number of complaints filed with the NAIC and doesn’t have claims satisfaction rankings with J.D. Power.
You can cancel your GAINSCO insurance policy by calling customer service. The company’s phone number is 1 (866) 424-6726. Before you make a phone call about your desired cancellation date, you should have access to your existing policy agreement and policy number.
GAINSCO has satisfactory financial strength ratings and unique coverage offerings, but it has limited availability, poor customer reviews, and expensive insurance rates.
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