GAINSCO Auto Insurance: User Reviews and Quotes (2024)
GAINSCO provides non-standard auto insurance to drivers with specialized coverage needs. But its average rates are high, and customer reviews are mostly negative.
3+ years experience in insurance and personal finance editing
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
Konstantin HalachevVP of Engineering & Data Science
7+ years experience in data analysis
Ph.D. in Computational Biology
Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.
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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.
Quick Facts
GAINSCO sells auto insurance products in 19 U.S. states.
The company has fewer discounts than similar competitors.
The average cost of auto insurance from GAINSCO is $124 per month for liability coverage and $283 for full coverage.
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-ten scale. The Insurify editorial team researches insurer data to determine the final scores.
7.3/10
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$124/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$283/mo
Compared to its competitors, GAINSCO falls short in several categories. For example, the company has higher-than-average rates and fewer discounts than some insurers. The company does have strong financial strength, with ratings on par with similar car insurance companies.
Learn more about how GAINSCO compares to its competitors below.
Too much money each month along with poor service.
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Factor
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How GAINSCO Compares
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Rates
Higher
Customer service
Worse than competitors
Discounts
Fewer than competitors
Availability
Less than competitors
Financial strength
Similar to competitors
How GAINSCO rates compare to competitors
The average cost of car insurance from GAINSCO is higher than the national monthly averages of $104 for liability and $211 for full coverage. GAINSCO also has higher average premiums than some of its competitors.
Compare average full-coverage quotes from competitors below.
Full-Coverage Rates by Insurance Company
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
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Based on 3,806+ reviews
4.8/5
Average cost of GAINSCO auto insurance
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.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
GAINSCO car insurance cost by state
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.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
GAINSCO car insurance discounts
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
How customers feel about GAINSCO
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.
GAINSCO customer reviews
Customer testimonials show other peoples’ experiences with an insurance company, helping you decide whether to purchase a policy. Below, you can see GAINSCO insurance reviews from verified users.
Reginald - October 28, 2024
Verified
Not Happy
The rates are too high.
Doreatha - October 27, 2024
Verified
Better Prices
The prices are too high just for basic coverage.
Harold - October 15, 2024
Verified
Poor
Too much money each month along with poor service.
Josetta - October 15, 2024
Verified
No Roadside Assistance
There is no roadside assistance available for customers.
…
GAINSCO ratings
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.
Rating
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Score
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What This Means
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AM Best
A-
Excellent financial strength
J.D. Power
N/A
No rankings with J.D. Power
NAIC Complaint Index
1.29
More complaints than expected for a company of its size
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.
SR-22 certificate
GAINSCO provides coverage to high-risk drivers who require an SR-22 certificate, which verifies to the state that a driver has coverage that meets their state’s required minimum limits for liability insurance.
Rental car reimbursement
Rental car insurance pays for the cost of a rental car while your vehicle receives repairs after a covered loss.
Emergency roadside assistance
Roadside assistance covers the cost of towing and labor if your car breaks down.
Custom parts equipment
Custom parts coverage repairs or replaces custom after-market parts on your vehicle after a covered incident.
Non-owner
Non-owner car insurance provides liability coverage if you frequently borrow or rent cars but don’t own one.
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Other options for GAINSCO customers
GAINSCO only offers personal auto insurance policies. It doesn’t currently offer other types of insurance products, such as homeowners, renters, or life insurance.
GAINSCO insurance FAQs
The following information can help answer your remaining questions about GAINSCO and its insurance offerings.
Is GAINSCO legitimate?
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.
What is the average cost of GAINSCO car insurance?
The average cost of GAINSCO car insurance is $124 per month for liability coverage and $283 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.
Is GAINSCO good at paying claims?
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.
How do I cancel my GAINSCO insurance policy?
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.
What are the pros and cons of GAINSCO?
GAINSCO has satisfactory financial strength ratings and unique coverage offerings, but it has limited availability, poor customer reviews, and expensive insurance rates.
Alani Asis is a personal finance freelance writer with nearly three years of experience in content creation. She has landed bylines with leading publications and brands like Insider, Fortune, LendingTree, and more. Alani aims to make personal finance approachable through fun, relatable, and digestible content.
Edited byKatie PowersAuto and Life Insurance Editor
Katie PowersAuto and Life Insurance Editor
Licensed auto and home insurance agent
3+ years experience in insurance and personal finance editing
Katie uses her knowledge and expertise as a licensed property and casualty agent in Massachusetts to help readers understand the complexities of insurance shopping.
Konstantin HalachevVP of Engineering & Data Science
7+ years experience in data analysis
Ph.D. in Computational Biology
Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.
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