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.

Alani Asis
Written byAlani Asis
Alani Asis
Alani Asis
  • 3 years of content writing

  • Bylines with leading financial publications

Alani is a freelance writer specializing in personal finance. She aims to make complex topics more approachable through fun, digestible content.

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Katie Powers
Edited byKatie Powers
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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.

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Konstantin Halachev
Data reviewed byKonstantin Halachev
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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.

Updated November 7, 2024

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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.

How GAINSCO compares to other insurance companies

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User Reviews
2.8
IQ Score
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.

Read more driver reviews of GAINSCO
Lisa - November 2, 2024
Verified

So-so

They're good, I just wish their app was better. I can't see anything on it, like my policy, none of my information, etc.

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.
Factor
How GAINSCO Compares
RatesHigher
Customer serviceWorse than competitors
DiscountsFewer than competitors
AvailabilityLess than competitors
Financial strengthSimilar 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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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.

Driver
GAINSCO Average Quote
National Average
Drivers with a clean record$124$104
Drivers with a speeding ticket$173$145
Drivers with an at-fault accident$142$151
Drivers with a DUI$205$172
Teen drivers$216$188
Senior drivers$106$79
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.

State
GAINSCO Average Quote
State Average
Alabama$105$60
Arkansas$95$122
Arizona$126$92
Florida$223$165
Georgia$156$148
Illinois$94$79
Indiana$87$71
Mississippi$95$85
Missouri$126$100
New Mexico$88$69
Ohio $96$74
Oklahoma$104$88
South Carolina$239$168
Tennessee$98$74
Texas$163$119
Utah $118$108
Virginia$106$97
Wisconsin$62$62
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.

Lisa - November 2, 2024
Verified

So-so

They're good, I just wish their app was better. I can't see anything on it, like my policy, none of my information, etc.
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.

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
Score
What This Means
AM BestA-Excellent financial strength
J.D. PowerN/ANo rankings with J.D. Power
NAIC Complaint Index1.29More complaints than expected for a company of its size

GAINSCO car insurance coverage options

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.

  • illustration card https://a.storyblok.com/f/162273/x/5285c4cd74/uninsured-or-underinsured-motorist-coverage.svg

    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.

  • illustration card https://a.storyblok.com/f/162273/150x150/f82464c85b/car-sharing-96x96-orange_048-car-key.svg

    Rental car reimbursement

    Rental car insurance pays for the cost of a rental car while your vehicle receives repairs after a covered loss.

  • illustration card https://a.storyblok.com/f/162273/100x100/9997698e9e/emergency-roadside-service.svg

    Emergency roadside assistance

    Roadside assistance covers the cost of towing and labor if your car breaks down.

  • illustration card https://a.storyblok.com/f/162273/x/2d92436d68/protection-for-your-car.svg

    Custom parts equipment

    Custom parts coverage repairs or replaces custom after-market parts on your vehicle after a covered incident.

  • illustration card https://a.storyblok.com/f/162273/100x100/24f1697280/car-key.svg

    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.

Sources

  1. GAINSCO. "Are you driven?."
  2. GAINSCO. "Fast Facts Texas."
Alani Asis
Alani Asis

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.

Katie Powers
Edited byKatie PowersAuto and Life Insurance Editor
Photo of an Insurify author
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.

Featured in

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Konstantin Halachev
Data reviewed byKonstantin HalachevVP of Engineering & Data Science
Headshot of Konstantin Halachev, VP of Engineering at Insurify
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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