Gainsco Car Insurance Review & Ratings (2024)

Gainsco can help if you’re looking for the minimum amount of coverage required by your state. However, check with your state to see the minimum level of liability you need so that you don’t face any fines or infractions for driving without a valid policy.  You can easily obtain a quote through their website or app or speak with a Gainsco independent agent about your coverage options.

First, however, pay attention to Gainsco car insurance reviews in order to determine if the customer service at your local office is acceptable.  The company has more complaints than other insurers of its size, so it can help to compare quotes from multiple local companies. 

What You Should Know About Gainsco Auto Insurance

When you’re shopping for car insurance, looking at customer reviews can lend insight into what a company is going to provide in terms of customer service. You may also be interested in the financial strength rating of companies, as these determine how reliable a company will be when paying out claims.

Gainsco has a rating of A- with A.M. Best, putting them into the category of ‘Excellent’ in terms of financial strength. A.M. Best stated that this increase in the rating was due to Gainsco’s ability to provide payouts to claims submitted.

It should be noted that Gainsco does not currently have a rating with either J.D. Power or S&P, which is typical for smaller companies its size. Learn how to document damages for car insurance claims.

Other Facets of Gainsco Car Insurance 

There are other aspects of Gainsco that make the company worth looking into.  The following are a few of the additional perks offered by Gainsco car insurance: 

• Two different mobile apps. You’re able to download both the Gainsco auto insurance and the Gainsco Quick Estimate app with Google Play. The Apple app store only has the Gainsco Quick Estimate app. 
• Gainsco’s helpful website. You’re able to manage your policy and pay your bill but also ask questions, see customer reviews, get a quote, or even become an agent. The website also provides the most recent information in terms of the company’s growth and ratings. 
• Bilingual customer support. Customer service is available in both Spanish and English. 
• Work with agents directly. Gainsco operates using over twenty thousand independent agents, so there is a wide variety of locations to work directly with someone should you need assistance.

The Gainsco website also states that it offers flexible and customizable policies, depending on the type of coverage you’re looking to purchase. You can also obtain other company information from the website, including the A.M. Best rating, home office address, and the main customer service phone number.

Unfortunately, the website does not list Gainsco policy options. You will need to call and speak with an agent to learn what kind of coverage is available in your state.

Why does Gainsco use independent agents?

Gainsco chooses to use independent agents so that you’re able to work with someone in your area who understands what you need from your insurance policy. This can include knowing local traffic patterns, how congested roadways can get, and whether or not you’ll need something like comprehensive car insurance to cover rodent damage to a car.

Should you buy Gainsco car insurance?

When making a decision, it’s crucial to consider all aspects of a company, including its reliability in the event that you need to file a claim and its customer service should you have any questions.  With Gainsco, you have the option to work with agents, use the mobile app, and reference the FAQ section of the website.

However, it’s unclear from the website if Gainsco sells the type of coverage you might be looking for.  Comparison shopping can be a great way to compare companies, not just for the rates but for the overall customer experience as well. While Gainsco offers minimum coverage policy options, you should always determine what your vehicle needs in order to be protected on the road. 

For example, if it’s a new vehicle, or you’re concerned about the driving conditions where you’re located, you may want to think about getting a wider variety of coverage or higher limits than what’s included in your car insurance policy.

Gainsco Auto Insurance Coverage Options

Gainsco provides coverage to drivers who may be considered high-risk. This means that there could be tickets on your record or other infractions, and you will still be able to find coverage with Gainsco. Often rates will be higher after an accident or ticket, so it can be difficult to find affordable auto insurance. 

Gainsco offers the following types of coverage to high-risk drivers: 

• SR-22 insurance. It’s not a specific insurance policy, but an SR-22 form acts as proof that you carry the state-required minimum coverage after losing your license. Many states require SR-22 after multiple accidents, reckless driving, or DUIs.
• Vehicle non-owner insurance. Non-owner insurance provides minimum liability coverage to drivers who don’t own a car but borrow or rent vehicles often. If you need to file SR-22 and don’t own a car, you may be required to have non-owner insurance before you’re able to drive again. 

Unfortunately, the website does not list specific policy types, so it’s unclear whether you’re able to get a full coverage car insurance policy from Gainsco or not. You will have to speak with an agent to learn more about its coverage options.

When do you need an SR-22 form?

Drivers who have a DUI or other serious driving infractions may be required to carry an SR-22 form as proof of insurance while their license is suspended. As mentioned above, an SR-22 form isn’t car insurance but a document showing you still carry at least the minimum liability insurance required by your state.

You often purchase the form in six or 12-month increments, but you’re required to maintain SR-22 for as long as you are without your license,  If your state DMV requires you to file an SR-22 form, and Gainsco operates within your state, you would be able to purchase SR-22 insurance through the company.

What type of car insurance should you purchase?

You don’t have to be a high-risk driver to want more coverage than is necessary. People often use certain factors when choosing an insurance policy, such as the age of their vehicle and their annual mileage. For example, if you drive a new or luxury vehicle or live in a state with unpredictable weather, you may want to carry more than just the state minimum.

Here are a few car insurance coverages to consider if you want to be better protected:

• Liability coverage. Liability car insurance is mandatory in most states because it protects you financially if you injure another driver or damage their vehicle or property in an accident. 
• Collision coverage. There is a difference between collision and comprehensive, even though they are often purchased together. Collision car insurance coverage offers financial protection in the event you’re in an accident with another driver. 
• Comprehensive coverage. Comprehensive protects you from anything other than a collision with another vehicle. This can include damage done to your vehicle by an animal, a flood, or fire damage. Compare collision vs. comprehensive car insurance.
• Uninsured or underinsured motorist coverage (UM/UIM). Suppose you get into an accident with a driver who doesn’t have insurance or only carries a minimum coverage policy. Having UM/UIM can keep you from having to pay out-of-pocket if their insurance doesn’t cover the damages.

While Gainsco’s website doesn’t currently list the types of policies you’re able to purchase, we highly recommend that you purchase more than jus the basic requirements so that you’re financially protected. Discounts are available to help lower your rates if price is an issue.

Gainsco Auto Insurance Rates Breakdown

Most companies use the same factors when setting auto insurance rates, but how each weighs these variables can vary depending on the company and local state insurance laws. That’s why comparing multiple companies is the best way to get the cheapest car insurance quotes.

The following are some examples of what an insurance company like Gainsco may look at to determine how much you pay for car insurance:

• Your driving record. A clean driving record can help lower your rates, but most companies look back between three and five years for any accidents, DUIs, speeding tickets, or other infractions.
• Your location. Gainsco auto insurance rates are based on ZIP code, so your quotes may look different than another driver who lives a few blocks away. 
• Your vehicle. Newer cars, sports cars, and luxury vehicles are more expensive to repair, so policies will reflect this increased cost by charging higher rates.

Companies use other factors to determine what you will pay each month for car insurance, including your marital status, credit score, and annual mileage. You should also inform your insurance company if you garage your vehicle or are not going to be driving for long periods of time so you can reduce coverage and save money.

What is there to know about Gainsco car insurance costs?

Gainsco specializes in selling the state minimum requirements for auto insurance. This means that you should be aware of what is required in terms of car insurance in your state. If you fail to meet the minimum requirements, you may be fined, lose your driver’s license or both.

The average amount you will pay for car insurance is going to change depending on the state you live in, which means that Gainsco could be either cheaper or more expensive than the state average based on location alone. 

Other deciding factors can include your credit score, your driving report, marital status, and the type of car you drive. Since Gainsco focuses on selling car insurance to drivers who are high-risk, chances are you will compare quotes against other companies at potentially higher rates. 

Gainsco Car Insurance Rates vs. Other Companies

Currently, there are no average online rates since the Gainsco website is sparse in policy information. However, you can look at data from other insurance companies to get an idea of how much auto insurance costs near you. 

Take for example a few of the leading insurance companies — Progressive, Geico, Allstate, State Farm, and Nationwide — offer minimum coverage. So, using a 45-year-old male with a clean record first, you can look at what the rates would be: 

Average Monthly Minimum Coverage Auto Insurance Rates for a 45-year-old-male with a Clean Record