If you’re a high-risk driver struggling to find car insurance and you live in one of the 11 states Gainsco services, you may be able to get a better policy for a lower price with this company. If you’re not considered a high-risk driver, you’re likely better off looking elsewhere.
Auto Insurance Review: Gainsco
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- Auto Insurance Review - Gainsco
Score675/5
satisfaction
0/5
discounts
3/5
stability
pros
Specializes in nonstandard insurance
Offers discounts for high-risk drivers
Provides online quotes
cons
A high number of complaints
Their website does not offer coverage details
Discounts are not clearly listed online
Gainsco is a Texas-based auto insurance company offering comprehensive coverage for U.S. drivers. Gainsco is not available in every state, but in states they service, they may be a good option for high-risk drivers. Gainsco specializes in nonstandard insurance, which means low-risk drivers might not experience any benefits in signing up for this company's insurance policies.
How Does Gainsco Auto Insurance Rate?
The Better Business Bureau gives Gainsco an A+ rating for the company overall. However, there are several negative customer reviews indicating that there might be customer service issues.
Customer Satisfaction Rating
Gainsco customers have rated this company 1 out of 5 stars, on average, on their Better Business Bureau page. The majority of the complaints center around billing confusion (misunderstood late fees and policy rate increases) and claims coverage issues.
Financial Strength
Gainsco is owned by parent company MGA Insurance, making their financial backing even stronger. They’re rated as financially stable by AM Best.
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Gainsco Insurance Features
Gainsco’s main appeal is its fully individualized policies for high-risk drivers. Gainsco offers flexible coverage options and will work with you to build a completely custom policy.
| Type of Feature | Description |
|---|---|
| Online Price Quotes | Need a quote? Gainsco lets you request this online by filling out a few simple fields. |
| Online Bill Pay | Quickly pay your bill and schedule payments in your online account. You can also view payment history and update your payment method. |
| Online Claims | File, track and manage your auto claims entirely online, so you know where you are throughout every step of the process. |
| Mobile App | Manage your policy and make changes all from your smartphone. You can make payments, ask questions and file claims via the app, as well. |
Gainsco Auto Coverage
Gainsco focuses on offering the minimum coverage options required by your state, to help you save money on your policy. The following are the types of coverage options you can expect with Gainsco.
| Type of Coverage | Description |
|---|---|
| Collision | This is coverage that pays for your car to be repaired or replaced if it’s damaged in an accident. Most states require this insurance. |
| Liability | If you’re found at fault in a car accident, liability coverage will pay for the driver’s medical bills, hospital stays, lost income and other expenses. |
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Optional Insurance Features and Coverage
Since Gainsco is a nonstandard insurance company, they also offer new extra insurance coverage options.
| Type of Option | Description |
|---|---|
| Other | Non-owner insurance: If you don’t own a car, this policy can protect you from potentially being labeled as a high-risk driver due to a lapse in coverage. SR-22 form: If you’ve been involved in a DUI or other auto violation incident, you might be required to obtain an SR-22 form to show your insurance policy meets the state’s minimum coverage requirements. Gainsco will file this form on your behalf, setting them apart from other high-risk insurance providers. |
Other Gainsco Insurance Products
Gainsco does not offer many additional insurance options, but there are two types you might want to look into for bundled discounts.
| Type of Product | Description |
|---|---|
| Homeowners Insurance | While Gainsco does not offer their own homeowners insurance policy, they have partnered with Hippo to offer this type of insurance to protect your home and the belongings inside. |
| Renters Insurance | This type of insurance protects your belongings in case of a natural disaster or theft. Some landlords require tenants to purchase renters insurance. |
How to Make a Car Insurance Claim With Gainsco
To file a claim with Gainsco, you can call their customer service number, go online or file through your mobile app.
Contact Gainsco Car Insurance
Methodology and Assumptions
To evaluate and review auto insurance companies, MoneyGeek carefully weighs factors such as price, financial strength, policy features, customer satisfaction, service and other leading indicators. MoneyGeek also references publicly available data from industry leaders such as J.D. Power, AM Best and the National Association of Insurance Commissioners (NAIC) and the Better Business Bureau. Learn more about MoneyGeek’s review methodology here.
SOURCES
- AM Best. "MGA Insurance 2019 Credit Ratings." Accessed May 5, 2020.
- Better Business Bureau. "Gainsco Auto Insurance." Accessed May 6, 2020.
