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GAINSCO Insurance review 2023

Updated Jan 20, 2023
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At a glance

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Bottom Line

Policyholders with less-than-stellar rating factors such as a lapse of insurance, at-fault accidents, moving violations or (in some states) a low insurance-based credit score might consider GAINSCO as their company of choice.

Pros
  • Offers high-risk car insurance

  • Full-service mobile app available

Cons
  • Higher-than-average number of complaints with the NAIC

  • Not available nationwide

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What’s new with GAINSCO Insurance?

In 2021, AM Best upgraded GAINSCO’s financial strength from B++ to A-, moving them from a rating of “Good” to “Excellent.”

GAINSCO Insurance car insurance

Owned by State Farm, GAINSCO sells car insurance exclusively through independent agents and specializes in non-standard and minimum-limits car insurance. Bankrate’s GAINSCO Insurance insurance review finds that it offers policies tailored towards drivers looking for high-risk car insurance. The company may insure drivers with suspended or expired licenses, and it provides SR-22 filings as well as non-owner car insurance. However, this carrier may not meet the needs of a typical driver looking for more robust coverage.

GAINSCO is available in 18 states, including Alabama, Arizona, Arkansas, Florida, Georgia, Illinois, Indiana, Mississippi, Missouri, New Mexico, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Virginia and Wisconsin.

Along with digital options like an online policy portal and mobile app, GAINSCO has several payment plans and discount options, which may appeal to those looking for the cheapest car insurance.

GAINSCO offers no-frills coverage options, including the standard types you would expect, such as liability, uninsured motorist, underinsured motorist, personal injury protection, comprehensive and collision. In addition to these, some add-ons are available, including towing and labor and rental reimbursement.

Pros and cons of GAINSCO Insurance car insurance

Although comparing car insurance rates is an integral part of the shopping process, you may also find it beneficial to look at the big picture by evaluating a company's pros and cons.

PROS

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    Drivers who can’t find coverage with standard carriers may find that GAINSCO will offer them a policy

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    Owned by State Farm, the largest U.S. insurance company by market share

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    Company has bilingual agents on staff

CONS

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    Coverage options and product lines are sparse

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    More than double the number of NAIC complaints than average

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    Customer service contact center is not open 24/7

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GAINSCO Insurance car insurance cost

The price you pay for auto insurance depends on several factors, including your driving record, location, type of vehicle you drive, and in some states, your insurance-based credit score. With this in mind, you may be paying more or less than the average rate. Premium data from GAINSCO Insurance is unavailable, so you will need to request a quote to find out how much its coverage will cost.

GAINSCO Insurance car insurance discounts

GAINSCO offers a handful of discounts that may help you save on your car insurance, including:

GAINSCO Insurance car tools and benefits

GAINSCO offers few other car insurance benefits besides providing policies to drivers who may not find coverage elsewhere. It does, however, have a helpful guide to auto insurance that could help new drivers understand their policy. The GAINSCO website also includes an easy-to-digest infographic that breaks down various facts regarding U.S. auto insurance.

GAINSCO Insurance home insurance

GAINSCO does not write or sell homeowners insurance, but homeowners coverage may be available through GAINSCO’s partner Hippo Insurance. You may want to speak directly with a Hippo agent for more information.

GAINSCO Insurance customer satisfaction

Among the metrics we use, Bankrate’s insurance editorial team studies third-party scores from J.D. Power to evaluate customer satisfaction. However, J.D. Power did not include GAINSCO in any of its 2022 auto insurance studies, which is not uncommon for smaller regional carriers. In lieu of these scores, you might find it helpful to speak with friends or family insured with GAINSCO to ask about their experience, especially if you are searching for the best car insurance company.

Along with J.D. Power scores, Bankrate analyzes where an insurance company falls on the National Association of Insurance Commissioners (NAIC) complaint index. To understand this data, know that the NAIC issues insurance companies an index score that measures the number of complaints people lodge against them. The baseline (or average) number of complaints is 1.0. A company with an index score above 1.0 receives more complaints than average. The opposite also applies — if a company scores lower than 1.0, it receives fewer complaints than average.

GAINSCO Insurance auto satisfaction

According to the NAIC, GAINSCO receives more than twice the number of complaints as expected for a company of its size. This fact, coupled with the lack of data from J.D. Powers’ 2022 insurance studies, means that drivers with customer service at top-of-mind may want to do further research before making the switch.

How to file a claim with GAINSCO Insurance

Filing a car insurance claim can seem intimidating, but gathering some basic information beforehand can help streamline the process. Your insurance company may ask for the vehicle and driver details for all involved in the accident, your accounting of what happened, any supporting documentation such as a police report and, if available, damage photos.

Once you have what you need, you can file a claim with GAINSCO Insurance car insurance by:

GAINSCO Insurance availability

GAINSCO is available in 18 states, including:

  • Alabama
  • Arizona
  • Arkansas
  • Florida
  • Georgia
  • Illinois
  • Indiana
  • Mississippi
  • Missouri
  • New Mexico
  • Ohio
  • Oklahoma
  • South Carolina
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Wisconsin

Other GAINSCO Insurance perks worth considering

Drivers in covered GAINSCO states may be interested in the company’s other available features.

  • Local agents: GAINSCO operates through a network of more than 7,000 independent agents.
  • Mobile app: GAINSCO has a full-service mobile app available to Android users through Google Play. Apple users only have access to the company’s Quick Estimate claims app.
  • Digital tools: GAINSCO’s website offers digital quotes, a repository for frequently asked questions and an online portal for making payments or managing your policy.
  • Assistance for Spanish speakers: Bilingual customer support is available in English or Spanish at 1-866-GAINSCO.

GAINSCO Insurance corporate sustainability

GAINSCO Gives is GAINSCO’s program for giving back to the community, which the company shares is an “essential part of the GAINSCO culture.” Most recently, GAINSCO sales leaders spent the 2022 holiday season volunteering and donating to their chosen charities. Among the organizations selected included Operation Blue Santa, which provides Austin families in need with gifts during the holiday, and Ironton Lions Club, which supports multiple community youth and senior citizen programs.

If our GAINSCO Insurance insurance review left you wondering if this company is a good fit, you could consider requesting quotes from the carriers below:

GAINSCO Insurance vs. Travelers

Bankrate named Travelers one of the best car insurance companies on the market, thanks to its strong network of independent agents, savings opportunities and financial track record. Travelers offers auto, home and umbrella insurance, among others. If you’re looking for multiple product lines or broader coverage, you may want to consider this provider.

Learn more: Travelers Insurance review

GAINSCO Insurance vs. Geico

Geico could be a good alternative thanks to its nationwide availability, excellent financial strength and dozens of discounts. It’s known for providing coverage to policyholders who have incidents on their record, and is highly rated by agencies such as J.D. Power and AM Best.

Learn more: Geico Insurance review

GAINSCO Insurance vs. Dairyland

If you’re looking for a company that offers non-standard car insurance and issues SR-22s, but GAINSCO doesn’t write policies in your state, Dairyland may be an option to consider. Dairyland is available in 37 states.

Learn more: Dairyland Insurance review

Is GAINSCO Insurance a good insurance company?

It could be, depending on your circumstance and location. GAINSCO Insurance car insurance may be best for drivers seeking high-risk auto insurance, SR-22 filings and minimum coverage. It’s also owned by State Farm, which could appeal to some, as it made our list of best car insurance companies. However, shoppers with a typical driving record or standard rating factors might find GAINSCO’s coverage options lacking. Customer service may also be an issue for this company, based on its NAIC index score.

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