GAINSCO Auto Insurance Review [2024]

GAINSCO Auto Insurance offers affordable car insurance quotes to customers in 44 states. The company focuses on high-risk drivers, so it has fewer coverage options than many competitors. However, rates are competitive for risky drivers, and the company is rated A- by A.M. Best. Let’s closely examine GAINSCO Auto Insurance.

Gainsco Auto Insurance Average Monthly Rates vs U.S. Average

Does GAINSCO Auto Insurance have competitive rates?

A driver’s risk is a primary factor in the cost of coverage. Car insurance companies use various characteristics to determine a driver’s risk, and riskier drivers experience higher rates. Some of the common aspects used to assess risk include:

• Age
• Gender
• Location
• Mileage
• Type of vehicle
• Driving history
• Credit history

Most companies that focus on high-risk drivers have lower rates for those with a clean record but higher rates for those with multiple driving infractions. As a result, whether this type of company is the most affordable option largely depends on your driving record.

GAINSCO is one of the companies that focuses on high-risk drivers. Therefore, a rates comparison should involve customers with driving infractions. The following chart reveals the average annual rates for GAINSCO and competing companies relative to a driver with two accidents.

GAINSCO Insurance Average Annual Rates vs. Other Car Insurance Companies For Drivers with Two Accidents

As you can see, the average GAINSCO Auto Insurance quote is competitive compared to some of the top companies for drivers with two accidents.

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What coverages are offered by GAINSCO Auto Insurance?

Most car insurance companies sell coverages individually, allowing customers to customize their policies. Purchasing additional coverage results in more protection should you become involved in an accident.

Most states require drivers to carry a minimum amount of insurance. This requirement usually consists of liability coverage which is referred to as minimum coverage. Maintaining the minimum amount of insurance is the most affordable option.

Carrying a combination of liability, comprehensive, and collision protection is called full coverage. Most lenders require that drivers maintain full coverage until they pay off their loan. After paying off the loan, drivers can elect to decrease their coverage.

Knowing the types of coverages that a company offers will help drivers determine if they provide the best protection. For example, GAINSCO provides six of the seven standard auto insurance coverages. The following table discloses the common coverages offered by GAINSCO and their descriptions.

GAINSCO Insurance Coverages

As expected by a company focusing on high-risk drivers, GAINSCO Auto Insurance offers fewer coverages than many competitors. However, they provide enough standard options to protect drivers in most situations.

GAINSCO also offers nonowner coverage. This type of insurance is for drivers that don’t own a vehicle but plan on driving. Drivers must carry coverage, regardless of whether they are driving their vehicle. And this option covers you when you’re driving someone else’s car.

In addition to coverage, GAINSCO also assists drivers with SR-22 and FR-44 forms. Drivers with revoked licenses must file these documents to get driving privileges reinstated. GAINSCO will file the documents on a driver’s behalf.

Does GAINSCO Auto Insurance have discounts?

Car insurance can be a significant expense, particularly for high-risk drivers. GAINSCO Auto Insurance understands the importance of affordability and offers a range of discounts to help policyholders reduce their insurance costs. These discounts are designed to reward responsible driving habits and prudent insurance choices. Here are some of the valuable discounts you can take advantage of with GAINSCO Auto Insurance:

1. Safe Driver Discount: If you maintain a clean driving record without any accidents or violations, you may be eligible for GAINSCO’s safe driver discount. This rewards responsible driving behavior with lower premiums.
2. Multi-Vehicle Discount: Insuring multiple vehicles on the same policy can lead to substantial savings. GAINSCO offers a multi-vehicle discount for policyholders with more than one car on their policy.
3. Multi-Policy Discount: Bundling your auto insurance with another type of policy, such as homeowners or renters insurance, can lead to savings. GAINSCO offers a multi-policy discount for customers who choose to combine their insurance needs.
4. Good Student Discount: If you’re a student and maintain good grades, GAINSCO rewards your dedication to education. A good student discount can help reduce the cost of insurance for young drivers.
5. Defensive Driving Course Discount: Completing a defensive driving course demonstrates your commitment to safe driving. GAINSCO offers discounts to drivers who have successfully completed an approved defensive driving course.
6. Anti-Theft Device Discount: Equipping your vehicle with anti-theft devices or systems can help reduce the risk of theft or vandalism. GAINSCO provides a discount for vehicles with approved anti-theft features.
7. Pay in Full Discount: Paying your insurance premium in full, rather than in monthly installments, can lead to cost savings with GAINSCO Auto Insurance.
8. Electronic Payment Discount: Opting for electronic payment methods, such as automatic bank withdrawals, can qualify you for an additional discount.
9. Renewal Discount: Staying loyal to GAINSCO and renewing your policy can lead to discounts and rewards for your continued business.

Additionally, GAINSCO provides various auto insurance discounts that depend on the driver’s payment habits and coverage selections. The following table displays some of the saving opportunities offered by GAINSCO.

GAINSCO Insurance Discounts

Customers can bundle discounts to create the lowest possible rates. When buying coverage, asking a representative about all discount options will ensure that you take advantage of all saving opportunities.

Your Advocate in Claims: GAINSCO Auto Insurance’s Commitment

Ease of Filing a Claim (Online, Over the Phone, Mobile Apps)

GAINSCO Auto Insurance allows customers to file claims through multiple convenient methods. Whether you prefer an online approach or prefer speaking with a representative over the phone, GAINSCO has you covered. The company’s user-friendly website and mobile app also make it easy for policyholders to initiate and track their claims.

Average Claim Processing Time

The average claim processing time at GAINSCO Auto Insurance can vary depending on the complexity of the claim and the availability of necessary documentation. However, the company strives to expedite the process to ensure prompt resolutions. Customers can find detailed information about the expected processing times for different types of claims on the company’s website.

Customer Feedback on Claim Resolutions and Payouts

Customer feedback is a valuable indicator of an insurance company’s performance in handling claims. At GAINSCO Auto Insurance, customer reviews and experiences play a crucial role in shaping the company’s approach to claim resolutions and payouts. Prospective policyholders can access customer reviews and ratings to gain insights into the company’s track record in this aspect.

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GAINSCO’s Technological Edge: Deeper Dive Into Digital Features

Mobile App Features and Functionality

While the reviewed content does not delve into specific details about GAINSCO Auto Insurance’s mobile app, it is essential to highlight the significance of mobile apps in today’s insurance landscape. Many insurance companies offer mobile apps that enable policyholders to manage their policies, file claims, make payments, and access important documents on-the-go.

To learn more about GAINSCO’s mobile app features and functionality, customers can visit the official website or app store for a comprehensive overview.

Online Account Management Capabilities

GAINSCO Auto Insurance provides online account management capabilities through its customer portal, as mentioned in the claims process section. Policyholders can access their accounts, view policy details, submit claims, and even upload documentation through this online platform.

For a more in-depth understanding of the online account management capabilities and features, customers are encouraged to explore the company’s official website and the customer portal.

Digital Tools and Resources

The reviewed content does not explicitly mention additional digital tools and resources offered by GAINSCO Auto Insurance. However, many insurance companies provide educational resources, blogs, and tools on their websites to help customers make informed decisions about their insurance coverage.

To explore the digital tools and resources available through GAINSCO, customers can visit the company’s website and navigate to the relevant sections for a comprehensive overview.

Customer Reviews for GAINSCO Auto Insurance

When considering an auto insurance provider, it’s essential to take into account the experiences and feedback from current and past policyholders. Customer reviews offer valuable insights into the company’s performance, customer service, and overall satisfaction. Here are some key aspects of GAINSCO Auto Insurance based on customer reviews:

• Affordability for High-Risk Drivers: Many high-risk drivers have found GAINSCO Auto Insurance to be an affordable option. The company specializes in providing coverage for drivers with less-than-ideal driving records, and customers have appreciated the competitive rates offered, especially for those in this category.
• Discount Opportunities: Policyholders have noted that GAINSCO offers various discounts that help in reducing insurance costs. These discounts reward responsible driving habits and insurance choices, making it easier for customers to save on their premiums.
• Ease of Claim Processing: Customers have reported positive experiences when it comes to filing and processing claims. GAINSCO Auto Insurance offers multiple methods for filing claims, including online, over the phone, and through their mobile app. This flexibility makes it convenient for policyholders to initiate and track their claims.

How is GAINSCO Auto Insurance rated?

Credit rating agencies regularly review and rate insurance companies according to their financial strength. Customers can use these ratings to determine the company’s likelihood of providing a payout when they file claims.

GAINSCO Auto Insurance has been rated A- by A.M. Best. While A.M. Best is the only agency to review GAINSCO, it’s the most trusted organization. The A- rating is excellent and indicates that GAINSCO will usually provide a payout when customers file a claim.

Does GAINSCO Auto Insurance have any complaints?

Reviewing complaints about insurance companies helps customers determine the quality of service they’ll receive. The Better Business Bureau (BBB) and the National Association of Insurance Commissioners (NAIC) review complaints regarding most insurance companies.

At the time of this review, the BBB has received 117 complaints about GAINSCO during the past three years. Of those 117 complaints, 42 have occurred in the last 12 months, and most involve the company’s products and services.

Additionally, 25 customers have completed GAINSCO Auto Insurance reviews on the BBB website. These reviews have an average rating of one out of five stars.

The NAIC hasn’t reviewed GAINSCO but has examined its parent company, State Farm. According to the NAIC, State Farm has 229 complaints and a complaint index ratio of 4.73, indicating far more grievances than the average company of a similar size.

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How can you make GAINSCO Auto Insurance payments?

Most insurance companies provide multiple ways to make policy payments. The best option depends on convenience and processing time. GAINSCO provides four methods for making payments, including:

• Online
• Phone
• Visiting a local agent
• Mail

Additionally, there are four GAINSCO Auto Insurance payment methods, including:

• Debit card
• Credit card
• Check
• Money order

Paying online is typically the easiest option. Customers can use their GAINSCO website login information to access the payment section of the customer portal.

Those that prefer to pay by phone can contact a representative by calling the GAINSCO Auto Insurance phone number at 1-866-424-6726. Similar to the claims department, representatives can assist you Monday through Friday between 7 a.m. and 7 p.m. (CST).

While GAINSCO offers coverage in 44 states, it has physical offices in 17 states. Customers can visit an agent’s office in one of these states to make an in-person payment. The GAINSCO Auto Insurance locations include:

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

Additionally, customers can mail a check to the company at the following address:

GAINSCO Auto Insurance
P.O. Box 199023
Dallas, Texas, 75219-9023

While an online payment is the quickest option, paying by mail will take longer to process.

GAINSCO Auto Insurance: The Bottom Line

Finding auto coverage as a high-risk driver can be difficult. However, GAINSCO Auto Insurance offers affordable options to high-risk drivers and multiple discounts to lower rates. The State Farm subsidiary has also been rated A- by A.M. Best.

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