GAINSCO Insurance Review 2024

• High-risk drivers: First and foremost, GAINSCO specializes in insuring higher-risk drivers and those seeking SR-22 coverage; in fact, the company was founded specifically for this reason.
• Spanish speakers: GAINSCO offers bilingual customer support, making the company a good option for those more comfortable conversing in Spanish.
• Drivers of older vehicles: GAINSCO is best for minimum coverage, which excludes comprehensive and collision. Drivers of older vehicles may not actually need these coverages because the cost of the premiums may exceed the vehicle’s value

Where is GAINSCO available?

Purchased by State Farm in 2021, GAINSCO offers policies that are underwritten by MGA Insurance company. While GAINSCO is currently available in only 19 states, its business has expanded and availability may continue to grow. As of now, GAINSCO is available in:

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

Why I’d Like to Learn More About GAINSCO Insurance

I don’t own a car, but I do rent them fairly regularly; recently, I’ve become more interested in purchasing a non-owners policy. GAINSCO specializes in nontraditional policies, so I set out to learn more about their insurance offerings for non-owners.

Additionally, while I don’t need an SR-22, there are several reasons why drivers with an SR-22 might need non-owners insurance. If you’re required to file an SR-22 but no longer own a car, you need a non-owner policy in order to show you meet the state’s minimum auto insurance requirements. This may be essential to get your license reinstated and avoid further penalties.

As with any insurer, the exact cost of your policy will depend on your age, ZIP code, driving history, and chosen coverages.

A full coverage policy from GAINSCO costs on average $2,221 per year, which is around $250 higher than the national average. Its minimum coverage also typically comes in about $300 more than the national average at $800.

Still, GAINSCO’s above-average premiums are not all that surprising, given that auto insurance policies for high-risk drivers are typically more expensive. If you fall into a high-risk category, GAINSCO may offer a more affordable option than other providers.

Those interested in coverage from GAINSCO should either use the online quote tool or call customer service for a quote specific to them and their insurance needs.

Though GAINSCO offers fewer discounts compared to some other insurance providers, there are still several ways to save on your GAINSCO policy.

• Autopay discount: Signing up for GAINSCO’s auto pay program will result in lower premiums.
• Multi-car discount: GAINSCO rewards customers who insure more than one vehicle on a policy.
• Prior coverage discount: Get a discount if you have four continuous months of prior auto insurance coverage, with a less than 60-day coverage lapse before your GAINSCO policy goes into effect.
• Homeowners discount: Like many insurance providers, GAINSCO offers a discount to homeowners.
• Advance purchase discount: Purchasing your GAINSCO policy three to 30 days before the policy goes into effect qualifies customers for the advance purchase discount. This puts existing customers whose policies are up for renewal at a savings advantage.
• Pay-in-full discount: Customers who pay in advance for their auto policy are eligible for a discount.

As someone who rents cars frequently, I was curious if I might be able to get a non-owners quote from GAINSCO. It was clear to me, however, from a helpful infographic on GAINSCO’s website that one of the company’s limitations is its limited availability.

GAINSCO appeared not to offer insurance at all in Massachusetts, which is where I live. Still, to thoroughly review GAINSCO’s auto insurance offerings, along with its customer service experience, I wanted to learn more about its non-owners policies in other states.

The company provides the option to call an agent, and the number is highlighted very clearly on the landing page of its website.

GAINSCO specializes in minimum coverage, which is mandated by almost every state (New Hampshire and Virginia being the exception). Required coverages and limits vary from state to state but almost always include bodily injury and property damage liability, which help pay for the other party’s injuries and damages if you’re at fault in an accident. Some states also require uninsured motorist coverage and medical payments/personal injury protection.

In addition to minimum limits coverage, GAINSCO offers:

• Collision coverage: Covers damage caused to your vehicle in a collision, regardless of who is at fault
• Comprehensive coverage: Includes any damage or loss of vehicle that may occur as a result of something other than a collision; for example, fire, extreme weather, and vandalism.
• Rental reimbursement: Covers a daily set amount for replacement rental car while your car is being repaired (requires collision and comprehensive)
• Roadside assistance: Coverage toward services if your car breaks down, like towing, tire changes, and jump-starts

Because GAINSCO is a smaller insurer, less data is available on customer satisfaction rates. Still, according to CRASH Network’s 2024 Insurer Report Card — which surveys collision repair shops on how well insurance companies guarantee quality repairs and customer service for drivers — GAINSCO’s level of customer satisfaction is below the national average. Its D+ grade ranks it 81 out of 88 insurers reviewed.

The Better Business Bureau has awarded GAINSCO 1 out of 5 stars on its customer review index, based on how likely a company is to interact with its customers. That said, insurance companies typically have low scores from the BBB, in my experience.

While customer service may be lacking, GAINSCO rates well in terms of financial strength. In 2021 AM Best upgraded GAINSCO’s financial score rating from a B++ to an A-, which puts GAINSCO at an excellent rating.

To maximize your chances of a smooth claim filing, Gainsco suggests not to leave the scene of the accident, report the claim immediately at 1-866-GAINSCO, and, if possible, take photographs of the accident scene and any damage to vehicles. You should not admit fault or discuss insurance coverage.

Once a claim has been filed, policyholders can track progress and updates through the online GAINSCO customer portal. Photographs of vehicle damage caused by an accident can easily be uploaded directly to the app.

In addition to its online customer portal and online quote tools, GAINSCO has an app for both Android and iOS, called the GAINSCO Quick Estimate app. The iOS app is rated 3 out of 5 stars, and the Android app is rated 4.2 out of 5 stars.

While iOS users can only file claims via the GAINSCO app, Android users can manage their entire account. Through the GAINSCO quick estimate app, Android users may:

• Request a quote
• Report a claim
• Make a payment
• Request a payment
• Contact GAINSCO
• Access latest company news

Android users report this app is efficient and easy to use, particularly for filing a claim.

We base our reviews of the following:

1. Pricing and coverage: We analyze company affordability, based on the competitiveness of a company in relation to the coverage offered, along with any discounts it may offer.
2. Customer experience: We use our firsthand knowledge and experiences as auto insurance customers to offer insight into each provider we review. This includes the shopping process and ease of engagement.
3. Claims handling: We use third-party data, customer feedback, and our own experiences to analyze and evaluate the primary service of any insurance company: claims fulfillment.
4. Industry ratings and reviews: We evaluate customer satisfaction, complaint records, and financial strength based on information provided from independent agencies.
5. Digital tools and technology: We review and evaluate online tools, such as websites, mobile apps, and online account management, based on functionality and ease of use.