GAINSCO car insurance review 2021


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GAINSCO Insurance was founded in 1978 and now conducts business through MGA Insurance. The company sells car insurance exclusively through independent brokers and specializes in insurance for high-risk drivers. GAINSCO Insurance claims it offers flexible policies, competitive pricing, great customer support and efficient claims handling.

For those considering GAINSCO auto insurance, it is important to weigh the pros and cons. While this may be a good option for high risk drivers, it may not meet the needs of a typical driver looking for more than the minimum.

GAINSCO car insurance

GAINSCO is one of several insurance providers primarily serving high risk drivers who do not qualify for standard insurance due to their driving history or creditworthiness. According to its website, GAINSCO specializes in auto insurance with minimum limits, which means that its policies are guaranteed to meet government minimum insurance requirements.

Types of coverage

Despite the promise of flexible policies, GAINSCO Insurance does not offer a wide range of insurance options. Here are the policy options available at GAINSCO:

  • Basic coverage: GAINSCO sells collision, hull, liability, health insurance and uninsured / underinsured motorist insurance.
  • No-fault insurance: GAINSCO offers faultless insurance that includes personal injury protection in certain states.
  • SR-22 certificates: A SR-22 Certificate proves you have the state’s minimum amount insured and is required for drivers in certain states who receive a DUI / DWI, lose their driver’s license, or have their car confiscated.
  • Non-owner insurance: Non-owner insurance provides liability, uninsured motorist, and health insurance coverage for drivers who do not own a vehicle but occasionally rent a car.
  • Towing and rental insurance: This coverage pays for the vehicle to be towed if your car breaks down and covers the cost of a rental car while your vehicle is being repaired.

Discounts

With GAINSCO car insurance, drivers can access: Discounts to save money on your premium:

  • Automatic payment
  • Pay the whole amount
  • Previous coverage
  • Previous GAINSCO coverage
  • In-agency transfer
  • pre sales
  • Tenure
  • Homeowner
  • renovation
  • Multi-car

Gainsco ratings, reviews, customer satisfaction and complaints

organization GAINSCO rating
Preferably B +
Better Business Bureau (BBB) A +
NAIC Complaint Index 5.02 (above average complaints)

GAINSCO auto insurance ratings may not be impressive to the typical car owner looking for an insurance provider. The company has a B + rating from AM Best, which indicates stable financial strength with a positive outlook. Most major insurance companies have, however Preferably Ratings of A- or better.

the BBB gives GAINSCO an A + rating, but the company has an average rating of 1 out of 5 stars based on 21 customer reviews. GAINSCO’s parent company, MGA Insurance, has above average value Customer complaintsaccording to the National Association of Insurance Commissioners (NAIC).

Reasons Gainsco is a Great Option

GAINSCO insurance could be a good option for high risk drivers who cannot get standard insurance from another company. GAINSCO also offers SR-22 certificates and non-owner insurance, which are not available from every insurance company.

Another benefit of GAINSCO Insurance is that the company offers flexible payment plans that are ideal for drivers who cannot afford auto insurance. GAINSCO offers 6 month policies and has three Payment plans—6.67% less in five installments, 22% less in four installments, or 25% less in five installments.

One of GAINSCO’s major drawbacks is its limited coverage area. Currently, only drivers in Alabama, Arizona, Florida, Georgia, New Mexico, Oklahoma, South Carolina, Tennessee, Texas, Utah, and Virginia can purchase insurance with GAINSCO.

The company also has very limited coverage options. GAINSCO does not offer gap insurance, accident compensation, new car replacement insurance or carpooling insurance. Drivers who want to adjust their policy should look for a different insurance company.

Additional guidelines from Gainsco

GAINSCO currently only sells auto insurance.

frequently asked Questions

What is the best car insurance?

The best car insurance is different for every driver. While some people value customer service, getting the lowest price is important to other drivers. Based on our research, some of the The best auto insurance are Amica, Progressive, Geico and Allstate.

Where can I get GAINSCO insurance?

GAINSCO Insurance is currently available in Alabama, Arizona, Florida, Georgia, New Mexico, Oklahoma, South Carolina, Tennessee, Texas, Utah, and Virginia.

Does GAINSCO offer cheap car insurance?

GAINSCO specializes in selling high risk auto insurance, not affordable auto insurance. Typically, high risk drivers pay the highest insurance premiums. GAINSCO may not offer the cheapest policies, but they do offer a variety of discounts that can help drivers lower their tariffs.

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