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GAINSCO Auto Insurance Review | Best Car Insurance

Bestmoney Staff
Apr. 04, 2024
3 min read
BestMoney Staff
Gainsco Summary
GAINSCO Auto Insurance is the car insurance division of Texas financial services company GAINSCO, Inc. It offers coverage to drivers in 9 states through its principal insurance subsidiary, MGA Insurance Company, Inc. GAINSCO’s auto policies are sold primarily through licensed, independent insurance agents who live and work in your local area.

Gainsco at a glance

8.8
Editorial score

Insurance Features

24/7 emergency roadside assistance, choose your deductible, mobile claims, AI claims technology
10.0

Discounts Available

Multi-policy discounts and bundle discounts, safe drivers
8.0

Customer Service

Multiple communication options for support, above average rating
8.0

Online Experience

User friendly site, online application, learning resources
8.0

Direct Insurer?

Yes, direct insurer
10.0

GAINSCO Pros and Cons

Pro: GAINSCO stands for local knowledge, offering personal auto coverage through independent retail agents in 4 states in the southwest (Arizona, New Mexico, Oklahoma, and Texas) and 5 states in the south (Florida, Georgia, South Carolina, Tennessee, and Virginia). Each state has its own unique legal requirements, and GAINSCO’s independent agents are well-equipped to help tailor policies to the needs of the customer.

Con: If you live in any of the 41 states where GAINSCO doesn’t operate, then we’re sorry to say this service isn’t for you. GAINSCO has been offering auto insurance for decades, so it’s hard to see it rolling out its insurance coverage to other states any time soon. With that said, we will update this space if GAINSCO ever does expand to other states.

Types of Auto Insurance

Each GAINSCO Auto Insurance auto policy begins with the standard types of coverage such as liability, comprehensive and collision.

Bodily Injury Liability. Covers all expenses related to bodily injuries suffered by other drivers when you are at fault. Compulsory in all states where GAINSCO operates, except Florida, where it is voluntary.

Property Damage Liability. Covers all expenses related to damage of another person’s property when you are at fault. Compulsory in all states where GAINSCO operates.

Collision. Covers expenses related to vehicle repair and replacement if your vehicle is damaged in a collision, regardless of who was at fault. This coverage is voluntary.

Comprehensive. Covers repairs and replacement if your vehicle suffers damage in a non-collision incident such as fire, flood, vandalism, theft, or hitting an animal. This coverage is voluntary.

Personal Injury Protection. Covers medical and rehabilitation expenses, and in some cases lost wages for you and any other passengers, no matter who was at fault. Voluntary in all states where GAINSCO operates.

Uninsured and Underinsured Motorist. Covers the other driver’s liabilities if they are uninsured or underinsured. This type of coverage is voluntary. Voluntary in all states where GAINSCO operates, except South Carolina and Virginia, where it is compulsory.

Additional Features

GAINSCO’s website doesn’t offer much information about optional add-ons and features. We did a bit of digging around, and found that GAINSCO offers the following add-ons. We weren’t able to confirm if GAINSCO offers any other common add-ons such as gap coverage, equipment coverage, or rideshare coverage. Moreover, GAINSCO’s website doesn’t reveal much about discounts and rewards.

Rental car reimbursement. Pays a set daily amount for a rental car if your car is in the shop due to a covered incident.

Towing coverage. Pays for towing charges when your car stops working.

Payment plans. Your auto insurance premium can be paid using an installment payment plan.

How to Apply

GAINSCO is a little different to the major insurance companies in that it sells policies almost exclusively through independent insurance agents. To begin the process, request a quote on the GAINSCO website or call 1866.GAINSCO to request a call back from one of GAINSCO’s 7,000 independent agents.

The process of applying to GAINSCO is similar to applying to any other insurance carrier. Although GAINSCO has different agents serving each state, the process of applying is pretty much the same – no matter which of the three states you live and drive in.

Before applying to GAINSCO Auto Insurance, it’s a good idea to have the following information prepared in advance.

  • Driver information (for you and any other drivers on the policy).

  • Vehicle information (including make, model, year, and mileage).

  • Driving history (includes any claims or reported incidents involving you or co-policyholders).

  • Any other details that could strengthen your case for a lower rate or help you qualify for a discount (e.g. good driving behavior)

Filing a Claim

There are subtle differences to filing a claim in each state, so it’s a good thing GAINSCO has a separate claims department for each of the 9 states in which it operates. Although policies are sold through independent agents, all claims go through GAINSCO’s in-house team of claims agents (also known as adjusters). GAINSCO policy holders can report and track claims online 24/7 through their account. There is also the option of calling GAINSCO directly to speak to a claims agent.

In the event you have to file a claim, your claims agent will request the following:

  • Your policy number

  • Your insurance agent’s name (i.e. the agent who sold you the policy)>

  • Date of incident

  • Location of incident

  • Vehicle information

  • People involved

Contact Details

As mentioned, new customers must go through one of the more than 7,000 independent agents authorized to sell policies on behalf of GAINSCO. However, GAINSCO does offer customer service at 866-424-6726 for anyone wanting to speak to a representative, file a claim, or manage their payments. GAINSCO offers bilingual customer service (English and Spanish). Its operating hours are Monday through Friday, 8 AM – 8 PM, Central Time.

Summary

Live in the South or Southwest and looking to buy insurance from an independent agent able to customize a policy to your needs? Then GAINSCO may be just what you need. GAINSCO has more than 7,000 independent agents spread throughout most of the southern and southwestern United States. These agents are well-equipped to advise you on what level of coverage you are legally obligated to buy – and which types of add-ons you might benefit from.

BestMoney Staff
Written by
Bestmoney Staff
Our editorial staff consists of writers who are knowledgeable about financial services. We specialize in simplifying the process of choosing the right provider for your needs.

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