GAINSCO Insurance Review & Complaints: Auto Insurance (2023)

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Selling insurance across several Southern states, GAINSCO Insurance focuses on basic coverage in the non-standard insurance market. Their personal insurance policies are designed to get drivers legal at an affordable price even with a blemished record.

What is GAINSCO Insurance?

GAINSCO Insurance was founded in 1978 in Dallas, Texas. Their insurance subsidiary, MGA Insurance Company, Inc. is also based out of Texas. The auto insurance company also has an office in Miami, Florida, where they provide coverage and writes insurance in several other states, including:

• Arizona
• Georgia
• New Mexico
• Oklahoma
• South Carolina
• Tennessee
• Texas
• Virginia

The company focuses on the non-standard auto insurance market, which means their customers are those who would be considered high risk at most insurance companies. This includes drivers who have blemished records, have an international driver’s license, or are simply inexperienced.

The company sells bare-bones liability insurance policies through independent insurance agents across the states they serve. Full coverage is also available. GAINSCO is licensed in almost every state.

GAINSCO is well known for sponsoring a successful auto racing team, Bob Stallings racing.

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Does GAINSCO sell auto insurance?

Auto insurance is the company’s only product, and its emphasis is on basic insurance policies. Their auto insurance policies aim to provide high-risk drivers with the legal minimum required to be on the road, which is often what those in the company’s target market want.

There is little detail available regarding the available coverage, beyond the fact that they offer minimum coverage liability only and full coverage policies. This type of insurance company usually steers clear of gimmicks and add-ons and offers mainly the minimum coverage basics.

The insurer offers auto insurance discounts, although they are not listed on the website. Their policies are designed to be flexible and fit the needs of a high-risk driver who has had difficulty getting coverage elsewhere.

They offer low down payments and flexible payment options to help keep insurance coverage affordable for a market that struggles with high rates.

Are the company’s insurance rates reasonable?

The company promises low prices, but it’s important to remember that low insurance costs in the non-standard market are not the same as what would be considered a low price for a standard or preferred-risk driver.

Since the company does not do business in our usual rate test areas, we are unable to provide a comparison quote. However, insurance costs can be expected to be higher across the board with this company versus a standard insurer because they have to spread the overall costs across a higher risk pool of drivers. A higher risk generally means more claims.

Non-standard auto insurance quotes should always be compared with other non-standard companies for a true apples-to-apples comparison. Most drivers who qualify for standard policies will not find the rates to be competitive, as they are not the target market for these products.

Is Gainsco car insurance a standard company?

No, Gainsco focuses on minimal nonstandard personal auto insurance. They sell full insurance auto products but their main business is minimum-limits non-standard car insurance.

Can I get affordable SR-22 insurance with GAINSCO?

The company specializes in car insurance that meets state requirements in 15 states, and it helps with filing an SR-22 form to prove to your state that you have the insurance required.

Are there any consumer complaints?

Although the company is not accredited on the Better Business Bureau website, they do have a B rating. This rating isn’t ideal for a company on this site. The BBB states the reason for the rating is due to the company failing to respond to a few complaints. The site lists a total of 42 customer service complaints in the past three years, 12 of which have been closed in the last 12 months.

The insurer does have some customer service complaints out there. They seem to be focused on claims service, which is very common for both standard and nonstandard insurers.

Nonstandard insurance companies often see a lot of customer service complaints from drivers who were insured with other companies and involved in an accident with the nonstandard insured. These customer service complaints nearly always involve slow claims service, lack of responses, and even refusal to pay. The reason for this trend with nonstandard insurers is unclear, but it may be partially due to the low coverage limits often carried by nonstandard drivers.

That said, the company really doesn’t have many complaints considering the size of the company. As a relatively large regional insurer, they seem to have a fairly good reputation.

What is the Company’s Financial Strength Rating?

Rating Company	Grade	Financial Outlook
AM Best	B+	Stable
Fitch	N/A	N/A
S&P	N/A	N/A

How Gainsco Auto Insurance Manages Claims

Ease of Filing a Claim

When it comes to filing a claim with Gainsco Auto Insurance, customers have a few options at their disposal. However, it’s important to note that the ease of filing a claim may vary based on the customer’s preferences and the company’s practices. Gainsco provides a toll-free number for claims reporting, which is available in both English and Spanish.

This phone line is accessible during specific business hours, but it’s not open 24/7. The exact business hours for claims reporting can vary by state. One notable aspect is the absence of an online claims reporting option.

Unlike many insurance companies, Gainsco does not offer customers the convenience of reporting claims through an online portal, which may be considered a drawback for those who prefer digital interactions.

Average Claim Processing Time

While specific details about the average claim processing time are not provided in the available information, it’s important to consider that the speed at which claims are processed can impact a customer’s experience significantly. Customers typically expect timely resolutions to their claims, and this aspect can influence their satisfaction with the insurance provider.

Customers considering Gainsco may want to inquire about the typical claim processing times when seeking a quote or evaluating the company’s suitability for their needs.

Customer Feedback on Claim Resolutions and Payouts

Unfortunately, Gainsco Auto Insurance does not provide direct insights into customer feedback regarding claim resolutions and payouts. However, customer feedback is a crucial aspect when evaluating an insurance provider’s reliability and customer service quality.

Prospective customers are encouraged to research online reviews and seek feedback from current or former Gainsco policyholders to gain a better understanding of the company’s track record in handling claims. Gathering firsthand experiences and opinions can help individuals make informed decisions about their insurance choices.

Digital and Technological Features of Gainsco Auto Insurance

Mobile App Features and Functionality

Gainsco Auto Insurance offers a mobile app to enhance the customer experience and provide convenient access to policy-related information. Mobile apps in the insurance industry typically offer features such as policy management, claims reporting, digital ID cards, and billing management.

Prospective customers interested in utilizing the mobile app should consider reaching out to Gainsco directly or visiting their official website for detailed information on app features and functionality.

Online Account Management Capabilities

Gainsco recognizes the importance of online account management for policyholders. Online account management typically includes features like policy viewing, bill payment, document access, and claims tracking.

To fully understand the capabilities of Gainsco’s online account management system, individuals are advised to explore the company’s official website or contact their customer support for comprehensive information.

Digital Tools and Resources

It’s common for insurance providers to provide policyholders with a range of digital resources to assist them in their insurance journey. Digital tools may include insurance calculators, educational materials, coverage guides, and frequently asked questions (FAQs). These resources can help customers make informed decisions about their insurance coverage and better understand their policy.

Prospective customers interested in accessing digital tools and resources should visit GAINSCO’s official website or reach out to the company directly to explore the available digital assets.

GAINSCO Insurance Review & Complaints: What’s the bottom line?

This insurer isn’t recommended for anyone who qualifies for standard insurance, however, for the nonstandard market in the company’s coverage states, they are well worth considering. Reviews indicate their rates are competitive, and while we never recommend taking out legal minimum policies, for those on a tight budget and facing nonstandard rates, GAINSCO is probably a good choice.

The company does need some improvement in one major area – claims. We’d like to see 24-hour customer service at the very least, if not online filing.

GAINSCO does not have good customer service for the auto insurance market as a whole, but it has good customer service for its specific market of high-risk drivers.

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