GAINSCO Insurance Review

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Products  |  Price  |  Claims  |  Complaints  |  Financials  |  Bottom Line

GAINSCO Insurance Summary

GAINSCO Insurance was founded in 1978 and sells auto coverage over a network of independent agents throughout the Sunbelt. The company is headquartered in Dallas, Texas, and services eight states: Texas, Virginia, South Carolina, New Mexico, Oklahoma, Florida, Georgia and Arizona. It is licensed to operate in 44 states, so future growth may be on the horizon.

GAINSCO specializes in offering low-cost auto insurance. To do this, it primarily sells policies that meet minimum state limits. This makes it an appealing option for drivers looking to quickly fill out an SR-22. It does sell full-coverage auto policies as well, but its primary specialization is non-standard, low-minimum insurance.

The company is also a primary sponsor of Bob Stallings auto racing; it uses this sponsorship to promote its brand, and racing images are incorporated into the company’s logo and website.

Because the company sells its products through independent agents, customers must contact an agency for a price quote or to purchase insurance. Quotes and policy information are not available online.

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Insurance Products

Auto Insurance

GAINSCO specializes in non-standard auto insurance. Most specifically, it caters to drivers who wish to pay the lowest possible premiums by purchasing minimum-limits auto coverage. Every state has its own legally required minimum liability limits, and an agent will work with the individual driver to create a policy that meets these levels.

A minimum-limit auto insurance policy generally covers liability alone. This includes property damage liability, which pays for damages to other people’s vehicles and property after an auto accident, and bodily injury liability, which covers medical expenses of others who are injured in an accident you cause.

Full coverage auto insurance, which pays for your own vehicle’s repairs, is also available through GAINSCO. However, the rates may not be as competitive as those from standard insurance companies.

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Companies that specialize in high-risk insurance rarely have competitive rates when it comes to standard policies. Anyone in the market for high-risk coverage is invited to contact GAINSCO for a personalized quote, but those with a good driving record should be sure and rate shop a few companies before settling on a policy. Every company uses their own underwriting guidelines when determining prices.


Auto accident claims are handled through a central customer service line, which can be reached at 1-866-GAINSCO (1-866-424-6726). The claims office is open from 7:00am to 7:00pm Central time in most states, but claims in Florida, Georgia, South Carolina and Virginia must be filed before 6:00pm. The claims office is open Monday through Friday.

According to their website, GAINSCO does not offer 24/7 claims filing, which is very unusual for an insurance company. An accident that occurs in the middle of the night cannot be reported until the following day, or a loss over a weekend must wait until the following week to process.

When calling to file a claim, be sure to have both your policy number and agent’s name available to expedite the process. Once the claim has been input into the system, you will be assigned a claim number and provided with adjuster information. This adjuster will serve as your point of contact throughout the claims process.

There is no online reporting function on the GAINSCO website. You can, however, contact your agent to discuss your policy and any questions you may have about the claims process.

Consumer Research and Complaints

GAINSCO is not BBB accredited. It does, however, have an A+ rating on the BBB website. The site lists 22 complaints within the past three years, of which three having been closed in the previous 12 months. The majority have been issues with the product or service.

One recent complaint listed on the site describes a billing issue with premiums being charged for a vehicle that had been removed from the policy. Details for other complaints are not currently available on the site.

Financial Strength

Rating CompanyGradeFinancial Outlook
AM BestB+ (MGA)Positive

Bottom Line

GAINSCO does not offer 24/7 claims filing, which is not usual in the insurance industry. They have a low financial strength rating from AM Best (through their company MGA Insurance). They do, however, have a good rating from the BBB.

GAINSCO should be considered by those looking for state-minimum insurance or SR-22 coverage. We highly recommend more than state-minimums, but understand that not everyone can afford it.

For a list of companies that we recommend, visit our Best Insurance Companies page.

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  1. Thomas Owen says

    If you want to be able to hit people while driving and not be found at fault, this is the insurance company for you, all you have to do is lie to them, they’ll even ignore the police report of the accident so they don’t have to pay on a claim.

  2. Norman Gibson says

    Was a passenger in a car that was insured by this company. Its been 7 weeks and ive only heard from them once..Have left over 20 messages or more but they never return calls or are putting any effort into settling my claim… Worst insurance company ive ever had to deal with..Rate them on a scale from 0 to 10, I would rate them a minus 10 (-10). Wouldn’t recommend them to anyone…..

  3. willie Cunningham says

    Its been almost an entire month since my vehicle has been stolen and recovered. I havent heard an offers on my replacement check for the full coverage I’ve been paying each month. Only that Gainso has decided to further investigate the minor arson damage on my vehicle before they pay me back for my loss. They don’t even care that I’m a disabled veteran or a college student who really needs access to a vehicle at all time.

    • Norman Gibson says

      I know what u mean .I was in an accident with a policy holder of there’s. .It has been over 6 weeks since the accident and they are refusing to pay my hospital bills or compensate me for lost time at work and other damages…The policy holder has been without a car since the wreck and they dont care if he has transportation or not. He has exalted all his funds so he cannot continue to pay for rental..He has kids that have no transportation because the insurance company is holding up the claim some investigation crap also…Would not recommend this insurance company to anyone….scale from 1 to 10, they receive a MINUS 10 (-10) That Bad

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