Is Gainsco Auto Insurance Good?
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There are so many options when it comes to choosing a car insurance policy, and it can be difficult to determine which one is the best for your needs. Gainsco is a car insurance company with a network of independent agents based in eight states. They focus on affordable policies that are designed to meet the basic liability coverage requirements. There are plenty of factors to consider when shopping for insurance – here’s what you need to know about Gainsco.
Gainsco is based in Dallas and has been in business since 1981. They also have a regional office in Miami, and they are licensed to provide insurance in 44 states as well as the District of Columbia. They have independent agents based in Arizona, Florida, Georgia, New Mexico, Oklahoma, South Carolina, Texas, and Virginia. To purchase an insurance policy, customers need to connect with these independent insurance agents. Gainsco’s staff are bilingual and they are able to provide service and policies in both English and Spanish. Gainsco is a subsidiary of MGA Insurance Company, which is also based in Dallas.
What Types of Policies Does Gainsco Offer?
Gainsco specializes in minimum limit policies. These policies only cover the minimum amount of car insurance required by law in your state. Requirements vary from state to state, but generally, drivers are required to have a certain amount of liability insurance. Liability insurance pays for the costs of an accident if you are found at fault. Some states also require you to have personal injury protection coverage or coverage for uninsured drivers. While Gainsco does offer more additional coverage, minimum limit policies are their specialty.
Drivers should be very cautious with purchasing minimum limit policies. These policies are designed to be as affordable as possible, but they don’t offer much coverage. If you get into an accident and the damages exceed your policy’s limit, you will be held liable to pay the damages yourself. These policies also don’t offer comprehensive or collision coverage, so you’ll likely end up having to pay for your own repairs if you get into any kind of accident. You also won’t be covered for things like vandalism or weather damage.
Gainsco also has a focus on non-standard insurance policies. These policies are for drivers who are considered high risk due to their driving history. This includes drivers with DUIs and at-fault accidents or drivers who require SR-22s.
Gainsco Customer Service
Gainsco receives extremely poor reviews for their customer service. They get a very high volume of complaints, most of which are centered around long processing times for claims. Many people also complain that it can be very difficult to get their representatives on the phone when they need them. Their website also doesn’t provide much information, so it’s difficult to learn about the types of insurance policies they offer.
Gainsco customers can make payments on their website or by phone. They can also begin the claims process online, although it does require a follow-up by phone. You can get a quote online from Gainsco by entering your ZIP code on their website. You will then get a follow-up call from an agent later on. Gainsco has a B+ rating from AM Best, an agency that rates the financial strength of insurers and other financial organizations. This score is good, but it isn’t as high as those of many larger, more trustworthy insurers.
Benefits of Using Gainsco Auto Insurance
There aren’t many benefits to using Gainsco auto insurance, as they have poor customer service ratings and their policies aren’t particularly comprehensive. Some customers prefer to work with an insurance agent they trust and develop a relationship with them. If you are one of these people and have a reliable Gainsco agent in your area, you may want to consider their coverage options. They also offer service in both English and Spanish, which is very helpful for bilingual customers. If you can only afford the bare minimum for your insurance requirements, then you may be able to find a cheap policy with Gainsco. However, it’s worth shopping around before committing. If you have a clean driving record, you may be able to get more bang for your buck with a larger, more comprehensive insurer. Gainsco can also be a good option for those who require non-standard insurance and are having trouble finding coverage elsewhere. However, there are many other non-standard auto insurance providers that have better complaint records.
Disadvantages of Using Gainsco Auto Insurance
Unfortunately, there are several potential disadvantages of using Gainsco as your auto insurance provider. These include:
- Gainsco has a very high complaint rate. They have a reputation for taking a very long time to pay out their insurance claims. Many people also complain about not being able to get a representative on the phone when they need one. If you get into an accident, you may have a difficult time getting the money you need in a timely manner, which can be very stressful and may cause issues with the other party involved in the accident.
- Gainsco does not offer comprehensive car insurance policies. Most of their policies only provide the minimum amount of insurance required by your state. Although their policies are affordable, they may not cover you completely in the event of a serious accident. They don’t offer the add-ons that you might want from your insurer to protect you out on the road, like roadside assistance.
- Gainsco’s website is not comprehensive. Although you can pay your bills and file claims online, they don’t have much information available about their policy offerings. To get a policy set up with Gainsco, you will need to work directly with one of their agents. This can be very inconvenient for those who are very busy or who just prefer to handle their insurance online.
- Gainsco only has offices in eight states. You can purchase policies in other states, but you will only be able to work with your agent over the phone. This can be frustrating for those who prefer to develop a strong relationship with their insurance agent, or just want to be able to go in and talk in person.
Gainsco is a potentially viable insurance option for those who are on a budget and need very minimal car insurance. However, their reputation for poor customer service and bare-bones policies means that they don’t offer much value for the money you’re paying. Before committing to using Gainsco for your car insurance, it’s worthwhile to shop around for other options.