Is GAINSCO Auto Insurance Good?

Last Updated on May 6, 2023

There are so many options when choosing a car insurance policy, and it can be challenging to determine which is best for your needs. GAINSCO is a car insurance company with a network of independent agents. They sell auto insurance in 18 states. They focus on affordable policies 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.

Key Takeaways:

  1. GAINSCO is a car insurance company specializing in affordable policies that meet basic liability coverage requirements.
  2. GAINSCO’s policies focus on minimum limit policies, which may not offer enough coverage and might leave drivers financially responsible for damages exceeding policy limits.
  3. GAINSCO has a poor customer service reputation, with long claims processing times and difficulty reaching representatives.
  4. GAINSCO may be a good option for drivers requiring non-standard insurance policies, but other non-standard auto insurance providers have better complaint records.
  5. Insurance Panda rates GAINSCO 2.5/5

GAINSCO Overview

GAINSCO is based in Dallas and has been in business since 1981. They also have a regional office in Miami and smaller offices nationwide. GAINSCO is currently available in these states: Alabama, Arizona, Arkansas, Florida, Georgia, Illinois, Indiana, Mississippi, Missouri, New Mexico, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Virginia, and Wisconsin.

Customers must contact an independent insurance agent to purchase a GAINSCO insurance policy. GAINSCO’s staff are bilingual and can provide services and policies in English and Spanish.

GAINSCO is a subsidiary of MGA Insurance Company, also based in Dallas. It was purchased by State Farm in 2020.

What Types of Policies Does GAINSCO Offer?

GAINSCO specializes in minimum-limit policies. These policies only cover the minimum car insurance required by law in your state. Requirements vary from state to state, but generally, drivers must 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 offers 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 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 have to pay for your own repairs if you get into an 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.

What Car Insurance Discounts Does GAINSCO Offer?

GAINSCO offers a few discounts to its auto insurance customers, such as:

  • Advance shopping discount: Customers covered 3-30 days before their policy start date can qualify for reduced premiums.
  • Pay-in-full discount: Customers who pay for their auto insurance policy premium upfront may save on their policy.
  • Autopay discount: Customers who enroll in automatic payments may get a lower premium.
  • Prior coverage discount: Customers with at least six months of full coverage auto insurance, with a maximum 30-day lapse, may be eligible for a discount.
  • Homeowners discount: Customers who own a home, condo, townhouse, or mobile home may get a homeowners discount.
  • Multi-car discount: Customers who insure more than one vehicle with GAINSCO may save money on their policy.

The availability and amount of these discounts may vary by state and eligibility criteria.

GAINSCO Customer Service

GAINSCO receives extremely poor reviews for its customer service. They get a very high volume of complaints, most centered around long processing times for claims. Many people also complain that getting their representatives on the phone can be very difficult when they need them. Their website also doesn’t provide much information, so it’s challenging 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 requires a phone follow-up. 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 Company Ratings

GAINSCO has an A- 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. On the other hand, GAINSCO has a higher-than-expected number of complaints reported by the NAIC based on its size.

Overview of GAINSCO company ratings:

AM Best Financial Strength RatingA-
Better Business Bureau RatingA+
NAIC Complaint Index2.34 (far more than expected)
J.D. PowerN/A

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 don’t cover enough.

  • Work With an Agent – 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.
  • Bilingual Customer Service – GAINSCO offers service in both English and Spanish, which is very helpful for bilingual customers.
  • Bare Minimum Policies – If you can only afford the bare minimum for your insurance requirements, then you may be able to find a cheap policy with GAINSCO.
  • Affordable Rates – Because GAINSCO offers mainly minimum coverage policies lacking in coverage, it can maintain lower-than-average premiums.
  • SR-22/FR-44 Available – If you need an SR-22 or FR-44 form submitted with your state because you are a high-risk driver, GAINSCO can help.

Disadvantages of Using GAINSCO Auto Insurance

Unfortunately, there are several potential disadvantages to using GAINSCO as your auto insurance provider. These include:

  • Very High Complaint Rate – GAINSCO is known for taking a long time to pay its 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 difficulty getting the money you need on time, which can be very stressful and cause issues with the other party involved.
  • Policies Are Too Minimal – Most of their policies only provide the minimum amount of insurance your state requires. Although their policies are affordable, they may not cover you completely in the event of a severe accident. GAINCO’s coverage options are lacking, and product lines are sparse. They don’t offer the add-ons that you might want from your insurer to protect you out on the road, like roadside assistance.
  • Unhelpful Website – Although you can pay your bills and file claims online, they don’t have much information 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 inconvenient for those who are very busy or just prefer to handle their insurance online. The website also doesn’t accept electronic payments.
  • Coverage Area Lacking – GAINSCO only sells auto insurance in Alabama, Arizona, Arkansas, Florida, Georgia, Illinois, Indiana, Mississippi, Missouri, New Mexico, Ohio, Oklahoma, South Carolina, Tennessee, Texas, Utah, Virginia, and Wisconsin. You can purchase policies in other states but can only 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 want to be able to go in and talk in person.

Frequently Asked Questions About GAINSCO

Our Rating of GAINSCO

GAINSCO is a car insurance company with a network of independent agents, providing affordable policies to meet the basic liability coverage requirements. They specialize in minimum-limit policies, which may leave drivers financially responsible for damages exceeding policy limits. GAINSCO has a poor customer service reputation, with long claims processing times and difficulty reaching representatives.

Customer Service
Claims Processing
Financial Strength
Coverage Offerings


GAINSCO holds an A- rating from AM Best and has an NAIC complaint index of 1.57, but their policies are minimal, and customer service ratings are poor. They offer bilingual customer service and affordable rates for bare minimum policies, but their coverage options and product lines are limited. GAINSCO’s disadvantages include a very high complaint rate, minimal policies, an unhelpful website, and a coverage area that lacks compared to larger insurance providers.


Final Word on GAINSCO

GAINSCO is a potentially viable insurance option for those on a budget who need minimal car insurance. However, their reputation for poor customer service and bare-bones policies means they don’t offer much value for your money.

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 requiring non-standard insurance and having trouble finding coverage elsewhere. That being said, many other non-standard auto insurance providers have better complaint records.

Before using GAINSCO for your car insurance, shopping for other options is worthwhile.

GAINSCO Company Info
Company Address3333 Lee Parkway
Suite 1200
Dallas, TX 75219
Phone Number(866) GAINSCO
Website URL
HoursMonday – Friday, 9am – 6pm Central Time
James Shaffer
James Shaffer James Shaffer is a writer for and a well-seasoned auto insurance industry veteran. He has a deep knowledge of insurance rules and regulations and is passionate about helping drivers save money on auto insurance. He is responsible for researching and writing about anything auto insurance-related. He holds a bachelor's degree from Bentley University and his work has been quoted by NBC News, CNN, and The Washington Post.
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