GAINSCO Auto Insurance ReviewSunday, 15 December 2013 18:06
GAINSCO is a regional auto insurance company that offers various liability and full coverage options to high risk and standard drivers who have difficulties getting insured. The company is known for being a Daytona racing sponsor, but there is limited information available about its products, discounts and customer service. It offers auto insurance in eight state markets through an agent based marketing system, and any detailed information about the company’s insurance products has to be acquired through agents. It has received good ratings from A.M. Best for its financial outlook, but the lack of information about its insurance products and services makes it hard to recommend the company for non-standard auto insurance.
Company Background Information
GAINSCO is a property and casualty insurance company that was founded in 1978 by Joseph Macchia and is headquartered in Dallas, Texas. The company’s insurance business operations are conducted through MGA Insurance Company, Inc. which is incorporated in Texas. The company is known locally for sponsoring GAINSCO/Bob Stallings Racing and for sponsoring the development of the No. 99 GAINSCO Daytona prototype that won the 2007 and 2009 Grand-Am Rolex Sports Car Series Championships. The racing team is the focus of the corporate brand and identity and a central rallying point for the company.
GAINSCO currently sells auto insurance in eight state markets and sells its insurance through a network of thousands of agents. It received a recent “B+” (Good) A.M. Best rating which is lower than many other insurance companies but still considered to be good. The company sells auto insurance to the high risk market who may have difficulties getting insurance at affordable rates.
Pros of GAINSCO Auto Insurance
- May offer some affordable coverage options for non-standard drivers
Cons of GAINSCO Auto Insurance
- Average financial stability ratings
- Only available in eight states
- Limited information about discounts and insurance products
GAINSCO does not make a mention of its discounts on the corporate website. Customers would need to call an agent to find out about the discounts that they might be eligible for.
Types of Insurance Offered
GAINSCO offers liability coverage options and other coverage to non-standard drivers who may have a poor driving record, difficulties getting insurance, and other issues that prevent them from getting good rates or coverage from other auto insurance companies. The company does not make mention of the specific types of insurance that it offers in its eight state markets but it does mention that it offers low down payment options, state minimum liability coverage and full coverage, flexible coverage options, and flexible payment plans. Interested customers have to speak to an agent to find out more information about the specific coverage options that might be available to them.
The GAINSCO features only basic details about the company’s insurance product offerings and discounts. Interested customers can find an agent through the agent locator. Current customers can find information on how to report a claim by phone, but cannot actually report a claim from the website. They can also make a payment on their policy through the website. In spite of the lack of features it is a well-designed website with an easy to navigate layout.
Customer reviews of GAINSCO are difficult to find, most likely due to the company’s smaller size.
Those who may have difficulties getting insured due to a poor driving history or other reasons might consider getting a quote from GAINSCO, but the lack of customer reviews make it difficult to determine whether or not it is a good choice for a non-standard auto insurance policy. You can also get rates from other high risk auto insurance companies by entering your zip code on this page.
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|AM Best Score||B+|
|JD Power Rating||N/A|
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