Gainsco vs. GEICO: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for auto insurance, GEICO offers slightly cheaper rates than Gainsco
• Gainsco tends to be a much more affordable option for drivers with a DUI
• GEICO offers more affordable prices for policyholders who have a clean driving record, free of collisions, tickets, or DUIs

Gainsco or GEICO: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? After all, you've seen ads from all sorts of companies offering big savings. But exactly how much can you save by switching?

You might have narrowed it down to Gainsco or GEICO as potential options, but between the two, which carrier will save you the most?

Looking at nationwide averages, Gainsco is around $20 more a month than GEICO.

However, that doesn't mean GEICO will necessarily be less expensive than Gainsco for each driver. Car insurance carriers vary their rates depending on things like where you live, how clean your driving record is, how good your credit score is, how old you are, and all sorts of other factors, so prices could vary drastically from person to person.

Luckily, we've broken down average premiums from both Gainsco and GEICO by lots of different rate factors, so read on to find out which company is the best for you.

Gainsco vs. GEICO: Average Car Insurance Rates by State

Gainsco and GEICO only compete against each other in Arizona, where GEICO offers the cheaper average prices. GEICO drivers tend to pay about $74 per month less on average compared to drivers who use Gainsco for their auto insurance.

That being said, there are plenty of other factors that go into your insurance bill than just the state you live in. Read on to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive car insurance rates of any group out there on the road. That's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

But that doesn't mean teen drivers can't still save money on their auto insurance. As you can see above, teens who use GEICO save over 20% a month compared to those who use Gainsco.

Even so, both companies will offer you dramatically lower premiums by the time you turn 25. For example, average rates for Gainsco policyholders lower about $300 and GEICO's prices drop around $200 over that time.

Which is the Best Company for Retired Drivers?

When it comes to insurance, patience and experience pay off, with drivers around retirement age paying some of the lowest premiums you'll ever find.

When looking at Gainsco and GEICO specifically, which carrier is best for retired drivers? GEICO gets the slight edge here, with average rates coming in at about $148 per month compared to Gainsco's $158.

Which is the Best Company for Married Drivers?

Single drivers tend to get offered slightly more expensive auto insurance premiums than married couples. This usually boils down to married drivers having more than one vehicle on their policy -- something lots of car insurance carriers will reward with discounts.

For those who are single, the difference in average prices between these two companies is significant, with GEICO rates coming in at around 15% less than Gainsco's. But for married policyholders, that advantage is much less clear - Gainsco offers the cheapest average premiums , but the difference is less than $5.

Gainsco or GEICO: Average Rates by Gender

Because women are less likely to get into accidents and get speeding tickets, they have a lower chance of filing a claim with insurance. So, insurance carriers will tend to offer women more affordable prices.

Usually, women see premiums about 7% per month less with Gainsco, but with GEICO, the difference is closer to 4% a month.

When it comes to the most affordable rates for each gender, GEICO offers the cheapest average prices for both men and women. On average, male drivers save about $23 per month and women save around $17 with GEICO compared to the average Gainsco policyholder.

Gainsco vs. GEICO: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

For most people, insurance can be pretty complicated. There are a variety of different coverages that account for a bunch of different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

That being said, most policies that drivers look at fall into two categories -- liability coverage (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to liability).

Looking specifically at state minimum liability insurance, GEICO has the edge, with average monthly rates coming in at $101. If you want a full coverage policy with the same state minimum limits, GEICO again has the edge, with policies averaging about $269 a month to Gainsco's $285.

Is Gainsco or GEICO Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their car insurance. But that's not to say you can't save money if you don't have the best driving record, either.

It's no secret secret that speeding tickets and at-fault accidents lead to higher premiums, but which company -- Gainsco or GEICO -- has the most affordable prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Gainsco for their auto insurance can usually expect their monthly bill to go up around 9% after getting a speeding ticket. GEICO policyholders can expect a bit more drastic of an increase of about 23%.

But GEICO tends to offer the best prices for both drivers who have clean records and those with a recent ticket, offering rates that are 38% and 26% more affordable, respectively, compared to GAINSCO.

Which Company is Best for Drivers After an Accident?

Gainsco drivers who get in a collision can expect to see their premiums increase by over $40, while those who have insurance through GEICO will see around a $85 increase.

At the end of the day, drivers who use GEICO end up with the cheaper prices after an accident, with average prices coming in at $200 compared to GAINSCO's $227.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or speeding ticket when it comes to your insurance bill. For example, GEICO increases average premiums by more than $150 per month -- that's nearly a 60% increase.

How does Credit Score Impact Gainsco and GEICO Rates?

You may not realized it, but your credit score can come into play when companies determine your monthly bill. This isn't true for everyone (Massachusetts, for example, has banned the use of credit score as a car insurance factor) but it does affect many policyholders out there.

The reasoning car insurance carriers use is that drivers with bad credit will be less likely to pay their bills on time; so typically, they'll be asked to pay more, while those with good credit will be rewarded with cheaper rates.

So, which carrier offers the lowest prices for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Gainsco or GEICO Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in your monthly auto insurance payment. Normally, those who drive less will end up with less expensive premiums since there's less of a chance of causing an accident and filing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Gainsco charges. However, there's a small difference in monthly rates for GEICO, with drivers who put 6,000 miles on their vehicle yearly paying about $8 less every month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, GEICO is the cheaper company.

Gainsco or GEICO: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can play a substantial role in how much you pay for insurance. Generally, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders since there are a lot more cars on the roads where they live.

When comparing these two companies side-by-side, Gainsco boasts the most affordable average prices in rural and suburban areas, while GEICO wins in urban areas.

For drivers in urban ZIP codes, GEICO's average premiums are around 29% less than GAINSCO. People who live in suburban areas pay about 3% less with Gainsco compared to GEICO. Those in rural areas can expect to save around 14% with Gainsco compared to GEICO.

Gainsco vs. GEICO Discounts

No matter why you might be in the market for a new auto insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by utilizing as many car insurance discounts as possible.

The difficult part is finding all of the discounts you're eligible for, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Gainsco and GEICO so that you can find the company that has the most discounts and, therefore, the largest savings.

GEICO blows Gainsco away when it comes to the sheer amount of discounts available, offering 24 more discounts than Gainsco.

There are a couple discounts both carriers offer, but GEICO also offers discounts for ABS, anti-theft, commercial drivers license, and more.

On the other hand, Gainsco has a few proprietary discounts of their own for things like advance quote discounts, homeowner discounts, and renewal discounts.

Final Thoughts: Is Gainsco or GEICO Best for You?

So, you've seen how different variables can affect your insurance rates. We've broken down the different discounts each company offers, too. That's all well and good, but when it comes down to it, which carrier is the right one for you and your specific driver profile?

GEICO might be best for you if....

• You will be the only person on the auto insurance policy.
• Your driving record contains an at-fault accident.
• You live in an urban area.

Gainsco might be best for you if...

• Your neighborhood is in the suburbs.
• You live in a rural neighborhood.
• You are purchasing your car insurance with a spouse.

Hopefully, this guide has ben a valuable resource as you compare Gainsco and GEICO. We also hope we've given you the information you need to make the best decision when it comes to your insurance.

At the end of the day, the best way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several companies, not just Gainsco and GEICO. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of the top car insurance carriers in your area, all in just a few minutes.

Gainsco vs. GEICO FAQs

Is Gainsco or GEICO cheaper?

GEICO is the more affordable of the two companies when looking at national average prices, with policies averaging $185 a month with GEICO and $205 for Gainsco. That being said, that doesn't mean GEICO will be the cheapest company for each driver, since there are a range of different factors (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Gainsco or GEICO?

Sadly, the only answer we can give you is "it depends.". One carrier is not "better" for everyone -- it all comes down to what your unique insurance profile looks like. For example, GEICO is less expensive for drivers with excellent credit, while Gainsco offers cheaper rates for drivers with a recent DUI.

Why do Gainsco and GEICO offer me different rates?

Car insurance carriers use quite a few different variables when determining the prices they charge. Factors such as where you call home, gender, where you park your vehicle, age, and sometimes even things like your credit score can all come into play. Both Gainsco and GEICO calculate premiums using different variables, so it's likely they'll offer different prices. The best way to determine which company is the lowest for you is by comparing personalized quotes from many different companies.

How do I know if Gainsco or GEICO is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from a handful of carriers and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top auto insurance companies for free. That way, you can guarantee you're getting the cheapest premium. And maybe you'll find that the best company for you isn't Gainsco or GEICO at all, but another you hadn't even thought of!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.