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

Quick Facts

• Based on national averages for auto insurance, Gainsco offers significantly less expensive prices than Metlife
• Gainsco offers more affordable rates for policyholders who drive a short distance to work everyday
• Metlife may help you save more money -- they offer more discounts than GAINSCO

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

So, you're considering switching to 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've maybe even narrowed it down to Gainsco or Metlife as potential options, but between the two, which carrier will offer you more affordable prices?

Looking at the national average rates for both carriers, Gainsco has average rates that are around 40% a month cheaper than those from Metlife.

However, that doesn't mean Gainsco will necessarily be more affordable than Metlife for every driver. Insurance companies use a variety of complex algorithms to determine rates, so depending on where you live or how good your credit score is (among a range of other factors), you could see wildly different premiums from the ones above.

Luckily, we've broken down average prices from both Gainsco and Metlife by a variety of different rate factors, so read on to find out which carrier is the best for you.

Gainsco vs. Metlife: Average Car Insurance Rates by State

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

But there's more to car insurance than just where you live. As we mentioned above, there's a lot of things that go into how insurance carriers calculate your premiums. Continue reading to see how other variables will affect your rates.

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. Typically, that's because teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But still, even with seemingly sky-high premiums, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Gainsco for their auto insurance pay almost 50% less than those who use Metlife.

That being said, both companies will decrease prices once you turn 25. Metlife offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Gainsco still has the cheapest rates at $179 per month.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the lowest car insurance prices you'll ever find. You've been on the road for years, and all that experience pays off when it comes to your monthly premiums for insurance.

But who has the best prices for retired drivers between Gainsco and Metlife? Gainsco gets the edge here, with average premiums coming in at about $158 monthly compared to Metlife's $205.

Which is the Best Company for Married Drivers?

Did you know that auto insurance rates are usually more expensive for those who are single than they are for married couples? That's generally because married drivers tend to own and insure more than one vehicle, which can often earn you a discount.

For single policyholders, the difference in average prices between these two carriers is significant, with Gainsco rates coming in at around half of Metlife's. The advantage for married policyholders with Gainsco is also obvious, where drivers save about $65 a month.

Gainsco or Metlife: Average Rates by Gender

Did you know men tend to pay more for insurance than women? That's because men are more likely to get into collisions and get tickets, which increases the chances of filing a claim with insurance.

Men normally pay around 7% more per month than women with Gainsco, but with Metlife, the difference is closer to 8% a month.

Looking at overall affordability, Gainsco comes out on top for both men and women. On average, male drivers save about $142 per month and women save about $128 with Gainsco compared to the average Metlife policyholder.

Gainsco vs. Metlife: 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, auto insurance can be pretty complicated. There are lots of different coverages that account for a range 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.

Even so, the most common policies that drivers look at fall into two categories -- liability coverage (which provides bodily injury and property damage coverage for other drivers and their passengers if you cause an accident) and full coverage (which includes two additional coverages -- collision and comprehensive -- in addition to what you get with a liability policy).

Looking specifically at state minimum limits for liability insurance, Gainsco has the significant edge, with average monthly premiums coming in at $125. If you want a full coverage policy with the same state minimum limits, Gainsco again has the edge, with policies averaging around $285 a month to Metlife's $466.

Is Gainsco or Metlife 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.

You'll probably end up paying more with speeding tickets and at-fault collisions on your record, but which of these two companies offers the cheapest rates to 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 about 9% after getting a speeding ticket. Metlife policyholders can expect a bit more drastic of an increase of around 21%.

But Gainsco has cheaper prices for drivers in both categories -- their rates are around 16% less expensive for drivers with clean records and 27% more affordable for those with a ticket.

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 Metlife will see about a $150 increase.

At the end of the day, the cheaper prices come from Gainsco, with average premiums coming in at $227 compared to MetLife's $368.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly car insurance bill -- generally a lot more than an accident or ticket. Metlife drivers usually see a 55% increase in their insurance rates after a DUI charge, while Gainsco will typically raise premiums by around 9%.

How does Credit Score Impact Gainsco and Metlife Rates?

Did you know many auto insurance carriers take into account your credit score when determining rates? This isn't true for everyone (for example, Massachusetts and Michigan are two states that ban the practice entirely), but it does affect lots of policyholders out there.

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

So, which company offers the lowest premiums for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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

How much you drive can have a substantial impact on your monthly insurance bill. Usually, those who drive fewer miles will end up with more affordable rates since there's less of a chance of causing a collision 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 prices for Metlife, with policyholders who drive the least paying about $3 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Gainsco is the less expensive carrier.

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

We've already mentioned how your home state can play a role in how much you pay for auto insurance, but the type of area you live in can have a large impact as well. Typically, those who live in urban areas will pay more than drivers in rural areas since there are a lot more cars on the roads where they live.

When comparing these two carriers side-by-side, Gainsco generally comes out as the cheapest option for drivers in every type of area, no matter if it's urban, suburban, or rural.

For policyholders in urban ZIP codes, GAINSCO's average rates are around 23% less than MetLife. People who live in suburban areas pay about 46% less with Gainsco compared to Metlife. Those in rural areas can expect to save around 55% with Gainsco compared to Metlife.

Gainsco vs. Metlife Discounts

No matter why you might be in the market for a new 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.

But with what seems like a million different discounts out there, it can be difficult to nail down the carrier that has the most discounts for your unique driver profile and to find all the discounts you're eligible for.

Luckily, we did the hard work for you and compared all of the different discounts offered by Gainsco and Metlife so that you can see which company can save you the most money each month.

Metlife knocks Gainsco out of the park when it comes to the sheer number of discounts available, offering 32 more discounts than Gainsco.

A couple of those are overlapping for things like discounts for being a homeowner and renewal discounts. Metlife also offers discounts for AAA, ABS, academic, and more.

On the other hand, Gainsco has a few proprietary discounts of their own like advance quote discounts and paid in full discounts.

Final Thoughts: Is Gainsco or Metlife Best for You?

You've seen the effect certain factors have on your insurance and the different discounts companies offer. That's all well and good, but at the end of the day, which company is the right one for you and your specific profile and needs?

Gainsco might be best for you if....

• You have an at-fault collision on your record.
• You already have a great credit score.
• You're married and plan to have both of your names on the vehicle's car insurance policy.

Metlife might be best for you if...

• You value the experience that comes with a large national auto insurance carrier.
• You want to save extra money with discounts.

Hopefully, this guide helps you get a good idea of the differences between Gainsco and Metlife. We also hope we've given you the information you need to make the best decision about your insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on car insurance -- comparing quotes from a handful of carriers, not just Gainsco and Metlife. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of the top auto insurance companies in your area, all in just a few minutes.

Gainsco vs. Metlife FAQs

Is Gainsco or Metlife cheaper?

Gainsco is the cheaper of the two carriers when looking at national average prices, with policies averaging $205 per month with Gainsco and $340 for Metlife. However, that doesn't mean Gainsco will be the most affordable company for each driver, since there are multiple different variables that come into play when it comes to your car insurance cost.

Who is better, Gainsco or Metlife?

Sadly, the only answer we can give you is "it depends.". No single carrier is "better" for every policyholder -- it all comes down to what your unique auto insurance profile looks like.

Why do Gainsco and Metlife offer me different rates?

Insurance companies use quite a few different factors when calculating the rates they charge. Things such as where you live, where your home is, gender, age, and sometimes even things like your credit score can all come into play. Both Gainsco and Metlife calculate premiums using different formulas, 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 carriers.

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

The only way to find the car insurance carrier that's right for you is by getting quotes from several companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code and you'll get quotes from dozens of your local top insurance carriers for free. That way, you can guarantee you're getting the best rate. And maybe you'll find that the best company for you isn't Gainsco or Metlife 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.