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

Quick Facts

• In general, Nationwide offers cheaper premiums than Gainsco
• Gainsco tends to be a much less expensive option for drivers with a DUI charge on their record
• Nationwide has cheaper prices for residents of urban areas

Gainsco vs. Nationwide: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering big discounts, you're probably wondering exactly how much you might be able to save.

You might have narrowed your search down to Gainsco or Nationwide, but between the two, which one will save you the most?

As you can see, Nationwide is about $35 per month more affordable than Gainsco when looking at the national average rates for auto insurance.

However, that doesn't necessarily mean Nationwide will be the less expensive option for every driver. Car insurance companies vary their rates depending on things like how old you are, how clean your driving record is, how good your credit score is, where you live, and a ton of other factors, so premiums will vary quite a bit from person to person.

Wanting to know if Gainsco or Nationwide is really the right carrier for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

Gainsco or Nationwide: Average Car Insurance Rates by State

Gainsco and Nationwide only compete against each other in Arizona, where Nationwide offers the cheaper average premiums. For Arizona residents, Nationwide offers auto insurance for $170 per month on average. Gainsco's average prices come out to be over 20% more expensive, at $205 a month.

But there's more to calculating car insurance rates than just the state you live in. Keep reading to find out more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance prices of any group on the road. That's normally because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

That being said, that doesn't mean teen drivers can't still save money on their auto insurance. Just look at the table above -- where 18-year-old drivers who have Nationwide for their car insurance pay $80 less than those who use Gainsco.

Even so, with both carriers, you'll see your rates decrease significantly once you turn 25. Nationwide offers the steepest drop, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Gainsco's average premiums lower more than 60% during that same period.

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 cheapest rates you'll ever see.

But who has the best premiums for retired drivers between Gainsco and Nationwide? Nationwide gets the edge, with prices for drivers 65 and older $33 cheaper than the national average for Gainsco.

Which is the Best Company for Married Drivers?

Did you know that car insurance rates are typically more expensive for single drivers than they are for married couples? That's because policies for married policyholders generally cover multiple cars, which lots of companies will offer you a discount for.

When it comes to relationship status, Nationwide is the clear winner for those who are single, with premiums around $43 a month more affordable than Gainsco, on average. The advantage for married drivers with Nationwide is also obvious, where drivers save over 15% per month.

Gainsco vs. Nationwide: Average Rates by Gender

Men are statistically more likely than women to get into an accident or get pulled over for speeding. That means when it comes to auto insurance men will usually end up paying a little more.

With Gainsco, men typically pay about 7% more a month than women., while with Nationwide, the difference is closer to 7% per month.

Looking at the data for each company specifically, Nationwide offers the lowest average prices for both men and women. On average, male drivers save about $36 a month and women save around $34 with Nationwide compared to the average Gainsco policyholder.

Gainsco or Nationwide: 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.

It's no secret that insurance can be a complicated subject for most people. There are so many different terms and limits that it can make it pretty confusing to find the right policy.

But most policies that many drivers look at fall into two categories -- liability only (which provides bodily injury and property damage coverage for other drivers if you cause a collision) and full coverage (which normally refers to having comprehensive and collision coverages alongside what you get with a liability policy).

If you're looking for state minimum liability limits, Nationwide generally offers less expensive rates of $112 compared to Gainsco's $125. When it comes to full coverage policies with similar limits, Nationwide again has the edge, with policies about $55 per month more affordable than Gainsco, on average.

Is Gainsco or Nationwide Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance carriers offering great prices for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

It's no secret secret that tickets and accidents lead to higher premiums, but which carrier -- Gainsco or Nationwide -- has the most affordable prices for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Gainsco policyholders can expect their premiums to go up an average of $18 a month if they get a ticket, while Nationwide usually raises rates around $24 per month, on average.

However, Nationwide tends to offer the best prices for drivers both with clean records and with a speeding ticket, offering prices that are $60 and $54 less expensive, respectively, compared to GAINSCO.

Which Company is Best for Drivers After an Accident?

Gainsco drivers who get in an accident can expect to see their premiums increase by over $40, while those who have insurance through Nationwide will see about a $55 increase.

Overall, drivers who use Nationwide end up with the cheaper prices after an accident, with monthly rates averaging $178 compared to GAINSCO's $227.

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 auto insurance bill -- generally a lot more than a collision or ticket. For example, Nationwide increases average premiums by over $100 a month -- that's over a 45% increase.

How does Credit Score Impact Gainsco and Nationwide Rates?

Did you know that many insurance companies take your credit score into account when calculating rates? Certain states and carriers do not allow for credit score to be used as a rating factor, but it does affect many policyholders out there.

The reasoning auto insurance companies 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 prices.

Looking specifically at Nationwide and Gainsco, which carrier has the best premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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

Did you know that the amount of time you spend in your car have a substantial impact on your monthly insurance bill? Normally, the more miles you drive, the more you can expect to pay for car insurance.

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 Nationwide, with drivers who put 6,000 miles on their vehicle each year paying around $1 less every month compared to those who drive 12,000 miles annually. Still, Nationwide is the less expensive option for drivers in both categories.

Gainsco vs. Nationwide: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a pretty big role in how much you pay for insurance. Usually, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders because there are a lot fewer cars on the road in those areas, which decreases the chances of an accident.

When comparing these two carriers side-by-side, Nationwide boasts the cheapest average prices in urban and suburban areas, while Gainsco wins in rural areas.

In urban areas, Nationwide's average rates are about 33% less than GAINSCO. Drivers in suburban ZIP codes pay around 12% less with Nationwide compared to Gainsco. If you live in a rural area, you can expect to save about 10% with Gainsco compared to Nationwide.

Gainsco vs. Nationwide Discounts

Regardless of why you might be in the market for a new car insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by taking advantage of as many auto insurance discounts as you can.

But with what seems like a million different discounts out there, it can be hard to find all the ones you qualify for or to nail down the company that has the most discounts for your unique driver profile.

In the table below, we've compared all of the different discounts offered by Gainsco and Nationwide so that you can find the company that has the most discounts and, therefore, the biggest savings.

Nationwide blows Gainsco away when it comes to the sheer amount of discounts available, offering 22 different discounts to Gainsco's four.

A couple of those are overlapping for things like advance quote discounts and discounts for being a homeowner. Nationwide also offers agency transfer discounts, anti-theft discounts, defensive driver discounts, and more that Gainsco does not.

On the flip side, Gainsco has a couple unique discounts of its own -- paid in full discounts and renewal discounts.

Final Thoughts: Is Gainsco or Nationwide Best for You?

You've seen the effect certain factors have on your car insurance and the different discounts companies offer. That's all well and good, but at the end of the day, which carrier is the best one for you, your vehicle, and your wallet?

Nationwide might be best for you if....

• You want to save money on your auto insurance after an accident.
• Your credit score is high.
• You're buying insurance for a teen and looking for a wallet-friendly option.

Gainsco might be best for you if...

• You have a DUI charge on your record.
• You live in a rural area.

We hope this guide helps you get a good idea of the differences between Gainsco and Nationwide and that it aids in making a more informed decision about your car 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 multiple carriers, not just Gainsco and Nationwide. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get multiple free quotes from some of the best insurance companies in your area, all in just a few minutes.

Gainsco vs. Nationwide FAQs

Is Gainsco or Nationwide cheaper?

Looking just at the national average premiums, Nationwide is the cheaper of the two carriers, offering average rates of $170 per month compared to $205 for Gainsco. That being said, Nationwide won't necessarily be the most affordable company for each policyholder, since there are several different variables that come into play when it comes to your car insurance payment.

Who is better, Gainsco or Nationwide?

Unfortunately, the only answer we can give you is "it depends.". Neither carrier is necessarily "better" for every driver -- it all depends on the makeup of your unique insurance profile. For example, Nationwide offers more affordable prices for drivers with an at-fault accident on their record, while Gainsco is cheaper for drivers who have less-than-stellar credit scores.

Why do Gainsco and Nationwide offer me different rates?

Auto insurance companies take a look at a lot of different factors when determining the rates they charge policyholders. Variables like your driving record, gender, where you call home, age, and sometimes even things like your credit score can all come into play. Both Gainsco and Nationwide calculate premiums using different formulas, so each one will most likely offer different prices. The only real way to see which company is the lowest for you is by comparing personalized quotes from many different carriers.

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

The only way to find the 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 do all the hard work for you. Just enter your ZIP code and you'll get free quotes from dozens of the best auto insurance carriers in your area. That way, you can guarantee you're getting the best rate. And who knows, the best company for you might not be Gainsco or Nationwide at all!

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.