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

Quick Facts

• In general, State Farm offers significantly cheaper prices than Gainsco
• State Farm offers more affordable rates for policyholders who live in suburban areas
• State Farm offers more affordable premiums for policyholders who have a clean record

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

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

You've maybe even narrowed it down to Gainsco or State Farm, but between the two, which one will save you the most?

Looking at nationwide averages, State Farm has average rates that are about 23% per month more affordable than those from Gainsco.

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

Luckily, we've broken down average rates from both Gainsco and State Farm by multiple different rate factors, so read on to find out which carrier is the best for you.

Gainsco or State Farm: Average Car Insurance Rates by State

Gainsco and State Farm only compete against each other in Arizona, where State Farm offers the cheaper average premiums. For Arizona residents, State Farm offers auto insurance for $203 a month on average. Gainsco's average prices come out to be more expensive, at $205 per month.

There's a lot more that goes into your insurance payment than just where you live. Read on to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for car insurance than any group on the road. That's usually because young, inexperienced drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have State Farm for their auto insurance pay more than $100 less than those who use Gainsco.

But with both carriers, you'll see your premiums lower significantly by the time you turn 25. State Farm offers the steepest decrease, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Gainsco's average prices drop over 60% during that same period.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the cheapest car insurance premiums out there. After all, they've likely been driving for quite some time, which normally decreases their chances of accidents and other infractions that can increase rates.

But who has the best prices for retired drivers between Gainsco and State Farm? State Farm gets the edge, with premiums for drivers 65 and older $47 more affordable than the national average for Gainsco.

Which is the Best Company for Married Drivers?

You may not be aware, but insurance rates tend to be more expensive for those who are single than they are for married policyholders. This usually boils down to married couples having several cars on their policy -- something lots of car insurance companies will reward with discounts.

When it comes to relationship status, State Farm is the clear winner for single policyholders, with prices around $61 a month cheaper than Gainsco, on average. For married drivers, the advantage is clear again - State Farm has the edge when it comes to average rates.

Gainsco vs. State Farm: Average Rates by Gender

Because men are more likely to get tickets and get into accidents, they are more likely to file a claim with insurance. Therefore, men typically pay more for auto insurance than women.

Generally, men see prices nearly $15 per month higher with Gainsco, while with State Farm, the difference is closer to $12 a month.

When it comes to the most affordable premiums for each gender, State Farm comes out as the lowest option for both genders, with average prices $48 less for men and $46 cheaper for women.

Gainsco or State Farm: 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 several different coverages that account for a bunch of different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

The two most common policies that many drivers look at fall into two categories -- liability only (that covers property damage and bodily injury for other drivers and their passengers if you cause a collision) and full coverage (which normally refers to having comprehensive and collision coverages in addition to liability).

If you're looking for state minimum liability limits, State Farm generally offers less expensive premiums of $99 compared to Gainsco's $125. When it comes to full coverage policies with similar limits, State Farm again has the edge, with policies about $70 per month more affordable than Gainsco, on average.

Is Gainsco or State Farm Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance carriers offering great rates 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 collisions lead to higher premiums, but which company -- Gainsco or State Farm -- has the most affordable prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Gainsco policyholders can expect their rates to go up an average of $18 a month if they get a ticket, while State Farm usually raises prices around $21 per month, on average.

However, State Farm tends to offer the best prices for both drivers who have clean records and those with a recent speeding ticket, offering rates that are 28% and 24% cheaper, respectively, compared to GAINSCO.

Which Company is Best for Drivers After an Accident?

Both companies will raise premiums pretty significantly if you get into an at-fault accident with Gainsco raising by over $40. State Farm has a less extreme raise, but you can still expect to pay just under $30 more than you were prior to your first collision.

Overall, State Farm offers the lowest rates for drivers with an at-fault accident on their records, with monthly prices averaging $163 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 an accident or ticket. State Farm drivers usually see a 25% increase in their insurance premiums after a DUI charge, while Gainsco will normally climb prices by about 9%.

How does Credit Score Impact Gainsco and State Farm Rates?

Did you know that many auto insurance carriers take your credit score into account when calculating premiums? This isn't always the case (California, for example, has banned the use of credit score as a rating factor) but it might come into play for several drivers.

Car insurance companies argue that those with good credit scores are more likely to pay their bills on time each month, which lowers the risk involved on their end, while the opposite is true for those with bad credit.

So, which carrier offers the cheapest rates 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 State Farm 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 considerable impact on your monthly prices? Typically, those who drive less will end up with less expensive premiums since there's less of a chance of getting into a collision and causing 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 State Farm, with policyholders who drive the least paying around $13 less every month compared to those who drive 12,000 miles each year. Still, State Farm is the cheaper option for drivers in both categories.

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

Where you park your vehicle can have a large impact on your monthly insurance bill. Usually, if you live in a rural area with fewer cars on the road, you'll pay a little less for auto insurance, while the opposite is true for people in urban areas.

State Farm boasts the lowest average prices for drivers in every type of area, no matter if it's urban, suburban, or rural.

For drivers in urban ZIP codes, State Farm offers rates about $185 monthly compared to Gainsco's $299. People who live in suburban ZIP codes can expect to pay around $161 a month for State Farm and $180 for Gainsco. Lastly, those in rural areas tend to get the cheapest premiums from both carriers, with average monthly rates coming in at $127 and $136 for State Farm and Gainsco respectively.

Gainsco vs. State Farm 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. That's where insurance discounts comes into play.

But where do you even start? With what seems like a million different discounts out there, it may be hard to find all the ones you qualify for.

In the table below, we've compared all of the different discounts offered by Gainsco and State Farm so that you can see which carrier can save you the most money each month.

State Farm knocks Gainsco out of the park when it comes to the sheer number of discounts available, offering 23 different discounts to Gainsco's 23.

There are a couple discounts both companies offer, but State Farm also offers ABS discounts, annual mileage discounts, anti-theft discounts, and more that Gainsco does not.

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

Final Thoughts: Is Gainsco or State Farm Best for You?

You've seen the role certain factors have on your car insurance and the different discounts carriers offer. But, when it comes down to it, which carrier is the best company for you, your vehicle, and your wallet?

State Farm might be best for you if....

• You value the experience that comes with a large national insurance company.
• You have above-average credit.
• You have a short commute.

Gainsco might be best for you if...

• You have a more unique driver profile than those we mentioned above.

We hope this guide has ben a valuable resource as you compare Gainsco and State Farm and that it aids in making a more informed decision about your auto insurance.

At the end of the day, the best way to make sure you're getting the best deal on your insurance policy is to compare quotes from several companies, not just Gainsco and State Farm. Luckily, Compare.com makes it easy for you to do just that. Simply enter your ZIP codes below and get multiple quotes from some of the best auto insurance carriers in your area, all for free.

Gainsco vs. State Farm FAQs

Is Gainsco or State Farm cheaper?

Looking just at the national average prices, State Farm is the less expensive of the two companies, offering average rates of $158 per month compared to $205 for Gainsco. That being said, State Farm won't necessarily be the lowest carrier for every policyholder, since there are a variety of different variables (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Gainsco or State Farm?

Sadly, the answer truly is "it depends.". No one company is "better" for each driver -- it all comes down to what your unique car insurance profile looks like. For example, State Farm offers more affordable rates for policyholders with an at-fault collision on their record, while Gainsco is less expensive for drivers who have less-than-stellar credit scores.

Why do Gainsco and State Farm offer me different rates?

Auto insurance carriers take a look at a lot of different factors when determining the premiums they charge drivers. Things such as your driving record, gender, age, where your home is, and sometimes even things like your credit score can all be used. Both Gainsco and State Farm use different formulas, so each one will most likely offer different prices. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from lots of different companies.

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

The only way to find the insurance company 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, sites like Compare.com make it easy for you to do just that. Just enter your area information and you'll get free quotes from dozens of the best car insurance companies in your area. That way, you can guarantee you're getting the best price. And who knows, the best carrier for you might not be Gainsco or State Farm 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.