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

Quick Facts

• Looking at the national averages for car insurance, Travelers offers less expensive prices than Gainsco
• Gainsco offers more affordable premiums for policyholders who live in rural neighborhoods
• Travelers has cheaper rates for policyholders who have a short commute

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

So, you're thinking about switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering huge savings. But exactly how much can you save by switching?

You've maybe even narrowed your search down to Gainsco or Travelers as your top options, but which carrier has more affordable premiums for insurance?

As you can see, Travelers has average rates that are around 19% a month cheaper than those from Gainsco when looking at the national average rates for auto insurance.

However, that doesn't necessarily mean Travelers will be the less expensive option for each driver. Insurance carriers use tons of complex algorithms to determine prices, so depending on where you live or how clean your driving record is (among a lot of other factors), you could see wildly different rates from the ones above.

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

Gainsco vs. Travelers: Average Car Insurance Rates by State

Gainsco and Travelers only compete against each other in Arizona, where Travelers offers the cheaper average prices. Travelers drivers tend to pay about $81 per month less on average compared to drivers who use Gainsco for their car insurance.

There's a lot more that goes into your insurance payment than just where you live. Continue reading to learn more about how other variables will affect your rates.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance rates of any group on the road. It's normally because teen 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 car insurance. Just look at the table above -- where 18-year-old drivers who have Travelers for their insurance pay over 25% less than those who use Gainsco.

But with both companies, you'll see your premiums lower significantly by the time you turn 25. For example, average prices for Gainsco policyholders drop about $300 and Travelers's premiums decrease around $200 over that time.

Which is the Best Company for Retired Drivers?

When it comes to auto insurance, patience and experience pay off, with drivers around retirement age paying some of the lowest rates out there.

So, which carrier offers the best prices to retired drivers? Travelers gets the edge, with premiums for drivers 65 and older more than 15% more affordable than the national average for Gainsco.

Which is the Best Company for Married Drivers?

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

For single drivers, the difference in average prices between these two carriers is significant, with Travelers premiums coming in at a quarter less than Gainsco's. The advantage for married drivers with Travelers is also obvious, where drivers save over $15 a month.

Gainsco or Travelers: Average Rates by Gender

Men are statistically more likely than women to get into collisions and file an insurance claim. That means when it comes to auto insurance men will generally end up paying a little more.

On average, men see rates about 7% per month higher with Gainsco, and around 6% more with Travelers.

Looking at the data for each company specifically, Travelers comes out on top for both men and women. On average, male drivers save about $40 a month and women save about $37 with Travelers compared to the average Gainsco policyholder.

Gainsco vs. Travelers: 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 pretty complicated. There are so many different terms and limits that it can make it pretty confusing to find the right policy for you.

The two most common policies end up falling into two different types of coverage -- liability coverage (which covers the other party's property damage and injuries if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to what you get with liability coverage).

Looking specifically at state minimum liability limits, Travelers has the edge, with average monthly prices coming in at $108. If you want a full coverage policy with the same state minimum limits, Travelers again has the edge, with policies averaging around $225 per month to Gainsco's $285.

Is Gainsco or Travelers Better for Drivers with Spotty Records?

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

You'll probably end up paying more with at-fault accidents and speeding tickets on your record, but which of these two carriers offers the cheapest prices to drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Gainsco for their insurance can typically expect their monthly bill to go up about 9% after getting a speeding ticket. Travelers policyholders can expect a bit more drastic of an increase of around 20%.

Even so, Travelers has cheaper rates for drivers in both categories. With Travelers, drivers with a clean record can save about $57 a month and drivers with a ticket can save around $43 per month.

Which Company is Best for Drivers After an Accident?

Gainsco drivers who get in an accident can expect to see their prices rise by just under 20%, while those who have insurance through Travelers will see about a 25% increase.

At the end of the day, Travelers offers the most affordable premiums for drivers with an at-fault collision on their records, with average rates coming in at $173 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 car insurance bill -- generally a lot more than a collision or speeding ticket. For example, Travelers increases average prices by more than $75 a month -- that's nearly a 40% increase.

How does Credit Score Impact Gainsco and Travelers Rates?

Often times, your credit score can be used as one of the factors to calculate your monthly auto insurance premiums. Certain states and companies do not allow for credit score to be used as an insurance factor, but it does affect several policyholders out there.

Car insurance carriers argue that those with poor credit scores are less likely to pay their bills on time every month, which raises the risk involved on their end, while the opposite is true for those with good credit.

Looking specifically at Travelers and Gainsco, which company has the best rates for drivers 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 Travelers 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 insurance bill. Usually, the more milage you drive, the more you can expect to pay for coverage.

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 premiums for Travelers, with policyholders who drive the least paying around $5 less each month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Travelers is the more affordable carrier.

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

Where you call home can play a pretty big role in how much you pay for auto insurance. Normally, those who live in rural areas will pay less than policyholders in urban areas since there are a lot fewer vehicles on the road where they live, which reduces the chances of an accident.

Gainsco vs. Travelers Discounts

No matter 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 you can, and the best way to do that is by utilizing as many auto insurance discounts as possible.

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

Luckily, we did the hard work for you and looked at all of the different discounts Gainsco and Travelers offer their customers so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Travelers knocks Gainsco out of the park when it comes to the sheer number of discounts available, offering 25 different discounts to Gainsco's 25.

A couple of those are overlapping for things like advance quote discounts and paid in full discounts. Travelers also offers discounts for ABS, alternative fuel, anti-theft, and more.

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

Final Thoughts: Is Gainsco or Travelers Best for You?

So, we've broken down the average rates for many of the variables insurance companies look at, and we've shown you all the discounts each company offers. But, at the end of the day, which carrier is the best one for you and your specific profile and needs?

Travelers might be best for you if....

• You have a speeding ticket on your driving record.
• Your credit score is high.
• You don't spend much time in your car.

Gainsco might be best for you if...

• Your driving record includes a DUI charge.
• Your neighborhood is in a rural area.

Hopefully, this guide helps you get a better idea of the difference between Gainsco and Travelers and that you can now make a more informed decision when it comes to 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 a handful of carriers, not just Gainsco and Travelers. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP code below and get free quotes from dozens of the top insurance companies in your area, all in just a few minutes.

Gainsco vs. Travelers FAQs

Is Gainsco or Travelers cheaper?

Travelers is the less expensive of the two carriers when looking at national average prices, with policies averaging $167 per month with Travelers and $205 for Gainsco. However, that doesn't mean Travelers will be the cheapest company for everyone, since there are a range of different factors that are considered when it comes to your car insurance cost.

Who is better, Gainsco or Travelers?

Sadly, the only answer we can give you is "it depends.". Neither carrier is "better" for every policyholder -- it all boils down to your unique auto insurance profile. For example, Gainsco is cheaper for drivers who have less-than-stellar credit scores, while Travelers offers more affordable rates for drivers with an at-fault accident on their record.

Why do Gainsco and Travelers offer me different rates?

Insurance companies use a lot of different variables when determining the premiums they charge. Things like where you park your car, age, where your home is, gender, and sometimes even things like your credit score can all be used. Both Gainsco and Travelers use different formulas, so it's likely they'll offer different rates. The best way to determine which company is the most affordable for you is by comparing personalized quotes from many different carriers.

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

The only way to find the auto 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 quotes from dozens of your local top car insurance carriers for free. With those, you can guarantee you're getting the best premium. And maybe you'll find that the best company for you isn't Gainsco or Travelers 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.