GEICO vs. Gainsco: Which Company is Better in 2022?

Looking for car insurance and wondering if GEICO or Gainsco is the right company for you? If so, you're probably wondering which carrier has the most affordable prices or the biggest discounts. Luckily, we've done the heavy lifting for you and compared the two companies to help you find the best deal on your next auto insurance policy.
Newly insured car driving down the road
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Quick Facts

  • Based on national averages for insurance, GEICO offers slightly less expensive premiums than Gainsco
  • GEICO offers more affordable average rates for drivers who have an at-fault accident on their record


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

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

You've maybe even narrowed it down to GEICO or Gainsco for your next policy, but between the two, which one has cheaper prices for insurance?

GEICO Gainsco
$185$205

As you can see, GEICO is about $20 per month less expensive than Gainsco when looking at the national average rates for auto insurance.

That being said, that doesn't necessarily mean GEICO will be the more affordable option for every single driver. Insurance companies vary their premiums depending on things like how old you are, where you live, how clean your driving record is, how good your credit score is, and a ton of other factors. So, at the end of the day, rates from each company will differ quite a bit from person to person.

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

GEICO or Gainsco: Average Car Insurance Rates by State

State GEICO Gainsco
AZ$131$205

GEICO and Gainsco only compete against each other in Arizona, where GEICO offers the cheaper average premiums. For Arizona residents, GEICO offers auto insurance for $131 monthly on average. Gainsco's average rates come out to be over 50% more expensive, at $205 a month.

That being said, there are plenty of other factors that go into your car insurance cost than just where you call home. Continue reading to see how other factors will affect your rates.


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Which is the Best Company For Young Drivers

GEICO Gainsco
18-year-old drivers$369$460
25-year-old drivers$163$179

Young drivers -- especially teens -- typically pay a lot for insurance compared to older drivers. It's usually because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

However, that doesn't mean that teen drivers have to just accept sky-high auto insurance premiums. Just look at the table above -- where 18-year-old drivers who have GEICO for their car insurance pay more than $90 less than those who use Gainsco. It's worth noting that GEICO offers insurance in 50 different states compared to Gainsco's one, which can skew the average prices a bit, but the difference here is still considerable.

Even so, with both carriers, you'll see your rates decrease significantly by the time drivers turn 25. For example, average premiums for GEICO policyholders reduce over 55% and Gainsco's prices lower more than 60% over that time.

Which is the Best Company for Retired Drivers?

GEICO Gainsco
65+-year-old drivers$148$158

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

But who has the best rates for retired drivers between GEICO and Gainsco? GEICO gets the slight edge, with premiums for drivers 65 and older around 6% cheaper than the national average for Gainsco.

Which is the Best Company for Married Drivers?

GEICO Gainsco
Single$208$244
Married$154$152

Single drivers tend to get offered slightly more expensive auto insurance prices than married drivers. That's generally because married policyholders tend to own and insure multiple cars, which can often earn you a discount.

When it comes to relationship status, GEICO is the clear winner for those who are single, with rates about $36 a month more affordable than Gainsco, on average. But for married couples, that advantage is much less clear - Gainsco has the edge when it comes to average premiums , but the difference is less than $5.

GEICO vs. Gainsco: Average Rates by Gender

GEICO Gainsco
Male$189$212
Female$181$198

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

Men normally pay around 4% more per month than women with GEICO, while with Gainsco, the difference is closer to 7% a month.

Looking at overall affordability, GEICO comes out as the cheapest option for both genders. On average, male drivers save about $23 per month and women save about $17 with GEICO compared to the average Gainsco policyholder.


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

GEICO Gainsco
State Minimum*$101$125
Full Coverage**$269$285

*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.

Car insurance can be a complicated subject for most people. Everyone needs auto insurance, but there are so many different coverages and terms that it can be hard to find the right policy.

But most policies end up falling into two different types of coverage -- liability only (which covers the other party's property damage and injuries if you cause a collision) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to what you get with a liability policy).

If you're looking for state minimum limits for liability insurance, GEICO generally offers less expensive prices of $101 compared to Gainsco's $125. When it comes to full coverage policies with similar limits, GEICO again has the edge, with policies around $15 a month cheaper than Gainsco, on average.

Is GEICO or Gainsco Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

Accidents and tickets will most likely raise your rates, but is GEICO or Gainsco more affordable for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

GEICO Gainsco
Clean Record$115$185
1 Speeding Ticket$150$203

GEICO policyholders can expect their premiums to go up an average of $35 per month if they get a ticket, while Gainsco usually raises rates about $18 a month, on average.

Even so, GEICO has less expensive premiums for drivers in both categories, offering prices that are 38% and 26% cheaper, respectively, compared to GAINSCO.

Which Company is Best for Drivers After an Accident?

GEICO Gainsco
Clean Record$115$185
1 At-Fault Accident$200$227

After an accident, drivers who have their car insurance through GEICO can expect to see around an $85 -- or about 43% -- increase in their insurance rates. Drivers who use Gainsco for their car insurance will see a monthly bill around $42 (or 19%) more expensive after reporting an accident to their auto insurance company.

Overall, GEICO offers the most affordable prices for drivers with an at-fault collision on their records, with monthly premiums averaging $200 compared to GAINSCO's $227.

Which Company is Best for Drivers with a DUI?

GEICO Gainsco
Clean Record$115$185
1 DUI$275$203

If you get a DUI charge, you can expect some pretty significant increases in your monthly insurance bill -- generally a lot more than a collision or speeding ticket. On average, GEICO will climb your prices about 58% after a DUI, while Gainsco's average premiums increase by just under 10%.

Gainsco has the overall lowest rates for drivers with a DUI on their records at $203 per month, but it's worth noting that GEICO's average rates come from 50 states compared to just one for Gainsco, so the data may be skewed slightly.


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How does Credit Score Impact GEICO and Gainsco Rates?

Did you know that many car insurance companies take your credit score into account when calculating prices? This isn't always the case (for example, California and Hawaii are two states that ban the practice entirely), but it will come into play for several drivers.

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

Looking at GEICO and Gainsco specifically, which company has the cheapest premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

GEICO Gainsco
Excellent Credit Score$131$205
Good Credit Score$164$205

If you have a great credit score, you'll usually find a better deal with GEICO. Drivers with "excellent" credit can save over 35% compared to Gainsco, and those with "good" scores can also expect to see savings -- around $41 or 20% less expensive each month.

Which Company is Best for Drivers with Bad Credit?

GEICO Gainsco
Fair Credit Score$197$205
Poor Credit Score$253$205

If you have less-than-stellar credit, it can be somewhat of a toss-up as far as which company offers you the best rates. Drivers with "fair" credit pay about $8 less with GEICO than Gainsco, but those whose credit is considered "poor" have it flipped -- saving around $48 per month with Gainsco.


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

GEICO Gainsco
6,000 Annual Miles$181$205
12,000 Annual Miles$189$205

How much you drive can have a big impact on your monthly prices. Normally, the more miles you put on your vehicle each year, the more you can expect to pay for 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 premiums for GEICO, with policyholders who drive the least paying about $8 less every month compared to those who drive 12,000 miles yearly. Still, GEICO is the cheaper option for drivers in both categories.

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

Where you live can play a substantial role in how much you pay for car insurance. Typically, policyholders who live in heavily-populated urban areas will pay quite a bit more than rural drivers because of the number of cars that are on the roads in those areas.

GEICO Gainsco
Urban Areas$211$299
Suburban Areas$185$180
Rural Areas$159$136

When comparing these two companies side-by-side, Gainsco tends to offer the most affordable option for drivers in rural and suburban areas, while GEICO wins in urban areas.

In urban areas, GEICO's average prices are around $88 less than GAINSCO. Drivers in suburban ZIP codes pay about $5 less with Gainsco compared to GEICO. If you live in a rural area, you can expect to save around $23 with Gainsco compared to GEICO.

GEICO vs. Gainsco Discounts

Regardless of 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 possible, and the best way to do that is by utilizing as many car insurance discounts as you can.

But where do you even start? With what seems like a million different discounts out there, it may be difficult to find all the ones you can take advantage of.

In the section below, we've compared all of the different discounts offered by GEICO and Gainsco so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

GEICO Gainsco
ABS Discount 
Advance Quote Discount 
Anti-Theft Discount 
Commercial Drivers License Discount 
Covid-19 Relief Discount 
Defensive Driver Discount 
Deployed Driver Discount 
Distant Student Discount 
Driver Training Discount 
DRL Discount 
EFT Discount 
Employee Discount 
Full Coverage Discount 
Good Driving Discount 
Good Student Discount 
Group Discount 
Homeowner Discount 
Mature Driver Discount 
Military Discount 
Multi-Car Discount 

GEICO knocks Gainsco out of the park when it comes to the sheer number of discounts available, offering 28 different discounts to Gainsco's four.

Both carriers offer several of the same discounts -- like paid in full discounts -- but GEICO also offers ABS discounts, anti-theft discounts, commercial drivers license discounts, and more that Gainsco does not.

On the flip side, Gainsco has a couple unique discounts of its own -- advance quote discounts, discounts for being a homeowner, and renewal discounts.


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Final Thoughts: Is GEICO or Gainsco Best for You?

You've seen the role certain variables have on your auto insurance and the different discounts companies offer. But, at the end of the day, which insurance company is the best carrier for you and your specific profile and needs?

GEICO is best for you if....


Gainsco is best for you if...

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

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from a handful of carriers, not just GEICO and Gainsco. Luckily, sites like Compare.com do 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.


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GEICO vs. Gainsco FAQs

Is GEICO or Gainsco cheaper?

Looking just at the national average rates, GEICO is the more affordable of the two carriers, offering average rates of $185 a month compared to $205 for Gainsco.

Who is better, GEICO or Gainsco?

Unfortunately, the real answer is "it depends.". Neither carrier is necessarily "better" for each driver -- it all boils down to your unique auto insurance profile. For example, GEICO offers less expensive premiums for policyholders with an at-fault accident on their record, while Gainsco is cheaper for drivers who have less-than-stellar credit scores.

Why do GEICO and Gainsco offer me different rates?

Insurance companies take a look at lots of different factors when determining the prices they charge drivers. Variables like your driving record, where your home is, gender, age, and sometimes even things like your credit score can all be used. Both GEICO and Gainsco calculate rates differently, so each one will most likely offer different prices. The only real way to see which company is the cheapest for you is by comparing personalized quotes from a bunch of different carriers.

How do I know if GEICO or Gainsco 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 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 carriers in your area. That way, you can guarantee you're getting the lowest price. And who knows, the best company for you might not be GEICO or Gainsco at all!


Methodology

All data in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of data to determine all of the average rates referenced above. All data is reported by each carrier to statewide insurance bureaus and is up-to-date as of July 1, 2021.

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