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Gainsco vs. Erie Insurance
Which insurance provider is right for you? Compare coverage, pros & cons, and quotes from Gainsco and Erie.
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- GAINSCO Auto Insurance vs Erie
Gainsco vs. Erie: What You Need to Know
Established in 1978 as a Texas corporation, Gainsco is a property and casualty insurance holding company, concentrating their efforts on the non-standard personal automobile market, specializing in minimum-limits personal auto insurance. They do offer full and standard coverage as well but specialize in minimum liability coverage. The company is based in Dallas, with a regional office in Miami and its operations are conducted through MGA Insurance Company Inc., a Texas corporation. Gainsco sponsors a racing team, the GAINSCO/Bob Stallings Racing team, which won the Grand-AM Rolex Sports Car Series twice with the No. 99 GAINSCO “Red Dragon” DaytonaPrototype. Gainsco sells insurance through independent partner agents in the District of Columbia and 44 states that include Arizona, Florida, Georgia, New Mexico, Oklahoma, South Carolina, Texas, and Virginia. All customer service needs can be met in English or Spanish.
Erie Insurance Exchange was founded in 1925 by H.O. Hirt and O.G. Crawford, in the city of Erie, Pennsylvania. H.O. Hirt hoped to create a company based on superior service using the mantra, “The ERIE is Above all in sERvIcE,” with the letters "E-R-I-E" raised in capitals out of the word “service.” It still remains the company tagline today. Three years after being established, the company was doing so well that it expanded its business by opening its first office outside Erie, in Pittsburgh. By 1934, the company created the “Super Standard Auto Policy,” which was used as a model for other insurance companies across the country. The company later expanded its product portfolio into a home, business and in the year 1967, Erie Family Life Insurance Company was formed, offering life insurance to consumers. Erie Indemnity Company was registered with the Securities and Exchange Commission in 1994 and in the following year it was listed on NASDAQ. Today, Erie Insurance Company ranks number 381 on the 2019 FORTUNE 500® list and has over 5,000 employees and 12,000 independent agents. Also, the company ranks highest among auto insurers in providing a satisfying purchase experience, with a score of 917 (on a 1,000-point scale).
Below is a list of average rates, rankings, products and discounts for the two companies. For full company overviews, you can visit GAINSCO Auto Insurance Overview and Erie Overview.
GAINSCO Auto Insurance vs. Erie: How much are the Average Rates?
Below is a list of the average rates that drivers typically pay with GAINSCO Auto Insurance and Erie. On average, GAINSCO Auto Insurance charges approximately $79.83 per month while Erie comes in at around $121.07 per month. For GAINSCO Auto Insurance, the cheapest state average is at $0.00 per month and the most expensive is at $0.00 per month. For Erie, the cheapest state average is Ohio at $75.32 per month and the most expensive is Maryland at $190.79 per month.
Average Rate
Average Rate
Average Rate
| State | GAINSCO Auto Insurance | Erie |
|---|---|---|
| Maryland | - | $190.79 |
| New York | - | $138.78 |
| North Carolina | - | $81.04 |
| Ohio | - | $75.32 |
| Pennsylvania | - | $118.56 |
| Tennessee | - | $117.54 |
| Virginia | - | $94.00 |
| West Virginia | - | $109.60 |
| Wisconsin | - | $111.12 |
GAINSCO Auto Insurance vs. Erie: Rates by Number of Vehicle
Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that GAINSCO Auto Insurance and Erie typically charge for drivers who have more than 1 vehicle.
| Number of Vehicles | GAINSCO Auto Insurance | Erie |
|---|---|---|
| 1 Vehicle | $ | $118.70 |
| 2 Vehicles | $ | $141.78 |
GAINSCO Auto Insurance vs. Erie: Rates by Homeownership
What is Gainsco and Erie Insurance Rating?
Which car insurance company is better? We've made it easy to compare companies side by side. See how Gainsco and Erie ranked among the industry ratings.
| Comparison | Gainsco | Erie |
|---|---|---|
| Year Founded | 1978 | 1925 |
| Market Share | 1.29% | |
| A.M. Best Rating | B+ | A+ |
| BBB Rating | A+ | |
| Financial Strength | Above Average | Excellent |
| NAIC Complaint Ratio | 2.34 | 0.22 |
Gainsco or Erie: Insurance Products Offered
What coverage is available through Gainsco and Erie? Both insurance companies offer Auto insurance. Additional products from Erie insurance also includes Commercial, Condo, Health, Home, Life, Motorcycle, Renters, and RV insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit GAINSCO Auto Insurance and Erie Insurance page.
| Insurance | Gainsco | Erie |
|---|---|---|
| Auto Insurance | ✔ | ✔ |
| Commercial Insurance | ✔ | |
| Condo Insurance | ✔ | |
| Health Insurance | ✔ | |
| Home Insurance | ✔ | |
| Life Insurance | ✔ | |
| Motorcycle Insurance | ✔ | |
| Renters Insurance | ✔ | |
| RV Insurance | ✔ |
Gainsco or Erie: Ways To Save
Gainsco offers a wide range of discounts to its policyholders, including Agency Internal Transfer, Auto-Pay, and Homeowner discounts. Whereas, Erie also offers a few discounts that Gainsco doesn’t, including Young Driver Loyalty, Teen Driver, and Student discounts. Start taking advantage of discounts offered by insurance providers like Erie and Gainsco insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.
| Gainsco | Erie |
|---|---|
| Advance Purchase Discount | Advance Quote Discount |
| Agency Internal Transfer Discount | Age 55 Discount |
| Auto-Pay Discount | Driver Training Discount |
| Homeowner Discount | Multi-Policy Discount |
| Length of Ownership (Loyalty Discount) | Multi-Vehicle Discount |
| Multi-car Discount | New Vehicle Discount |
| Pay-in-Full Discount | Paid in Full Discount |
| Prior Coverage Discount | Prior Bodily Injury Limits (BIL) Discount |
| Prior GAINSCO Coverage Discount | Reduced Usage Discount |
| Renewal Discount | Safe Driver Discount |
| Safety Features Discount | |
| Student Discount | |
| Teen Driver Discount | |
| Young Driver Loyalty Discount |
Pros & Cons of Gainsco & Erie
Pros
Gainsco
- Flexible insurance policies
- Easily customizable policies
- Affordable rates and transparent pricing.
Erie
- Erie Insurance is well-known for its competitive price and excellent claims service.
- It has fewer customer complaints than the industry median, relative to its size.
- Offers 12-month premium quotes
- Multiple discounts available
- It locks in your auto insurance rate, so your premium won’t change unless you add or remove drivers or cars.
Cons
Gainsco
- High customer-complaint ratio
- The website doesn’t accept electronic payments.
Erie
- It doesn’t accept claims online, only by phone.
- It offers its products in only 12 states.
Gainsco or Erie Mobile Apps Options
The Gainsco mobile app is available for iOS and Android. This mobile app offers some benefits and services including requesting a quote, making a payment, reporting a claim, requesting an agent, contacting the insurer, and getting the latest Gainsco news.
The Erie Insurance mobile app is available for iOS and Android.
| Gainsco Mobile App | ||
|---|---|---|
| iOS | 2.6 | 8 user reviews |
| Android | 2.9 | 8 user reviews |
| Erie Mobile App | ||
|---|---|---|
| iOS | 3.3 | 18 user reviews |
| Android | 3.8 | 19 user reviews |
Gainsco & Erie Contact Info
| Gainsco Contact Info | |
|---|---|
| Address | 3333 Lee Parkway, Dallas, TX 75219 |
| Phone | 1-866-424-6726 |
| Website | https://www.gainsco.com/ |
| https://www.facebook.com/GAINSCOInsurance/ | |
| https://twitter.com/GAINSCOAgency | |
| Youtube | https://www.youtube.com/channel/UCuoo1lEvzyJ7seCjj3NmerA |
| https://www.linkedin.com/company/gainsco/ | |
| Erie Contact Info | |
|---|---|
| Address | 100 Erie Insurance Place, PA 16530 |
| Phone | 1-800-458-0811 |
| Website | https://www.erieinsurance.com/ |
| https://www.facebook.com/erieinsurance/ | |
| https://twitter.com/erie_insurance | |
| Youtube | https://www.youtube.com/user/ErieInsurance |
| https://www.linkedin.com/company/erie-insurance-group/ | |
Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.
Fran Majidi manages content on SmartFinancial's website. She's had nearly a decade's worth of experience writing about insurance-related topics. Prior, she was an arts and entertainment editor in New York City. She has a B.A. from Barnard College and an M.F.A. in writing from The New School. She writes books under her given name, Afarin Majidi.
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