Hanover vs. Gainsco Insurance

Which insurance carrier is right for you? Compare price, coverage, and quotes from Hanover and Gainsco.

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Hanover vs. Gainsco: What You Need to Know

From 2003-2007, the Wall Street Journal ranked The Hanover Insurance Companies #1 in the property and casualty industry for increasing shareholder value over a 5-year-period. In 2009, The Hanover acquired commercial business from OneBeacon Insurance Group, which enabled rapid Western U.S. expansion. In the same year, A.M. Best upgraded its company rating to “A” (excellent). From 2010 to 2011, it continued to acquire more businesses both in the U.S. and abroad, which included Lloyd’s of London Chaucer Holdings. In 2013, The Hanover exceeded $5 billion worth of written premiums and wrote business in 179 countries. In 2015, Standard & Poor’s upgraded the company’s financial rating to “A” and The Hanover was recognized by Forbes as one of America’s best employers and one of America’s most trustworthy financial companies.

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” Daytona Prototype. 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.

Below is a list of average rates, rankings, products and discounts for the two companies. For full company overviews, you can visit Hanover Overview and GAINSCO Auto Insurance Overview.

Hanover vs. GAINSCO Auto Insurance: How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with Hanover and GAINSCO Auto Insurance. On average, Hanover charges approximately $465.06 per month while GAINSCO Auto Insurance comes in at around $144.44 per month. For Hanover, the cheapest state average is Massachusetts at $199.21 per month and the most expensive is Michigan at $646.00 per month. For GAINSCO Auto Insurance, the cheapest state average is South Carolina at $229.67 per month and the most expensive is South Carolina at $229.67 per month.

Hanover

Average Rate

$465.06
GAINSCO Auto Insurance

Average Rate

$144.44
National

Average Rate

$120.03
State Hanover GAINSCO Auto Insurance
Arkansas $407.97 -
Connecticut $459.42 -
Illinois $494.09 -
Indiana $495.59 -
Maine $245.48 -
Massachusetts $199.21 -
Michigan $646.00 -
New Hampshire $389.49 -
New Jersey $635.73 -
New York $328.40 -
South Carolina- $229.67

Hanover vs. GAINSCO Auto Insurance: Rates by Number of Vehicle

Home

Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that Hanover and GAINSCO Auto Insurance typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Hanover GAINSCO Auto Insurance
1 Vehicle $428.70 $125.80
2 Vehicles $638.18 $
3 Vehicles $1,057.10 $
4 Vehicles $1,480.92 $

Hanover vs. GAINSCO Auto Insurance: Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Hanover charges $476.13 per month and GAINSCO Auto Insurance charges $122.40 per month for customers who own their home.

Own/Rent Hanover GAINSCO Auto Insurance
Own $476.13 $122.40
Rent $460.81 $150.14

What is Hanover and Gainsco Insurance Rating?

Which car insurance company is better? We've made it easy to compare companies side by side. See how Hanover and Gainsco ranked among the industry ratings.

ComparisonHanoverGainsco
Year Founded18521978
A.M. Best RatingAB+
BBB RatingA+A+
Financial StrengthExcellentAbove Average
JD Power RankingAbove Average
NAIC Complaint Index1.28
NAIC Complaint Ratio2.34
S&P RatingA

Hanover or Gainsco: Insurance Products Offered

What coverage is available through Hanover and Gainsco? Both insurance companies offer Auto insurance. Additional products from Hanover insurance also includes Commercial, Home, RV, and Umbrella insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit Hanover and GAINSCO Auto Insurance Insurance page.

InsuranceHanoverGainsco
Auto Insurance
Commercial Insurance
Home Insurance
RV Insurance
Umbrella Insurance

Hanover or Gainsco: Ways To Save

Gainsco offers a wide range of discounts to its policyholders, including Agency Internal Transfer, Auto-Pay, and Homeowner discounts. Whereas, Hanover also offers a few discounts that Gainsco doesn’t, including Student Away at School, One Bill, and No-Fee Electric Funds Transfers discounts. Start taking advantage of discounts offered by insurance providers like Gainsco and Hanover insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

HanoverGainsco
Accident Prevention Course DiscountAdvance Purchase Discount
Affinity GroupsAgency Internal Transfer Discount
Anti-theft Device DiscountAuto-Pay Discount
Good Student DiscountHomeowner Discount
Hanover Platinum ExperienceLength of Ownership (Loyalty Discount)
Multi-Car DiscountMulti-car Discount
No-Fee Electric Funds TransfersPay-in-Full Discount
One BillPrior Coverage Discount
Pay-in-Full DiscountPrior GAINSCO Coverage Discount
Student Away at School DiscountRenewal Discount

Pros & Cons of Hanover & Gainsco

Pros

Hanover
  • The Hanover Insurance Group platinum coverages come in a great bundle.
  • Useful mobile app
Gainsco
  • Flexible insurance policies
  • Easily customizable policies
  • Affordable rates and transparent pricing.

Cons

Hanover
  • The Hanover Insurance Group does not offer rideshare insurance or accident forgiveness options.
  • Very few discounts
  • Hanover Insurance is more expensive than most options and a lower customer service rating.
  • Hanover only writes auto insurance in 18 states.
Gainsco
  • High customer-complaint ratio
  • The website doesn’t accept electronic payments.

Hanover or Gainsco Mobile Apps Options

The Hanover Mobile app is available for iOS and Android. With this app, you’ll be able to see vital policy information and billing information. You can also file a home or auto claim without making a phone call.

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.

Hanover Mobile App
iOS     3.517 user reviews
Android     2.621 user reviews
Gainsco Mobile App
iOS     2.68 user reviews
Android     2.98 user reviews

Hanover & Gainsco Contact Info

Hanover Contact Info
Address440 Lincoln Street, Worcester, MA 01653
Phone1-508-855-1000
Websitehttps://www.hanover.com/
Facebookhttps://www.facebook.com/hanoverinsurance/
Twitterhttps://twitter.com/The_Hanover
Youtubehttps://www.youtube.com/channel/UCe9zQijKTBxGff55FKAvytg
Linkedinhttps://www.linkedin.com/company/the-hanover-insurance-group/
Gainsco Contact Info
Address3333 Lee Parkway, Dallas, TX 75219
Phone1-866-424-6726
Websitehttps://www.gainsco.com/
Facebookhttps://www.facebook.com/GAINSCOInsurance/
Twitterhttps://twitter.com/GAINSCOAgency
Youtubehttps://www.youtube.com/channel/UCuoo1lEvzyJ7seCjj3NmerA
Linkedinhttps://www.linkedin.com/company/gainsco/

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.

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