Mercury vs. Gainsco Insurance

Which insurance carrier is right for you? Compare pros & cons, plans, and quotes from Mercury and Gainsco.

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Mercury vs. Gainsco: What You Need to Know

George Joseph founded Mercury General Corporation in Los Angeles with a promise to provide more affordable rates than other carriers and the best customer service in the industry. The first policy was sold in 1962 when the company had only six employees and 90 agents. Two years later Mercury Insurance opened an office in Orange County, CA. In 1966 they opened their first office in the San Fernando Valley and a year later earned an A+ rating from A.M. Best. They continued expanding in southern California with an office opening in San Diego. In 1968 Mercury established a holding company, then acquired shares of Mercury Casualty Company and made it a wholly-owned subsidiary of Mercury General Corp. They then moved into their newly opened San Jose office. In 1970, Mercury wrote $1 million in premiums in one month and grew to employ 467 agents. In 1972 they sold their first homeowners policy. In 1973 Mercury formed a subsidiary for underwriting preferred risk, thereby increasing business using a 34-page manual written by the company’s founder. In 1974, Mercury opened its first Sacramento office and by 1977, Mercury Insurance becomes the largest insurance subsidiary, producing over $1 billion in premiums by 2011. In 1978, Mercury established a Special Investigations Unit (SIU) to fight insurance fraud.

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 Mercury Overview and GAINSCO Auto Insurance Overview.

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

Below is a list of the average rates that drivers typically pay with Mercury and GAINSCO Auto Insurance. On average, Mercury charges approximately $224.52 per month while GAINSCO Auto Insurance comes in at around $145.74 per month. For Mercury, the cheapest state average is Virginia at $136.84 per month and the most expensive is Florida at $303.06 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.

Mercury

Average Rate

$224.52
GAINSCO Auto Insurance

Average Rate

$145.74
National

Average Rate

$119.16
State Mercury GAINSCO Auto Insurance
Arizona $196.51 -
California $171.71 -
Florida $303.06 -
Georgia $209.71 -
Illinois $158.18 -
Nevada $291.17 -
New Jersey $233.18 -
Oklahoma $163.37 -
South Carolina- $229.67
Texas $226.25 -
Virginia $136.84 -

Mercury 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 Mercury and GAINSCO Auto Insurance typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Mercury GAINSCO Auto Insurance
1 Vehicle $205.50 $126.02
2 Vehicles $281.55 $
3 Vehicles $493.84 $
4 Vehicles $516.31 $

Mercury 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 Mercury charges $214.77 per month and GAINSCO Auto Insurance charges $122.40 per month for customers who own their home.

Own/Rent Mercury GAINSCO Auto Insurance
Own $214.77 $122.40
Rent $229.64 $151.99

What is Mercury and Gainsco Insurance Rating?

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

ComparisonMercuryGainsco
Year Founded19621978
Market Share1.13%
A.M. Best RatingB+
BBB RatingA+A+
Financial StrengthExcellentAbove Average
JD Power RankingAverage
Moody’s RatingBaa2
NAIC Complaint Ratio2.34
S&P RatingA

Mercury or Gainsco: Insurance Products Offered

What coverage is available through Mercury and Gainsco? Both insurance companies offer Auto insurance. Additional products from Mercury insurance also includes Commercial, Condo, Home, Renters, 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 Mercury and GAINSCO Auto Insurance Insurance page.

InsuranceMercuryGainsco
Auto Insurance
Commercial Insurance
Condo Insurance
Home Insurance
Renters Insurance
Umbrella Insurance

Mercury or Gainsco: Ways To Save

Mercury offers a wide range of discounts to its policyholders, including Auto Pay, E-signature, and Good Driver discounts. In contrast, Gainsco also offers a few discounts that Mercury doesn’t, including Renewal, Prior GAINSCO Coverage, and Prior Coverage discounts. Start taking advantage of discounts offered by insurance providers like Gainsco and Mercury insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

MercuryGainsco
Anti-theft Feature DiscountAdvance Purchase Discount
Auto Pay DiscountAgency Internal Transfer Discount
E-signature DiscountAuto-Pay Discount
Good Driver DiscountHomeowner Discount
Good Student DiscountLength of Ownership (Loyalty Discount)
Multi-car DiscountMulti-car Discount
Multi-policy DiscountPay-in-Full Discount
Occupational DiscountPrior Coverage Discount
Pay-in-Full DiscountPrior GAINSCO Coverage Discount
Renewal Discount

Pros & Cons of Mercury & Gainsco

Pros

Mercury
  • Offers low rates and excellent coverage for homeowners, condo, renters, umbrella, auto, mechanical breakdown, business auto and business insurance in 13 states.
Gainsco
  • Flexible insurance policies
  • Easily customizable policies
  • Affordable rates and transparent pricing.

Cons

Mercury
  • Mercury Insurance is only available in 13 states.
  • Not all discounts are available in all 13 states.
Gainsco
  • High customer-complaint ratio
  • The website doesn’t accept electronic payments.

Mercury or Gainsco Mobile Apps Options

The Mercury Mobile app is available for android. This insurance tool is where you can manage payments, view auto policy information, download ID cards and more.

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.

Mercury Mobile App
iOS N/ANot Available
Android     2.7200 user reviews
Gainsco Mobile App
iOS     2.68 user reviews
Android     2.98 user reviews

Mercury & Gainsco Contact Info

Mercury Contact Info
Address4484 Wilshire Boulevard Los Angeles, California
Phone1 (800) 503-3724
Websitehttps://www.mecuryinsurance.com
Facebookhttps://www.facebook.com/MercuryInsurance
Twitterhttps://twitter.com/mercuryins
Youtubehttps://www.youtube.com/mercury
Linkedinhttps://www.linkedin.com/company/mercury-insurance
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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