Is GAINSCO and MGA the same?

GAINSCO’s insurance company subsidiary is MGA Insurance Company, Inc., which sells auto insurance policies under its brand name, GAINSCO Auto Insurance®.

Is GAINSCO a real insurance company?

Headquartered in Dallas, Gainsco specializes in nonstandard auto insurance for high-risk drivers. It sells policies through comparison websites and a network of independent agents in the states it services. Gainsco was acquired by State Farm, the largest auto insurer in the country, in late 2020.

Is GAINSCO part of State Farm?

BLOOMINGTON, Ill., December 31, 2020 – In September, State Farm Mutual Automobile Insurance Company announced an agreement to acquire non-standard auto insurer GAINSCO for approximately $400 million in cash.

Is GAINSCO out of business?

GAINSCO will continue to operate as a separate company and brand with continued focus on its current objectives. Over time, the parties expect to provide State Farm agents the opportunity to distribute GAINSCO products in addition to State Farm products and services.

Who owns GAINSCO?

State FarmGAINSCO / Parent organization

What states allow GAINSCO?

GAINSCO sells our insurance policies through a network of independent agent partners and web marketplaces in the states of Utah, Arizona, New Mexico, Texas, Oklahoma, Tennessee, Virginia, South Carolina, Georgia, Florida, Alabama, Ohio, Indiana, Arkansas, Illinois, Missouri, Wisconsin, and Mississippi.

Who owns gainsco?

How long has Gainsco insurance been around?

GAINSCO’s insurance operations consist of about 600 employees with about 350 employees in its Dallas home office….GAINSCO.

Traded as OTC Pink No Information: GANS
Industry Financial services
Genre Financial
Founded 1978 Fort Worth, Texas, U.S.
Headquarters Dallas, Texas , U.S.

What states does GAINSCO operate in?

GAINSCO, founded in 1978, specializes in minimum-limits personal auto coverage and actively distributes its nonstandard personal auto products through independent retail agents in Arizona, Florida, Georgia, New Mexico, Oklahoma, South Carolina, Tennessee, Texas, Utah, Virginia, Ohio and Alabama.

Is GAINSCO a progressive?

Progressive. As a non-standard provider, Gainsco is very different from Progressive.

Does GAINSCO have a grace period?

If the appropriate renewal payment is not paid and mailed (U.S. Postal Postmark) by the expiration date of the six-month policy term, coverage will expire on the final day (expiration date) of the current policy term (there is no grace period).

What states does gainsco operate in?

How do I contact GAINSCO insurance?

Call 1.866.GAINSCO or contact us by mail 41Years Business experience 17States Operating across the US 20K+ Agents By the end of 2021 Find affordable coverage in these states

Why choose GAINSCO Auto Insurance®?

GAINSCO Auto Insurance® specializes in minimum-limits personal auto insurance policies that are customizable to your needs. Call us and get a free quote!

How many agents does GAINSCO have?

17States Operating across the US 20K+ Agents By the end of 2021 Find affordable coverage in these states Find out why GAINSCO should be your insurance company Rachel Phillips Affordable and easy not to mention the representative I talked to, Chris, was very helpful.

Why does GAINSCO ask for my agent’s name?

Most GAINSCO policies are purchased through an independent insurance agent. By providing your agent’s name, we are able to quickly recover the documents and other information the agent has on file pertaining to your policy. This helps us get you back on the road faster.