Does Gainsco Have a Grace Period For Missed Payments?

Gainsco offers grace periods for missed payments in some states. Policyholders can check their policy documents for more details.
Written by Jaya Anandjit
Edited by Sarah Gray
Gainsco auto insurance does not offer a general grace period for late payments. Depending on the state you live in, you may have a grace period to make a payment and keep your insurance policy active, after which your policy could be canceled for non-payment. 

Does Gainsco have a grace period or late payments?

Gainsco does not offer a grace period for all policies. Instead, policyholders are entitled to grace periods based on their state’s laws. 
  • Where to look: Any grace period you’re entitled to will be indicated in your Gainsco policy documents, along with any fees or surcharges you’ll owe for late payments. 
  • The process: Most states require insurance companies to notify customers of cancellations ahead of time, so you will receive a notice of cancellation—including the length of your grace period—as a warning before your policy is canceled. 
  • The timeline: In some states, notices must be sent as early as 30 days ahead of cancellation. You will have until the effective date listed on the notice to make your payment and avoid a coverage lapse.
Keep in mind: If you do not make your payment by the cancellation date, you’ll have a lapse in coverage. This means you won’t have insurance protection when driving your vehicle, and your rates could go up when you reinstate your policy or purchase a new insurance plan.

Does Gainsco accept late payments?

Gainsco accepts late payments in most states, but you will likely run into a late fee. 

What if I get into an accident with a missed payment? 

If your state requires grace periods for late auto insurance payments, you will be covered by your Gainsco policy if you get into an accident during your grace period.
When you miss your payment, Gainsco will send you a notice of cancellation with a final payment due date to the mailing address they have on file. Your policy and coverage will be active until the due date, but if you don’t pay your premium before the deadline, you will lose your auto insurance coverage.
Pro Tip: If you are running late on a car insurance payment, reach out to your insurance agent or contact Gainsco’s customer service team to confirm the state of your policy. Understanding your policy’s limits after a missed payment can help you avoid driving without insurance and save you from the out-of-pocket costs associated with an uninsured accident. 

If you missed your Gainsco payment

If you missed your Gainsco automobile insurance payment due date, you will be able to make a late payment if your policy outlines a grace period. You may be charged extra fees, but your policy will remain active. 
You can use any of the following payment methods to fulfill your late premium:
  • Pay online: Verify your account through Gainsco’s online payment portal to make a payment using a credit card, debit card, or check. 
  • By phone: Call Gainsco at 1-866-424-6726 to process your payment with a credit card. 
  • Visit your insurance agent: Pay with cash, debit card, credit card, or check at your local insurance agent’s office.
To avoid a coverage lapse, be sure to process your payment before the expiration date listed on your cancellation notice. Even if you’re a day late, your Gainsco car insurance policy could be canceled.
Pro Tip: Avoid future missed payments and a potential coverage lapse with payment reminders. For example, the Jerry app includes a payment reminder function that notifies you when your payment date is coming up and helps you prepare for the expense.

What if I’m enrolled in autopay?

If you’re enrolled in autopay and miss a Gainsco insurance payment due to a low bank balance or a change to your billing information, log into your Gainsco account or connect with a Gainsco insurance agent to update your financial details.
Will a missed payment affect my credit score?
Typically, if you pay your car insurance premium before your final due date, you won’t see any changes to your credit score. With this said, if you don’t pay your bill and Gainsco sends it to a debt collection agency, you could see it on your credit report, and your credit score could take a hit. Ensure that you pay off your premium to dodge a lower credit score and
higher insurance rates

If Gainsco cancels your policy

If you are unable to pay your car insurance bill before the final date outlined on your cancellation notice, Gainsco will cancel your insurance policy. To avoid
a coverage lapse
, a potential driver’s license suspension, and higher car insurance rates, it’s wise to reach out to your insurance agent to reactivate your coverage.
Contact Gainsco and ask your insurance agent if they can reinstate your policy. You may be able to make a payment to regain your coverage, but in most cases, you’ll need to pay a higher rate due to your lapse in coverage.
If Gainsco denies your reinstatement request or offers you a much higher rate to reactivate your coverage, your best option is to shop around and find same-day coverage from a new car insurance company. Compare quotes from various different providers and consider
smaller companies
and carriers that specialize in
insurance for high-risk drivers
app screenshot
Comparison shopping is the best way to secure a lower rate for your car insurance coverage.
app is a great resource for assessing your coverage and rate options from different insurance providers in one place.
For each quote, Jerry will show you how much it costs to activate your policy, and you can typically find same-day coverage.

If you’re having trouble making payments

If your Gainsco car insurance rate is too high to keep up with, there are a couple things you can do to sustain your coverage and prevent a coverage lapse.
Postpone your payments
If you are on a monthly payment plan, contact your Gainsco insurance agent and inform them that you may not be able to make your upcoming payment on time. They may be able to extend your premium due date and give you more time to make the payment. 
Shop for a lower rate
There’s a chance that other insurance companies may offer you a lower rate than your current Gainsco premiums. Seeking
car insurance quotes
from at least three to five different insurance providers can help you find a more affordable policy for your coverage needs.
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What happens if you don’t pay your Gainsco insurance? 

If you do not pay your Gainsco insurance, your policy may get canceled. Gainsco offers grace periods for late payments in some states, but otherwise, policyholders are responsible for paying their premiums on time to avoid a coverage cancellation. 
To determine whether or not you have a grace period for late car insurance payments, you can review your policy details or call Gainsco at 1-866-GAINSCO (1-866-424-6726) to discuss your options with an insurance agent or customer service representative. 

What is the penalty for canceling Gainsco car insurance?

Depending on the state you live in, you may be charged a cancellation fee and administrative fees for canceling your Gainsco car insurance. Additionally, if you cancel your insurance without setting up a new policy, you could be penalized by your state’s Department of Motor Vehicles for driving uninsured. 

How can I make a late payment to Gainsco?

Gainsco policyholders can process a late payment in the same fashion as a regular payment: 
  • Pay online: Use your account details to access Gainsco’s online payment portal and make a payment using a credit card, debit card, or check. 
  • By phone: Call Gainsco at 1-866-424-6726 to process your payment with a credit card. 
  • Visit your insurance agent: Pay with cash, debit card, credit card, or check at your local insurance agent’s office.

What is Gainsco’s grace period for late payments?

Gainsco does not have a general grace period for late payments across all policies. Instead, policyholders are typically granted a grace period in states where they are legally mandated. You can find out more about your specific grace period for late car insurance payments by reviewing your policy details or speaking with an insurance agent. 

How can I enroll in autopay with Gainsco?

Gainsco offers autopay for monthly premiums. You can pay using a check, credit card, or debit card. To set up autopay, you can reach out to a customer service representative by phone (call 1-866-424-6726).

Will my Gainsco insurance cover an at-fault accident if I miss a payment? 

If you miss your Gainsco car insurance payment, you will still have coverage for a certain amount of time before your policy is canceled. Gainsco will send you a late payment notice with a grace period to make your payment before a final date, or they will send you a cancellation notice with a payment deadline before your policy is canceled. 
During your grace period or cancellation notice period, your coverage—including but not limited to liability coverage, comprehensive and collision coverage if you have full coverage, and medical payments coverage or PIP—will stay active, and you will be able to file claims for damage coverage. 

Does Gainsco offer an auto-pay discount?

Yes, Gainsco offers an auto-pay discount for drivers who enroll in auto-pay to keep up with their policy payments. Your auto-pay discount can be stacked with prior coverage discounts, like a homeowner discount or a bundling discount, for an overall lower car insurance rate. 

Will I have liability coverage during my Gainsco grace period?

Yes, you will have bodily injury liability coverage and property damage liability coverage for during your Gainsco grace period. Your policy will remain active during your grace period, and you will not be at risk of a policy cancellation if you pay your premium before the due date outlined on your grace period or late payment notice. 

Will I have property damage coverage during my Gainsco grace period?

If you have comprehensive and collision coverage on your car insurance policy, you will have physical damage coverage—minus your deductible—for damages to your vehicle resulting from fire, theft, accidents, and more. 

Will I be covered by my family member’s Gainsco insurance if they were late to make a payment?

If you are a named driver on your family member’s Gainsco insurance policy, you will be covered when driving their vehicle as long as their Gainsco policy is active. 
Depending on your state, your family member will receive a late payment notice or a cancellation notice that outlines a deadline for their late payment before their policy is officially canceled. Before the final payment due date, your family member and their vehicle will be covered, so you will be covered when driving the car unless you are an excluded driver on their policy. 

Why might Gainsco cancel my policy?

Gainsco may cancel your policy if you exemplify unacceptable risks. Risky behavior includes a history of multiple late payments, material misrepresentation, a DUI conviction, or if your driver's license is suspended or revoked. Your policy may be canceled mid-term, or your insurer may refuse to renew your coverage at the end of your policy’s term.

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