GAINSCO Rolls Out Monthly Auto Policy in Texas

November 15, 2007

GAINSCO Auto Insurance, which specializes in minimum-limits personal auto policies, announced it has introduced a new monthly auto policy for Texas customers. The new product, which provides a single month of personal auto coverage for the policyholder, can be renewed indefinitely with no reinstatement fee in the event of a lapse.

GAINSCO’s monthly policy allows agents to customize the coverage depending on individual customer needs, the company said. Starting with an affordable base policy, agents can offer additional optional coverages to meet the needs of all customers, from the most cost-conscious to the most coverage-conscious. Optional coverages include additional covered persons, authorized drivers, newly acquired automobiles, and physical damage for custom equipment.

The GAINSCO monthly product is also highly automated. Agency staff can handle the initial sale, policy renewals, and policy endorsements all on GAINSCO’s Web site.

GAINSCO developed the monthly product in response to agent and customer requests. Like its 6-month policies, GAINSCO’s monthly policy does not require credit scoring, and is available for liability or full coverage. Several discounts are also available.

GAINSCO will begin rolling out the monthly policy to a limited number of independent agents in Texas, with the rest of its agents to be rolled out in phases. The product will be offered in GAINSCO’s other state markets in the coming months.

Soruce: GAINSCO Inc.,

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