Your premium may not be increased if

the damage is less than $2,000, and the ticket can be converted to a parking ticket. Here is why:

Assume that the damage is $2,000, after your deduction insurance company will only pay $750, which is possibly below the loss limit for increasing premium.

My insurance policy states the premium will not be increased if the loss (i.e., the payout by the insurance company) is less than $1,050.