You may not notice any changes if it is your first ticket. In fact, many states prohibit insurance carriers from raising rates because of one ticket and many have strict guidelines as to when and why your premiums can be changed. Whether or not your ticket will affect your premium also depends on the insurance company. Some consider the severity of each violation while others have specific amounts by which premiums are raised for certain types of violations.
For a car to be deemed totaled, the damage to the vehicle must exceed the actual cash value of your vehicle. The actual cash value is the amount it would cost to replace your vehicle, minus depreciation. If you owe more on your vehicle than the actual cash value and it becomes totaled, you are responsible for paying the balance of your loan.
GAP insurance is a special type of coverage that will pay the difference between the cash value of your vehicle and the balance of your loan or lease if your vehicle becomes totaled in an accident. In some cases, GAP insurance will also pay your insurance deductible.
This can vary according to your policy and the insurance agency. But, in most cases, anyone that drives your vehicle with your permission is covered by your insurance policy. There can be exceptions, however, so you need to check with your agent to be sure. Keep in mind that anyone living in your house that has a driver’s license must be listed on your policy. All of these listed individuals will be covered by your policy. If the licensed individuals have their own auto insurance, however, it is not necessary to list them on your policy.