You only need to report it if you are expecting some compensation.,
We typically contact our insurance company and report the accident and the circumstances. That way the insurance company can pay the bills for you.Answerthe insurance company raises your rates and pay a deductable
When this happens, your Insurance company pays for damages. If the accident is your fault, your insurance rates can go up.
I can only speak for Florida because that is where I live and it is a no fault State. In Florida it really would make no difference to you if the other driver did not inform his insurance company of an accident. Really, you would only have to file a claim with your own company and contact his insurance company after the accident. I would just make sure you have the other drivers info so that you can contact them about the accident.
In order to know the answer to this, you would need to contact a custumer service representative at your insurance company.
If you haven't already, contact the company that insures the vehicle. There should be a card with the insurance contact info in the glove compartment; you must also contact the "vehicle management", whoever that is, at your company or agency. These things should be done at the time of or immediately after the accident.
If a leased vehicle is in an accident, the lessor has to notify the lease company, along with their insurance company. Sometime the lease company will have you go through your insurance for repairs, other times they send you to their repair shop (if they have one).
You call your insurance company and report it. if the accident is your fault, with very minor damage, you would be better off paying for the damages yourself, rather than telling your insurance company and having your rates go up.
Many health insurance companies offer what is called "Pay and Chase". Meaning, your health insurance company will pay your hospital claims and chase the automotive insurance for the rest of the money. It is possible that you may have this type of plan. If that is not a possibility to you, you could entertain the possibility of legal action. It might be far less costly and stressful to contact your insurance company first.
no insurance + jail
The insurance company is not liable to pay out any damages that were caused in the accident and they cancel your policy. This means that the driver bears the full financial burden for the costs of the accident.
If its only with your insurance company, generally, nothing. If you are speaking of a court action you have filed, you will have to withdraw it from the court's docket.