Do you need to report to the insurance company if I am at fault?

Answer 1

RUN, don't walk, to your agent! The worst thing for you is to not report an at-fault accident and THEN the insurance company finds out from the other party who you hit. Having spent 23 years in the insurance field, I can tell you that your insurer is in a much better position to evaluate an accident and handle third parties than policyholders are. In addition, waiting puts you and your insurer in jeopardy of not handling the situation in the best, calmest, and most legal manner. B y that I refer to those situations where you may be tempted to have a handshake agreement with the third party to "pay for " their damages. How much will that be? Can you afford to pay "right now?" Will you get a properly-worded "release" from the third party so they cannot come back later against you for more money? In short, "Do it Yourself" claims handling is a bad idea and some folks simply don't know what they don't know. Please don't be one of them.