Do Both Parties Need to Report to Insurance After a Car Accident?

[LawsonLynn]

In a traffic accident where the other party is fully at fault, you do not need to report to your insurance company. Compensation will be covered by the third-party liability insurance purchased by the other party. Once it is confirmed that the other party is entirely at fault, you can call your insurance company to withdraw the claim. If both parties consider the losses minor: Filing a claim with the insurance company may be too troublesome, and both parties may be willing to forgo the insurance compensation. In this case, they can negotiate the compensation amount. Once both parties agree, the compensation can be paid, and the agreement should be noted in the traffic accident record document. If an agreement cannot be reached, the matter can be resolved through the insurance company or the People's Court. If both parties have participated in the compulsory motor vehicle traffic accident liability insurance: If they are unwilling to forgo the insurance compensation, they should immediately report the accident to their respective insurance companies and file a claim with them.