Does insurance company know my police report?

It is a requirement that you report any car accident to your insurance company.

This is needed as you can never tell when your other party can always come back with a claim eg i have a neck injury resulting from that accident and i need to be paid.

So go to your insurance company and tell them that the other party wants to pay for the damages.

Otherwise you risk the cancellation of your policy or a future court settlement way beyond your expectations.

Maybe not because you did not report the accident to the DMV.

However, you should not allow this person to pay for your damages. You should report it and go through the insurance company. That is for 2 reasons. One is it is not your fault. The other reason is that if you take payment from this person and have a problem later, good luck on getting them to pay you any more money. And because you took money from them the insurance company is off the hook. You accepted settlement so the insurance company will no longer help you.

Think about what is right for you. Taking money can get you screwed later.

Well, the insurance company will not be notified by the police department directly, but they will file it with your state department of motor vehicles. Generally, what happens is that DMV will want an explanation of what has happened. They might send you a letter requesting this, and if you live in the state of CA, you will have to provide an explanation. Its called filing an SR1, which also proves that you had insurance at the time of your accident.

If you dont, then the insurance company will be notified at the time of your renewal that there was a loss filed with the police department, and they will want an explanation. Its basically just to avoid any hassles.

i in my opinion like somebody else's answer and that i completely agree. insurance companies do unlike take police checklist counsel in stone. on occasion they are completely incorrect. insurance companies seem on the wear to each and all of the automobiles and then be certain what as a rely of actuality. Witnesses on occasion help, yet not constantly. many times the reality comes out via looking the wear to the two automobiles.

Yes they will