Automobile Insurance — Not Filing a Claim
There is nothing which requires you to file a claim or report of possible loss to your insurance company, but there are ramifications for you not doing so.
If the other party sought legal action against you and you did not cooperate by notifying your company or cooperating in their defense of a claim, you could be found liable without any liability coverage from your insurance company. In other words, you could end up paying it out of pocket. Furthermore, whether you notify your company or not, if they do any type of a check on your driving record, your rates could be raised regardless.