He lied about what happened

[lei111]

What is the name of your state? TX

The accident has been a number of months and I wonder if it's worthwhile pursuing. I was waiting at a yield sign and a car hit us from behind. I didn't get any witness (my lesson here) though I had his insurance info and contacted his insurance company the next day. After a week or two his insurance company came back and said he said it's me who backed up and hit him. I was told I could go to arbitration. A body shop estimated the cost to repair the small ding on the rear bumper to be $6xx.

My questions are: is it worthwhile pursuing for arbitration? I haven't told my insurance company about it, will it help to let them know? (I had conserns about them raising my premium.) Also if I switch insurance company, is it still ok to contact my current insurance company for that later? I just don't feel good about he lied and got away with it.

Thanks a bunch in advance.

[ecmst12]

Report it to your insurance company if you like. The accident was not your fault. However in cases of word vs word with no police report or witnesses, what often ends up happening is your insurance pays for your damage and denies the other person's, and his insurance will do the same.

[lei111]

There's actually no damage to his car. So it's ok to report to my insurance company even if I switch to another? I heard I have to report within a year, right? I was also told if it's below $750 then there wouldn't be any impact on my premium. Is it true? (I had one $1000+ claim couple of years ago and my premium was raised.)

Thanks a lot!

[ecmst12]

You should report all accidents as soon as possible. The longer you wait, the more difficult it will be for them to investigate. I don't know how your premium will be affected, only that you shouldn't be charged with an at-fault accident.