Do I need to inform insurer, if I have had paid to the third party for the damage?

[Chris]

I have had a minor accident this morning and I damaged the other car. We both agreed that I will pay for him to get his car repaired without going to the insurers? But I am concerned what if he still makes a claim later? I was not even sure if it was my fault at that moment. I wanted to resolve the matter quickly as I was going to the office. Also do I need to inform my insurer about this (that I had already paid the other party). Can someone please advise?

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[Rahul]

I have had a minor accident this morning and I damaged the other car. We both agreed that I will pay for him to get his car repaired without going to the insurers? But I am concerned what if he still makes a claim later? I was not even sure if it was my fault at that moment. I wanted to resolve the matter quickly as I was going to the office. Also do I need to inform my insurer about this (that I had already paid the other party). Can someone please advise?

The insurance company has right to know this if you have accepted any liability without informing them.

[Chris]

The insurance company has right to know this if you have accepted any liability without informing them.

I have not accepted any liability? I have just paid for his damage.

[Rahul]

I have not accepted any liability? I have just paid for his damage.

But you have accepted that you were at fault at the time of accident and offered/paid the amount in lieu of going to the insurer. And this is not documented anywhere, if that driver (third party) go to his insurer, what proof you have to show that this was agreed between you and him.

So when ever you are doing any such activity, always inform your insurer (also take insurer opinion).

[nishurai]

As far as I know, you have to let them know about any of the repairs done.

[Georgeliare]

I recently came across this case study and it got me thinking about the importance of ensuring a smooth transition of car insurance when selling a vehicle. It's crucial to inform your insurer about the change in ownership to avoid any complications in the future. But what about the scenario where you have already paid the third party for damages before informing your insurer? Should you still inform them, or is it better to handle the situation on your own?