I was just in a car accident, what should I do?

It was my fault. I rear-ended a very nice lady who was driving a 1996 Dodge Caravan. My 06 Jeep Liberty is perfectly fine--but I definitly cracked her bumper. We exchanged insurance info, but did not call the police. We actually realized that I work with her sister-in-law. Anyway, should I call my insurance company and report it? Or should I just wait for her to call me with an estimate? If I report it, will the raise my insurance, even thought it was a minor accident? Also, will I have to pay a deductible before they give her a check for the damages?
Any serious advice would be great. Thanks!
Additional Details
Dude...Renee8008 ...chill out.... I hardly bumped her... and this is my first accident ever and I've been driving for 12 years...I was looking for advice..NOT attitude..
Thanks to everyone else that actually offered some ideas....

Luna & Lawnboy

She may have been nice then, but after she speaks with her friends and family, she might just develop a pain in the neck.

I suggest you report the loss to your insurance company. They will look out for your best interest and make sure she signs a proper release.

Your rates may go up, but this depends on your insurance company. Some offer first accident forgiveness. The increase will likely be less than the damage.

You do not have a deductible for property damage losses. The insurance will pay 100%.

John B

It will do no good to call the cops,you both have moved
the vehicles,they are only good for a report if you need
it to prove you are not at cause,but do call your insurance
company or they may not cover you,do this right away,
they will help you all they can and depending on your
policy it may go up,and it may not,no copay usually.

GEORGE F

i think first try to talk to her , and try to pay her for your fault depending on her estimate , but write down in that check in the memo : cover all damages for car accident . that means if after 6 month come back again to you and said that that there was another damage in the car you need to take care of it , you can tell her good luck , you already paid fro everything that time .all these depends on honesty no more no less .
good luck .

Renee8008

It is your responsibility to report it, when you got insurance it was known to you that there is always the possibility of an accident and a raise in the deductible, if you did not want to deal with this then I suggest drop your insurance and do not drive.

Think like a responsible adult and not about the money and be thankful that you did not kill someone, or injure her in the accident or you maybe paying a settlement off.

Leslie

it's not worth it to report it to the insurance...in fact sometimes they will even tell you that. it was just a fender bender. the bumper will probably be about $300. if you report it to the insurance, you have to pay the deductible and your insurance will go up. you will end up paying more that way. just make sure that you have pictures that way she can't accuse you of more. also, try to go with her to get estimates so she doesn't try to charge you extra. everything will be fine, but just make sure to have evidence for everything to prevent any other liability.

Daniel

if you don't want to get insurance involved just pay for her new bumber and maybe a little more just because she dint report you.

but if you do call insurance the will pay for a new bumber
but you rate will increase meaning you will have a higher bill

junkfood1

all ways call the cops

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