I'm 18 have my own car (my name) and insurance (also in my name) I was driving home, and hydroplaned, hit the cement wall and guard rail on the highway. No passengers and no other vehicles were involved. The policeman that came didn't file a report, the damage isn't bad but I'm guessing its in the neighborhood of 2k. My car is being financed. I have full coverage insurance with a 1k deductible. My question is... 1. Am I legally obligated to report it? 2. If I repair the car myself will they find out and if so what are the consequences. 3. I'm freaking out and could use some help

Report to your insurance company?
It depends on what YOU want to do in terms of raised premiums vs. getting paid to fix the car. Most people find that it's cheaper to not report. The safe driver credit on my policy I think looks back 10 years. That's a lot of savings. Then there's the added premium just for making a claim. Who knows what your company does with under 25 drivers who file a claim.
You could call them and give a hypothetical to see how it will affect your rates. Each company is different, even though they are mostly similar across the board.

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Originally Posted by FuriousJordge

I'm 18 have my own car (my name) and insurance (also in my name) I was driving home, and hydroplaned, hit the cement wall and guard rail on the highway. No passengers and no other vehicles were involved. The policeman that came didn't file a report, the damage isn't bad but I'm guessing its in the neighborhood of 2k. My car is being financed. I have full coverage insurance with a 1k deductible. My question is...1. Am I legally obligated to report it? 2. If I repair the car myself will they find out and if so what are the consequences. 3. I'm freaking out and could use some help

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I suspect your purchase agreement with the finance company requires you to report it to your insurance company. Get an estimate first, so you will know how much damage you are talking about. And then file the claim.

Normally you don't have to report it as long as you just pay to fix it , out of your own pocket.
1. I am very surprised that the police officer did not do a report, they should have been required to do this. ( they did not have to give you a ticket) but they are required to write a report.

2. You don't have to report it to the insurance company but normally with your loan, you are obligated to fix it. I fixed my last small wreck out of my own pocket to keep the insurance company from raising my rate.

In the state where I worked for the highway administration, insurance companies are billed by the state for the cost of repairs to highway facilities damaged in accidents. If there had been damage to another individual's property, you would probably be responsible for repairs, and depending on the laws in your area, you may have responsibility for damage to the wall and guard rail.
In the state I referred to, the billing is initiated from police reports and follow-up by insurance companies.
I do not want to add to your problem, but I would report it to the insurance company if there was damage to government property.

I would read the loan papers and see what is required. Smearcase makes a great point - I am in NY (and don't know where you are) and the entity that owns and maintains the guardrail can and does bill the driver for the damages. Usually their repair cost is enough to make a person stagger!

If you DON'T report this and it ends up being a large amount your company can deny for your failure to report.

I am also surprised (no, I'm shocked) that the Police did not write a report when a guardrail was struck. What State?