Yes. But it is under your deductible? Yes, the policy still requires you to report it. But, the other person said they were not hurt and I want to pay for their damages? Yes, you still have to report it, according to the policy.
Your insurance policy is tricky. It does not say that you only have to report any claim that is covered and over your deductible. Instead, it says report any claim. Most insurance policies in the “Duties After Loss” section, say you have to “Give us notice as soon as is practical….” Nowhere in there does it say that you have to give us notice if you want to, if it is covered, or if it is a lot of damage.
Why do they do this? Simple. If you have a claim, you are more likely to have another claim. This justifies them to raise your rates or cancel you. If you have several claims, you most likely will be cancelled – regardless of whether the claims are covered!
What happens if you do not report a claim? Potentially they deny your claim. Imagine if you are in a fender bender and you dont report it. You dont think much of it, but the other person has a bad heart. Two days later they die. The doctor says its because of the accident. You still dont report it to your insurance company. Then you get sued 18 months later. Your insurance company could deny the claim.
Moral: You SHOULD report every claim. No one actually does, but that is what your policy says.