Auto Insurance Claims: claim withdrawal, insurance companies, grocery store

Question
I bumped a car on the parking lot of a grocery store. I believe it was 50- 50 fault because both drivers were trying to to get out of parking spot. his car was slightly damaged. we reported the accident, damged was probably 250.00. my deductible is 500. I been trying to negotiate with the other party. Can we withdraw the claim if we settle ourselves. how can i do it? and if we withdraw our rates will change because it was reported?

Answer
Hi Enrique,
Most states set a limit of at least $500 damage that was your fault before they consider the claim 'chargable', which would raise your rate.
Yes, you can each notify your insurance companies that you wish to withdraw the claim and there should not be any impact on either of your rate.
Bennie