At fault single car accident, what should i do?

Question

It was raining crazy yesterday and I hydroplaned into a curb going about 45-50. I heard a loud bang on my front and rear driver side tires. I stopped and looked at my wheels and didn't notice any damage at first... it's was raining heavily and dark out. This morning I realized both wheels are cracked and they wobble. I also hear some creeking when turning the steering wheel. I have full coverage and a 500.00 deductible. Can I report the claim with my insurance company without having reporting it immediately when it happened? Will GEICO cover the damage? The repairs will far exceed the 500.00 ded. Help.. I don't want to call them and be penalized for telling the truth.

Answer 1

Yes, report it ASAP, they should cover the damages (less your deductible)  The last thing to worry about now  is "IF" your rates "MAY" go up.

Answer 2

Penalized isn't the exact word, yet your premiums will be affected due to an 'at fault' accident.  Yet your insurance coverage should handle it with collision coverage.

Just call, you pay a premium each month/year for the coverage.

Answer 3

You can report the accident at any time.  You will probably be surcharged for an accident though later on.