What to write/sign for private settlement?

[gcg]

So I got rear-ended yesterday, not too big of a scratch though. To make things short, I already filed the report at collision centre and got the other driver's info. Called my insurance broker and she said from the photo that I took the other driver is 100% at fault and my insurance will not go up even if I file the claim. Now, I am planning to take the car to my body shop to get a quote on the repair. Then see if the other driver will agree to pay that amount (plus some *cough* *cough*, as I missed a few hrs of work because of this). Or we will go thru insurance if he doesnt agree to it.

So if he agree to settle this by privately in cash, do I need to have him sign something saying that we both agree to settle this and no further claim will be filed?

[Anonymouse]

Any such document would serve only to protect the person who ran into you. Why would you want to propose such a document?

Also, if there's any language in there about not reporting the collision to the insurance company, your ins co could cancel you immediately if it was brought to their attention.

So, don't propose anything and sign anything the perpetrator gives you only after careful consideration.

[gcg]

so i just take the money and leave? assuming he agrees to that, or else i'll just go thru insurance