I would recommend having the other driver get an estimate first. This way, you can decide if the repair costs are affordable enough to pay for the damage yourself. If the repair costs are not feasible for you to pay on your own then you would need to file a claim with your insurance company. And while it is a good idea to file an insurance claim as quickly as possible after an accident, you won't be in any trouble if you wait for an estimate. In fact, drivers in Mississippi
actually have up to 3 years
to seek compensation for an accident. If you end up having to file a claim and your parent's rates increase, we always recommend shopping with as many companies as possible
to find their best option.