My son was involved in an accident and cited for failing to yield while making a left hand turn; the other driver was cited for speeding. I filed a claim with our insurance company, Geico, but have not followed up. The insurance company of the other driver has NOT been notified. Geico said that my son is considered 40% at fault and the other driver is 60% at fault. We, and the other driver who is 18, want to retract the claim and cut our losses. My son would be out about $4000.00 for his vehicle. Geico says that we can drop the claim, but will the fact that they know about the claim raise our insurance rates anyway?