Editor's note: This article first appeared onCarInsurance.com and is reprinted here with their permission. Clickhere for the original post.

After a serious accident, car insurance is a financiallifesaver, whether you face mounting medical bills or major carrepairs.

But after a minor fender-bender, some drivers prefer to leaveinsurance companies out of it and instead work something out withone another.

Generally you must notify the insurer promptly about how, whenand where an accident occurred if you want the company to coveryour losses. But you're not legally required to file a claim andtell your insurer about every ding and dent.

The circumstances have to be just right, though, to go it alonewithout insurance and end up with an arrangement that satisfieseveryone involved.

No matter what, exchange insurance information at the scene ofthe accident even if you think you want to handle things on yourown. That way you have the information in case the other driverdoesn't return your calls the next day and you decide to file aninsurance claim after all.

Above are 5 signs you might consider settling an accidentwithout car insurance, followed by 5 signs to steer clear of aprivate settlement.