IMO this will be treated as two separate things
The legality of her road conduct, leave it to the police to dole out punishment or not. I dont think your wrong to report her on that.. she caused an accident through her actions and drove off in complete ignorance of the costs to you, the fact that she didnt give details afterwards and tried to blame you demonstrates that enough. If she only gets a warning then at least if she causes a more serious accident in future then she will be less likely to weasil out of it with some BS excuse.
Then there is recovery of the cost of the damage, I presume now you have her details so I would contact her and advise that you have a price for the repair of the wheel. Advise her of the cost and offer her the choice of going through insurance or not. Considering the low cost of it.. I imagine she will want to avoid using insurance as her best hope is to get 50/50 and loose her no claims also. Its highly unlikely that she will do that just to spite you and if she does push for that route then you dont necessarily have to log the claim, you still have the option of just paying for the damage rather than paying excess+loss of NCD
Ofc if she admits fault to the first part, you have a stronger case for her paying up for the second but either way I would avoid using the insurance companies, I realise there are alot of whiter than white people here claiming that even if you dont claim you should inform the insurance companies, I dont see that.. if you dont claim then your a better customer than one that does and you shouldnt be penalised for it. And its not really anything compared to the masses of people who lie and put an older named driver on their policy just to knock off a few hundred quid when its just outright dishonest