I was hit last year and it was not my fault, tell your insurance you want to change your mind and not claim through them but just make it "notification only". Then let the other sides insurance handle the repair for you. This way your insurance company will not need to get involved and next year your premium will not go up, you will have to declare the accident but then say it was notification only and no claim was made by you.
I did this and this year my premium went down 50 quid!