Accident: insurance or pocket money?
I got into an accident 2 days ago. It was purely my fault, no other party involved. I punched the throttle too early while exiting a right turn, understeered, and ran into a dirt wall. Almost all of the damage is located at the front driver's side, where I bent a control arm, popped a tire, scuffed (not bent) a wheel, scratched (no dents) the front bumper, fender, and both doors (again, on the driver's side). As far as I can tell, that's all the damage. I didn't want to get insurance involved at first, especially since I'm young (20), but if they pay for all the damages as well as labor (control arm install, mounting/balancing tires, alignment, paint), it might be worth the $500 deductible. The thing I'm worried about is my premium going up. I know not much can be said without knowing specifics, but do you guys think it'd be worth it to bring insurance into the picture?
Fyi I already have a set of tires lying around, as well as a pair of aluminum control arms I bought just yesterday. I'm capable of installing the control arms myself, so I could save some money there. I also might be able to get the bumper, fender, and doors painted for $100 each (group buy on nasioc). Keeping all that in mind, I'd probably end up with a lot of leftover cash from insurance, which I could use for other stuff... Thoughts?