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I think, as long as your neighbour is a witness and ICBC sees the damage on the other car which ICBC will take care of. Have you called ICBC Dial-a-Claim? If not you better do it now. Be sure to have your neighbour's contact info, plate number of the other car and of course your own info blah blah blah
Generally, police will take photos of both cars, a few lines of writing in the report, both parties being told to deal with icbc and sometimes, depending on the circumstances, a Fail To Remain at the Scene of an Accident ticket. Make sure you and your neighbour have written everything down, including date and time that its written. And anything remembered in the following days is also written down with date and time its written. Posted via RS Mobile
Exact same thing happened to me, when I was 17, only I was the one that ran.
Happened in a public parking lot, was parking, backed up into an Integra. Was writing a note saying I hit him and stuff, my "buddy" with me said lets take off. At 17 years old one's judgment probably isn't at its peak, and being first accident and all, I took off.
3 days later, 7:30am, VPD calls my house and my mom picked up. Asks if she was at that location. She sais no, maybe my son. I get the phone. As soon as VPD asks me, I confess everything to fine detail. There was a witness there, just like your case.
Long story short, I took it in to ICBC (Had to go to the Cambie one because there's a police station attached to it) - got damage estimate, paint matched with other car, etc. The police officer that was there was the one that called me house, asked me if I had anything to say. Told her it was lapse in judgment, and that I'd like to apologize to the other driver. Not my finest hour.
I wasn't charged or convicted, because the other driver decided not to according to the officer. My mom's insurance went up because it was an at-fault accident. I think the hit-and-run part was not counted because I was a minor at the time as well.
For those who are curious, my parents didn't talk to me for 2 weeks, I lost driving privileges for a little over a year, and I had to pay back whatever it cost my mom in insurance. Brings back memories actually haha.
Your witness will be integral in this, so make sure you have all information available.
You will have to pay deductible and get reimbursed, if you want to fix your car right away. You can wait until the investigation is over if you don't want to pay.
As for charges, it depends. I wasn't, but I was very lucky.
Police will most likely visit. Especially if he denies it.