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Texas Transp. Code, Section 550.026 requires an immediate report of an accident if the vehicles involved are so damaged they cannot be driven safely or if someone is injured. If no one is hurt and the cars can be driven away from the scene, you do not have to contact the police. You are required to stop and exchange information with the other driver under Section 550.022, but you didn't have to file a police report. If you wound up driving away and the other driver did not report you, notifying the police typically would not benefit you.
Not unless they contact you.