File insurance claim or fix it myself?

What's the prevailing wisdom on filing insurance claims for at-fault repairs? I've only filed claims before when my car was hit in a parking lot (that's my story and I'm sticking to it). In this case, it's clearly my fault and I don't want to commit insurance fraud, so my choices are 1.) Claim is and watch my rates increase or 2.) Pay for it out of pocket. Not fixing it is not an option.

My deductible is $500. I have no idea how much my insurance would increase, but it's pretty low already. I imagine the repairs would costs several thousand dollars.

Any advice? File the claim or just pay for it out-of-pocket?