I think you would, as you will be paying extra for possibly up to 5 yrs to build up the no claims bonus again.
However, one word of warning, I got caught some years ago like this, I agreed to pay for the damage (small tip to door of parked car, parked dangerously mind you!) and did pay but other person also contacted their insurance company who contacted mine and they also paid out to fix numerous dents to car which I had nothing to do with. Obviously I bumped into a dishonest person however it's not unheard of these days. If you have already passed on your insurance details make sure before paying that an insurance claim has not been put in process already.