When can parties involved in a traffic accident exchange information?

The correct option indicates that parties involved in a traffic accident can exchange information when the damage is $1500 or less. This is significant because, under certain conditions and particularly in less severe accidents, the law allows for a streamlined process where drivers can share their information without needing police involvement. This promotes efficiency and helps resolve minor incidents without unnecessary delays.

In practical terms, when damages are minor, it can often be resolved on-site by swapping insurance details and contact information, making it easier for both parties to manage their claims. It encourages cooperative behavior between drivers involved in minor accidents and helps alleviate congestion around accident scenes where police might otherwise be required for documentation.

The other scenarios – such as needing injuries to be reported or only handling information exchange after police arrival – are more restrictive and can hinder the quick resolution of minor traffic incidents. Thus, recognizing the $1500 threshold as an appropriate guideline for when information exchange can occur is vital for understanding traffic accident protocols.