What next to be done on in case if booked under section 279 and 337

While I was going driving my car along with my family. a two wheeler who was driving on my left suddenly turned right to take a u turn. He came in front of my vehicle and I stopped my car. In the process the car hit the motorcycle on the pillion side. The pillion rider got fracture injury in one leg and one hand. The bike rider had minor injuries. The bike is also damaged. My vehicle also got damaged on the front side. I called 108 ambulance and arranged to send him to hospital. Then informed E9 thazhambur police station and handed over the vehicle for further proceedings. Based on the biker complaint, police made FIR on me, under ipc section 279 and 337. Called me to police station, sent me on bail and released the vehicle. He says I may be punished with a fine. My question is is this serious and is only fine generally imposed? Whether a lawyer should be engaged? If we contest how long the case may go? What should be my next best action? I have a valid full insurance for my vehicl