I've been through it. I hit someone (or so the police say. I beg to differ, as did one of the 2 witnesses, but I digress). She faked injuries (my lawyer did research, and she has a history of pulling the "I'm injured" crap. She's been in more car accidents than average and fell down at public places several times too, all resulting in lawsuits), and even though I barely tapped her car, claimed I caused over $500,000 in damages and medical bills and whatnot. It figures that of all the 3 million people in the St. Louis area, I had to hit a thieving, lying, deceptive old bitch.
Anyways, I had to give a deposition as well. It was her lawyer, my lawyer and my brother who was in the car with me at the time of the accident. Both lawyers each asked me questions about the accident. Where I was coming from, where was I going. Why was I going where I was going. Was I drunk (she claimed I was...I wasn't. I didn't even drink at that time period. Had the police had any suspicion when they talked to me, they would've given me a sobriety test). Was I on the phone. Was I distracted. What do I remember, blah blah blah.
Long story short, our lawyers settled it. Not sure of the exact amount, but it's either at or under my policy limit, and my only out-of-pocket expenses during this whole ordeal was the gas to and from my lawyer's office. And, I suppose the insurance rate increase, which just went off my record last month. Yay.
I wouldn't be too nervous. Just be honest. And something my lawyer told me was to give as little detail as possible. When you can, just answer "yes" or "no". Your lawyer will advise you as to how to respond to the question, will object if a question seems unfair or whatever. Just listen to them and you'll do fine.