Thomas Varey, 32, was behind the wheel when he lost control and ploughed into a lamppost and a line of trees in Doveridge.
Incredibly, Varey walked away from the wreckage unhurt after a passerby helped him out of the car following the crash, which took place at 11pm on May 7.
He left the scene and called police, claiming the car had been stolen from his home in the village at 9am that day.
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He also called his insurance company to try and make a claim for the vehicle following the incident.
However, a police investigation revealed forensics from the car which linked Varey to the crash and he was later arrested.
Varey, of Grove Lane, Doveridge, pleading guilty to failing to stop or report a collision when he appeared at Southern Derbyshire Magistrates' Court.
He was banned from driving for 12 months and given a six-month prison sentence, suspended for 12 months on December 20.
PC Abaid Hussain, of Derbyshire Police, said: "Varey showed a complete disregard for not only people’s safety, but also the law.
"He also made this all the more worse by lying and wasting police time by trying to dishonestly claim his car had been stolen and by trying to claim on his insurance.
"He will now have to face the consequences of his actions," PC Hussain added.