Do yourself a favor and have the chip repaired. There are places whose only business is repairing these chips (Novus comes to mind) and in all likelihood your insurance company will pay for it 100%, no deductible, because it will save them hundreds of dollars later on when the chip turns into a crack.

Unfortunately, I spoke to the insurance company about this soon after the chip appeared. Can you guess why it's still there? They won't pay for repairing the chip or replacing the windshield, when the time comes. Either procedure will be paid for out of pocket by me, when I get around to it.