A car dealer in Kent, a county in southeast England, told the Mirror newspaper that he was struck as a pedestrian on Sunday by a modest Fiat Ducato van - which had the former Ferrari racer at the wheel.
The dealer said Schumacher, who was on his way to a private jet at a nearby airfield, was overtaking a slower vehicle at the time.
"(Schumacher) was screaming, 'What the fuc*ing hell were you doing on the road?' He seemed cross, as if I was in the wrong. I called the police."
The police breath-tested and questioned Schumacher, but at first did not believe the 39-year-old German was actually the legendary winner of 91 grands prix.
The dealer, who said his worst injury was a bruised leg, explained: "An officer came in and said 'This guy's claiming to be Michael Schumacher'. Then another told us she'd seen his id and it was him.
"He still didn't apologise. He just got back in the van and drove off without even looking at me. He was arrogant."
Schumacher's spokeswoman Sabine Kehm said: "There was a collision but nobody was injured. Michael cooperated with police. There is nothing else we wish to say."
Kent Police said no further action will be taken.