Welcome to the forum mimie.
You do not have to pay that much, the problem if to settle on a brand with some support.
65 USD will get you a Blueskysea B2K on Amazon, the brand have people active in here too
This is just a single front camera for the windscreen, but it will log everything you do with your car just fine, and so claims of you running red lights or changing lanes when you did not are easy to fight.
And in the case of your hit and run you might be lucky to capture the plate, though it is always best to see it yourself and call it out for the microphone to record, cuz it is far from sure a plate will be captured.
You can spend more and get a 2 channel system and so also have a camera in the rear window, it is recommended but not a absolute must have.
Hit and run events will always be hard to deal with for a dashcam not least if it is dark as that significant lower the chance of a plate capture at speed.