What should happen, if you have collision coverage, is that your insurance company writes you a check for the $5000 minus your deductible. If you want to buy the car back with a salvage title, you pay them a modest sum (in my case this spring, it would have been $700 to buy back my wrecked '90 Acura Integra). Then you have to either keep it garaged or get it fixed and re-inspected and re-registered. Not a bad deal if you want a parts car, if you have the space.
Robert W. Roe
1984 300SD 165,745 miles