i had a 240 (actually two) that was rear ended much worse than that. i chose to buy it back, the usual price is .10 on the dollar of book value. be sure to negotiate with the adjuster... it is his job to settle for as little as possible. you can use sales prices to justify your value. the reason it is totalled, i would guess is that the big rectangular tube that goes from the bumper shock mount to the inner fender area is buckled causing the two dimples on the outside skin. to correct all that and get it perfect is dicy for a body shop. i chose to take it to a frame shop and told them to make it safe and so that water couldnt leak in and the trunk seal and not to worry about the small wrinkles. the car was being driven by my college age daughter. after that repair the car was paid for and basicly free to us. not a bad thing if you have youngsters driving. you might want to do something similar if cosmetics are not your highest priority.
the plus is that its your car and you know what has been repaired and what has not... and thats worth a lot.
the other car was repaired cosmetically too. i got past the repair price by providing some of the parts that i happened to have on hand.

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[SIGPIC] Diesel loving autocrossing grandpa Architect. 08 Dodge 3/4 ton with Cummins & six speed; I have had about 35 benzes. I have a 39 Studebaker Coupe Express pickup in which I have had installed a 617 turbo and a five speed manual.[SIGPIC]

..I also have a 427 Cobra replica with an aluminum chassis.