Welcome to the farse that is car insurance. 3rd party minimum requirements I can understand but comprehensive is a waste of time unless your car has a market value of around the ?ú10,000 mark.
Insurance approved bodyshops always want to replace everything with new, and I suspect they get a percentage markup because they quote prices for parts which are undamaged on the assumption that their apes will break it off rather than remove it to do the repairs and paintwork.
As stated on the Off Topic thread of mine - an insurance approved bodyshop quoted ?ú3,500 to repair the scrape and small dent on my father's MX-5, and so it was declared a Total Loss. Strangely enough ?ú1800 bought a load of welding to repair rusty wheelarches, repair of the dent to an exceptional standard and a full, doors open respray.
Dejavu strikes again as I've been there before with my Rover. The people who do Vehicle Identity Checks at the VOSA office are starting to recognise me.
I'm sorry to hear about your employment and financial troubles, but in terms of pure finances, you've made the right choice IMO. You could have had market value for the car, but your premiums would go up for the next 3 years and you lose your excess. Insurance companies never lose out... You'd be able to buy the car back, sure, and I've done that once for my own car and now another time for my father's - but the car is then unsellable and thus worthless. That's something we're happy with but once you've sorted your Cougar (and it wont cost a great deal) you'll still be able to sell it on, HPI clear, if you really need the money further down the line.
You have my commisserations. I despise thieves.
What kind of wheelnuts are you missing? Is that why you're looking for Biff?