Got the news
The inusrance company declaired it a complete loss. I now have 2 options:
1) Accept the loss and they cut me a check for $8,500.
2) Accept the loss, and keep the car... check for about $6,000.
The problem with the second option is, that if I accept the car back, I lose all coverage except liability. So, the next time someone smashes my windshield, rear-ends me or I skid off into a tree, I'm 100% responsible financially to cover it. The only thing insurance will do is cover me if I get sued or injured in an accident.
So what I decided to do since I have a few days to decide, was to pay the mechanic out of pocket to do a complete inspection (since the insurance company only gave him 4 hours to look around for the estimate) and see exactly how bad things are. Water did come out of the motor when he unscrewed the spark plugs, but he says in HIS opinion that it probably is just a bent pushrod or two, worst case scenario connecting rod damage. In which case my $6k will be more then enough to cover parts and labor, probably walk away with $1k in spending cash to fix everything else... fluid change, hoses wires etc all around, and get the interior profesisonally washed to get rid of any fungis or smell that is bound to be in there now.
Right now I'm pretty confident that I can get my car back, but i'm scared about losing that coverage with the insurance company. they said that i wont have a salvage title since my car is old enough not to require one (1996) but they COULD not tell me if i switched companies if i could regain coverage...for obvious reasons. so i have to find out ASAP if i switch insurance if they will cover me or not.
the other bad thing is that my insurance is under my parants policy, and they have homeowners under the same company and have had so for decades... so my rate and coverage is amazing. I have a $250 total deductable, roadside, rental car, and they have paid off before. i got sued for $400,000 a few years ago in an accident and i didnt pay a dime for it.
advise, opinions are surely appreciated... right now i have an appointment with a half gallon jug of 92 proof navy rum, i'll check up later.