Decisions, decisions. If you can get it fixed for under a thousand, then I wouldn't report it to your insurance company. Now, the problem is coming up with the thousand, but if you have a 500 deductible, then half of your money is already spent. Either drive it like it is and wait until you have the amount to repair it, or just keep driving it like it is. I don't like doing that to a Mustang though. I'll bust my ass to get the money to pay for the damage.