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My '96 850 wagon (225k) got rear-ended today! 850 1996

Well, the good news is that no one was injured.
The bad news is that my baby volvo wagon is probably totaled... Heavy traffic on the Interstate today and I has to slow quickly from ~70mph to ~10mph while the car behind didn't. I noticed the quick approach in the rear view mirror and had started evasive action to the left when we got hit. The impact pushed us out into the median but luckily I did not impact the car in front of me!!
The impact compressed the bumper, pushed the tailgate up and jammed it. Closer inspection showed that the right side of the body is deformed. There is a "wave" in front of the rear passenger wheel well and that dore barely shuts. There is also a slight deformation of the roof. It appears to show a structural piece under the sheet metal... No broken glass and I was able to drive home (~80 miles).
I'll get estimates tomorrow or Monday but I'm thinking that repair will exceed Kelly Blue Book (Trade-In (good condition) $2275, private Party sell (good condition) $4205) and that I'm looking at a new V70.
Any advice from anyone? I haven't dealt w/insurance companies for a long time...
Any suggestions or '04 vs '05 V70s?
Milt






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