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The salvage value is probably pretty minimal, around a grand or so. You never know, though. It is generally negotiable based on resale value of other similar models in your general vicinity. Someone I know hit a deer in their nice 93 240. It was "totaled" (of course was hardly damaged) and the insurance company offered $4000, which the owner declined just because they asked if it was "acceptable". So... the insurance company went online with the owner and found two other 240s in the area, both 1993... and the LOWEST price was $7000.
So, he got $7k. And I personally know this person, this is not some urban legend. Better still he drove for 2+ years and bought the car for less than that in the first place. Not a bad deal!
In other words, make sure that they're giving you a good value and you can disagree with their offer; often easier still if it is a not-at-fault (varies by state) because of attached liability.
Watch the title status. Salvage is OK depending on how easy you can fix or get the car set up and inspected. Junk is NOT OK and you will be selling for parts. Most individuals do not understand distinction between junk/parts only, and 'salvage'. One can be reconstructed/retitled, the other can't ever be retitled.
As far as the frame being twisted, that is the case in most unit frame hits. I hear people say "my car got hit but there was no frame damage"... but just about every single hit needs frame alignment. That is how unit frame cars work and it is expected/typical.
Andrew in AL had some interesting information. The information may be accurate in that case, but the timeline is really out of whack for most states. The inspection process should be easy and quick, but the titling may take a little while. Illinois usually takes a while on title conversions for some stupid reason (Secretary of State is sloooooowwwww very often).
Most states have several levels of titles. For example, the state of Wisconsin (I pick WI because it is an extremely consumer-friendly state in terms of automobile purchasing) has a few levels. They are similar in other states and I've included some of the similar/typical names seen on other states' titles.
clear title (no brand/unrestricted)
Insurance claim paid (no restriction, just consumer alert)
Salvage (must be repaired and safety inspected prior to retitling)
Rebuilt/Reconstructed Salvage (has been inspected and may be titled as usual)
Junk/Unrebuildable/Parts (also known as Export Only in some states)
I might even be missing one or two of them. The bottom line is, if you receive a salvage title, you have to have the car inspected in most states, along with pictures and a parts list or receipts. The areas or places at which one has to get a car inspected vary by state, but most are fairly easily accessed. In WI, you set up an inspection appointment, take the car over, and then take the title to the DMV to get the "salvage" changed to "Rebuilt salvage" and that is that. It can be done at the title counter at any DOT service facility in WI (providing one would actually want to wait in line at one of those disaster areas).
Good luck.
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