Thanks everyone for the responses. And varlo, that is the best advice. As much as im not a fan of lawyers and being all sue-happy..im less of a fan of insurance companies who ask for more than theyll ever give out.
I took a look at a 71' Dodge Demon today, and shook hands on a deal with the owner...I should be going to pick it up, sign the title, and hand some money over on Friday!