Avoid insurance if possible, in the case of the other driver not claiming, even if they did i would still avoid claiming. it all adds up to raising your insurance to an insane amount as a new driver plus females no longer get cheaper car insurance as that was deemed sexist towards men (I welcome this idea tbh)
This will be added to your dvla and insurance groups record and be used for the next 4 years, this alone increase your quote a lot. Claiming will also be added to your record if you claim... second reason for insurance increase, all on top of being a new driver, not only are you already classed as a higher risk driver being new, (After 6 months of passing insurance company class new drivers at higher risk than normal as they are most likely to an have accident after 6 months based on being more road confident) the accident record will class you as an even higher risk driver.
Visit moneysupermarket.com or gocompare.com do a mock insurance quote for your self excluding recent invents, note the price, then do a quote adding the information of being involve in an inccident within the last 4 years and note the price, then do the same with the above including 1 claim... you may S**** bricks
Do a rough estimate of your car repairs and compare it to the additional cost of increased insurance to better judge your odds.
On the subject of what to do with the car, lenny idea is spot on