Finally got a look at it in the light during lunch and it is not near as bad as I thought. The bumper has some marks from his tire on it that should come off and maybe some small scrapes and the rear fender is only bent in about 1 or 2 centimeters and the paint looks like it is intact. Damage should not be bad at all. I am considering just dropping the claim with my insurance company since the repairs might cost less than 500 bucks anyways. Mark, I will send you some pics when I get a chance (probably wednesday afternoon) to see what you think.
Sounds good… even if it is under $500… just keep the receipt and if his insurance for some reason does admit fault, they will reimburse you for the amount you paid.