I had a similar accident when I was driving my parent's Accord back when I was 17. The damage was a little less severe but it still ran over $1200 to repair it. In your case, your best bet would be to hand over the $500 and get it repaired with OEM parts. It is really unfortunate to see anyone who cares about their car at all get into an accident, so my best advice would be to get everything back to normal and work on your driving skills/habits before you decide to upgrade to something more expensive. Chances are, if you get into another accident with upgraded parts, those parts won't be covered and you will end up at a large loss. Just my $.02