There is a very high probability that the buy back will be greater than it is worth IF you are having a shop perform the work. If you are performing the work it MIGHT be worth it to pass on the 11.7k + gear (another 1k?).
Granted, the "real" damage may be very minimal, the cost to fix it is going to be >4k if the tanks are messed up (even just scratched) if taking it to a shop.
Wait until it makes it to the insurance auction then buy it