Oooh, that looks like pretty nasty run there, but good to know you and your friend were oright.
About scrapping the car, I think the car just has sustained repairable damage as well. From the picture, it looks like just half shaft, control arm, or ball joint might need replacement, a damage of about $400 to $500, which the insurance company should cover up.
I had similar incident with my car, some A-hole truck driver came from no where and my brother who was driving the car at that moment had to hit the side curve to avoid the truck. Thank God he was oright.
The half shaft, control arm broke and the Rim was bent while the wheel assembly came out. The damage was all fixed under $500.
