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Damage to rear panel does anyone know how severe it is and how much it will cost??

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I had similar front fender bend from a meeting with a too-short pole, it was $1.5k including taxes but there was no damage on the front fender part so I'd guess your cost would be double if done via insurance company.

If not done via insurance company, take it to a "paintless dent repair place" as recommended above, probably $300 + some touch-up paint?