I wouldn't do it, you may actually spend less than 2500$ on maintenance.
Having said that some people have had those insurance co's pay out for expensive repairs.
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2002 TiAg M3 6mt
deoranged, dechromed, led tails, ZHP knob, UUC SS v3, GROM, OEM 220M 19's, Michelin Supersports
2006 YZF-R6, bunch of go-fast stuff