My insurance said something similar. They would only "sell me the car" if there is no structural damage. BTW, they didn't really sell the car back to me... they just gave me a cheque and I signed a "proof of loss" stating that I agree to the amount on the cheque.
This amount is the "walk away" amount less 30%.
E39 528i Touring - Unicorn Package (5 Spd M)
E39 M5 - for Sunny Days