That would suck. I don't know if I'd be able to remain calm, but if insurance is going to take care of it, I guess that's somewhat of a consolation, along with the fact that the car will probably end up in a willing party's hands.
What dipshits though. What kind of an idiot - knowing as much about the car as he does - goes out and joyrides at/beyond the limits of the car? You'd have to be ubertarded.