In all honesty, that really isnt that bad. I mean, it is still driveable with the body damage. if the rear wheel or even the axle is bent, you can easily get a replacement from a junk yard for a lot less than another car (in the couple hundred dollar range). My car has a crease over the rear fender on that same side, and to get it fixed would be rediculess because it would probably be as much as I paid for the car ($600), so I just drive it how it is. I would say fix the wobbly wheel and forget about the body damage, and dont get the insurance involved.
Just my $0.02