If you'd have skipped the collision coverage altogether you'd have an
extra 500 a year in your pocket.. Why would anyone buy collision
coverage on a '94 T-bird.. Are you on crack..?

Now you want to go through all this nonsense to basically get (a
fraction of) 'your' money back...??

The rule of thumb is if the collision premium is 10% or more of the KBB
value of the vehicle you should self insure for collision. I'd call and
ask SF what they'd give you in the event of a total loss.
I doubt it'd be much...