Sorry to hear about your mishap and glad you're OK. Assuming you have comprehensive coverage which covers your bike when you are at fault (if you have a loan, they probably require it), the insurance company will decide if it's cheaper to fix the bike or "total" it (declare it a total loss). If the shop determines that it can be fixed and fixing it is less than its value (now used), then it will likely get fixed. If it's a total loss, the insurance company will decide how much it's worth. You may have some input if they try to low-ball the value, so try to find out what your bike used is worth (how much would it cost to replace it with another used bike).
Once the decision is made on the value, the insurance company will pay the value less your deductible. If you have a loan, they will likely pay the lien holder first and pay you whatever is left (hopefully the value minus the deductible is more than the loan balance). If you really want to squeeze every dollar out of the deal, ask the insurance company how much they will take for the salvage value of the bike. Usually if they total a vehicle, they own it and can dispose of it as they wish. If you can sell the good parts for more than the salvage value, you may be able to make a few bucks by buying the wrecked bike from the insurance company and selling the parts, but be carefull. If somehow you don't have comprehensive coverage, you're SOL. The bike is damaged and you still have the loan if there is one. This is when you find out how good your insurance company really is. Good luck!!