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If I had something on the bag, I would probably fix it. However, I would look at repairing rather than a brand new bag. My Indy has a guy that is great at repairing tins and bags. That would probably save you a few coins for other mod parts.
Having said that, I was recently the victim of a hit and run myself. Guy rear ended me at a stop sign. As we were getting out of traffic and before I could get his info (insurance, license plate) he drove off. Anyway, it broke by license plate bracket and put a couple of minor scratches on the fender behind the plate bracket. I added an HD curved plate bracket which covers the scratches and pocketed the $1000 my insurance company paid me. Well, it wasn't pocketed for long. I used part of it to replace both tires and do a back brake job. I still have some nice spending money left over.
Use the money and buy a set of extended bag and gap inserts to clean up the back of the bike. Probabluy even end up adding some LED lights and end up painting the whole bike.
I have a few small scratches on my bike that I have been thinking about fixing on my bike. And have talked myself into waiting until this winter and extend the rear fender at the same time.
That said, I had some scuffs on my saddle bag on fairing from a parking lot mishap (my fault, don't ask). I had it all repaired for 200.00 and it's just like new. Find someone to paint it and pocket the rest. No need to buy a new saddle bag.
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