I've had a couple of them, so were done well, some were death traps. Worst part, the untrained eye couldn't tell. It was only after months of driving them (well, the last one) that things began to shift a little...and then the cracking noises when I'd take a left hand turn to fast....oh yeah, and the winshield that cracked for no reason. I was just waiting for that car to break in half.
I also bought a convertible that was one thing after another. It was basically two cars welded together also.
Then another that I had no qualms with at all (the guy who built it was a class act)
Factors to consider:
How bad of an accident was it in to get totaled? Any before/after pics? Get the car on a lift and look at everything!
I never had a problem with insurance (though I never had a claim). Financing wasn't a problem either (never told them it was a salvage/rebuilt title, they never asked)
Benefits:
Significantly cheaper car
All that said, I'll never drive another wrecked one unless I have a long string of financial bad luck...YMMV
