Trying to figure out my best options

I am financing a car and was in a minor accident that I believe both drivers are at fault, we were in a small parking lot and both backing out. The car is still drive-able just some minor cosmetic damage to the rear bumper (the other drivers bumper just has some scratches where mine is dented). I have AllState insurance in CO. My deductible is $1,000 and the auto body place said it would take a few days and recommended I get a rental (which isn't covered by my plan and something else I have to figure out how to navigate). This is a new experience for me and I'm not sure what the best options are or what my responsibility/obligations are. Can someone ELI5 if I need to get my bumper repaired since the car a finance? TIA