He's Ok, But my 16 year old was in an accident today...

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His fault and he wrecked his gorgeous truck that his dad bought him for his birthday 6 months ago. He's so upset and so sure in his teenage mind that I am angry and he's waiting to see what his punishment will be. I tried to tell him that I am just grateful that he is ok and that he did not hurt anyone else. It was an accident and it's not like he was out where he shouldn't be (like me, when I was 15, and across town from where I was supposed to be when I totaled my mom's car) He's still scared and is afraid to tell his dad. I have decided that he is not in trouble at home I will tell his dad for him And I will HELP him fix the truck (we only have liability insurance because the truck is paid for) Why? He is an honor roll student He works 30 hours a week and maintains his grades He pays his own gas, ins, and spending money I think he's so mad at himself, that he is getting punishment enough And to be honest, I am so thankful that this life experience was no worse and that my son is ok. Am I wrong not to punish him? I am a firm believer in discipline, but I think this is a life lesson and I should be supportive. He will have to pay for his ticket and the insurance which will go up, and help pay for the damage as I also believe that he has to see the consequences of carelessness. I also think he should get right back behind the wheel (with my heart in MY throat) like getting back on the horse. I am wrong not to punish him with restriction or take the truck away from him for a time? I am really trying to see how best to handle the situation for his sake and safety. I am so grateful that he's ok and that he didn't hurt anyone that I don't want to be lax. I feel that I am doing the right thing, but am not adverse to some suggestions or thoughts from parents who have been through this kind of thing. Thanks to all that respond.