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No best answer has yet been selected by Allan Ram. Once a best answer has been selected, it will be shown here.
For more on marking an answer as the "Best Answer", please visit our FAQ.Can't speak for a Corsa, but years ago I had one break on a Cortina and no damage was done at all - just a case of fitting a new belt & setting up the timing. People tell me I was lucky - I guess it's just a case of where all the reciprocating bits are in their cycle at the split second when the belt lets go, and in my case there was nothing in a position to make unintended contact. On the other hand I haver heard of cases where, as furrycheeky says, extensive damage was done to the valves & piston-heads........just luck, I suppose.
I also lost a cambelt with no damage on a 1984 Cavellier. Some of the older cars had "safe" engines where the pistons and valves would not touch if the belt snapped.
More modern cars tend to have higher compression engines and so are not safe in this way. It's just possible a 94 corsa could fall into this category but I'd be very doubtful.
Chances are it'll need a top end rebuild (as described by furrycheeky) this is likely to be unecconomic on an eleven-year old corsa.
Sorry