How do I cut this bolt?

Don't forget to watch this incredibly awesome video on how to fix those pesky nutserts!!

well that video is fantastic - those nutsert replacements look awesome. I sheared off a bolt head on the underside of the passenger side rear frame where the bumper connects to the frame. Would these nutsert replacements be a good fix for that, when I inevitably drill out the sheared bolt and mess up all the threads?