It cost me over 4K to have a rebuild on my ///M due to spun shell bearing but that was with ///M tax price had literally doubled the price of a none ///M.
Having a quick google about saving a flood damaged engine in fresh water is to remove the plugs and turn over by hand to expell water out of the cylinders then drain oil and replace with the filter and empty petrol tank if water got in and try and start. If it does recheck the oil and if water present redrain oil and change filter again, rinse and repeat. Personally if you really want to keep the car I would try the first step and if it runs ok have the engine out striped down cleaned, may as well change the oil pump, tensioners and chain while in there a rehone and set of rings, main bearings and shells. I suppose it’s going to come down to how much electrical there is to modules but I suppose you could strip out the dash and modules and place in the airing cupboard for a week and get some dehumidifiers and heaters in the car after stripping the interior out and see if you can get it thoroughly dried out.
A lot of work , time and who knows how much expense in replacement modules etc, or put it down to a life experience no one hurt take the insurance money and add a bit more and look for another replacement. Good luck with what you decide to do.