If it is certain that water did not reach the main part of the camper, then it might not be a bad deal to buy it back. To me, a lot would depend on what type of flooding.....fresh water, salt water, or sewage laden water.
Most of the stuff under the camper gets wet some anyway.
Again, making certain that the water did not reach the underside of the floor, I would:
Pull the underbelly enclosure and let it dry for a couple of days.
Sanatize the fresh water tank and low point drains.
Clean and repack wheel bearings.
Inspect the brakes.
Replace the furnace duct-work.
The wires and propane lines should be OK. If the camper has a circuit breaker from the battery, that should be replaced.
Can't think of what else might be under there.
It would also depend on how the insurance company does the title, and what the price of the buy back would be. A lot of stuff to consider.
Chap , DW Joy, and Fur Baby Sango
2006 Ford F150 Super Cab 4x4
2008 Surveyor 263