Two of my cars were flooded by Hurricane Ivan last year. Both were under four feet of salt water and sludge. Very very messy, to say the least.
One was a 1962 MGA that was not covered by insurance. It had been totally restored, and was worth about $15,000.00. I was able to sell it for parts for two large. Those old suckers are mostly all iron and it rusted fast. A lot of the body was bumped around since it floated around in my garage with my 1994 Intrepid.
I got (happily) $2900.00 for my Intrepid, which didn't rust much, since they're almost entirely made of plastic, but I did write FLOODED in block letters across the title before I mailed it in to the wrecker.
They apparently had a contract with the state, and just toted all the cars in the neighborhood to a central location to be lloked at by the insurance adjuster. Every square inch of the interior and trunk were coated with mildew and mold by the time they picked it up.
Since it's illegal in Florida to sell a flooded car, and with FLOODED written across the title, it might be really difficult, but prolly not impossible for them to resell the car.
In it's condition, however, I doubt they could get $2.75 for the car, although the tires had only a few thou on them. I'd be glad to know they could be resurrected.
Dave