The short answer is: NO. Your settlement is not final. It can be reopened.
For example, you might have had an adjuster who didn't understand the effects of flood waters on building foundations. Or the adjuster simply looked at you and said, "On the basis of our inspection, this is our best offer." Or you had an adjuster who simply rejected parts of your claim as invalid.
An insurance company payment doesn't close you out of making a full and fair settlement. If you have any questions about this, call the Law Offices of Barry Fischer to discuss your case today.