Market value of 2021 Honda Brv in 2023

I had an accident on my vehicle on the 4th of June 2023 which was caused by a tyre burst, my phone was off which meant I couldn't call my insurance on the same evening of the incident. My car was towed and I called my insurance the following day...to cut the story short , I lodged a claim and it was approved. Two weeks later I was told my car was a write off, I was never told the reasons.

The sad part is that my insurance paid R179000 to the bank that has financed me and I have a shortfall of R137000. I fail to understand why a 2021 Honda Brv which costs me R365000 could worth R179000 in 2023. It only had a mileage of 40000km, and has no mechanical damage and the airbags didn't burst on time of the accident. I am really disappointed and distressed by the outcomes of my claim.