lousy explanation

I claimed a new phone as my phone got lost,The claim was approved for R1192.00.<br> <br> I spoke with one of the call centre consultant this morning and he told me that the phone has depreciated hence they approved the claim for R1192.00 and shuch information was never explained to me when i purchased the phone.If there was a reduction in cover amount why didn't they reduce the premium.???<br> The phone was R1499.00 when i bought in 2014.<br> <br> Can someone revert back to me because this is not making any sense at all.