intentionally misleading clients on cellphone insurance

i insured an iphone 11 in 2020 for the value of 23,999 on the 25/11/2022 my phone was ******, when i put my claim through, it was approved and they are now offering me another iphone 11, which is now valued at R10500. and an excess to be paid of 1250. that is more than 50% less of what i paid for the phone upon speaking to the agents they said that they are putting me in the same position i was in before, however based on the values it is not the same position as before, my premiums have still been the same, and policy clearly states that its insured for R23999, the phone was a new model when i took the insurance. why am i getting a phone that is now outdated and nowhere near the value i have insured it for