They want to pay me less than what I am insured for

I have been with this insurance company from 2013 and I have had a decent experience until recently when my phone got ******/lost and I submitted a claim. Now that I have to claim I am told that I am insured for the replacement value of the value whereas all this time I was paying a premium for a covered value of R18 000. My contribution alone for that Cellphone through these years amounts to more than R11 000, but now that I have to get a payout I get a payout of only R8 500. When will insurance companies stop taking advantage of the less privileged? I could have easily paid less for the device if I was told upon taking the cover that I am just fooling myself and I will actually not even get half the amount that I am insured for.

I am disappointed that after such a long relationship with King Price I am not treated like this, not a day have I missed an insurance payment but when it is now their time to service me, I am being told stories.

The least they can do is reimburse my premium towards this device so that I cut my losses. I am not happy at all, and the consultant Maurice who is dealing with my claim tells me that it was my responsibility to ensure that I am insured for the correct value...The correct value according to me is what is stated on my policy schedule, what other value is there ??????? where are is written??? I am insured for the replacement of the device to the value of R18 000, I was paying a premium in accordance to that, and I am not expecting anything less.