Lost parcel and not willing to re-imburse value of parcel

The week before Xmas Courier guy in Vredendal lost my parcel, according to them it was delivered and even their tracker shows this only to be found on later investigation that the driver in fact never delivered my package as stated. For 3 entire days they were apparently looking for the parcel, but it could not be found. I was then told to log a claim with them and they would re-imburse me the value of said parcel. I was even told that they are not sure were the money is going to come from as it was a casual driver. Today I was told that I would only be paid 55% of the value of my parcel due to their policy of not refunding more than R1000. I am now out of pocket due to no fault of mine and to make it worse I have to re-order the products again at full price. I have used their services on numerous occasions and according to them you have to opt of extra insurance when sending parcel if needed, not once was this even mentioned to me.