The Wikipedia camera templates are a great place to research where a specific model sits in the lineup and timeline for a camera system.
If you look at the Canon EOS digital cameras template:
You'll see a direct line from the 500D to the current 800D/T7i and 850D/T8i.
They are pushing for the cheapest EOS 3000D but if I'm not mistaken that's like 2 classes inferior?
Yes, the 3000D/4000D/T100 is two tiers below the XXXD line of cameras. But, if your insurance policy doesn't have a "new for old" clause or replacement value clause, and your insurance company only has to replace for fair market value, then depreciation is a factor. A 500D/T1i on the used market these days in the US only goes for about $100-$200 (see MBP). So you may actually be doing well to get a new T100.