There were several years during which Apple sub-divided the 13" Intel-based MacBook Pro line. 2019 was one of them. Entry-level models only had two USB-C (Thunderbolt) ports, and often got weaker processors. Higher-end models had four USB-C (Thunderbolt) ports, and better processors.
A 1.4 GHz Core i5 identifies your 2019 MBP as a two-port model with an entry-level processor. Those weren't a lot different from 13" 2019 MacBook Airs, which by then, had Retina screens, and 1.5 GHz Core i5 processors. Your MBP did have a four-core CPU as opposed to the dual-core one in the MacBook Air.
When Apple changed from Intel processors to Apple Silicon ones,
- the 13" 2-port MBPs were replaced by 13" Apple Silicon ones with plain M1 chips
- the 13" 4-port MBPs were replaced by 14" Apple Silicon ones with M1 Pro and M1 Max chips.
- the 16" MBPs were replaced by 16" Apple Silicon ones with M1 Pro and M1 Max chips
For M3- and M4-series chips, there are no 13" MBPs. Apple put plain M3 or M4 chips into variants of the 14" MBP chassis. This upgraded the plain M3 and plain M4 MBPs in some ways, but not in others. (With Apple Silicon Macs and the System-on-Chip processor design, which chip is inside a machine has a lot to do with what it can offer.)
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Looking at the CPU benchmarks in MacTracker, a 13" M2 MacBook Air scored at least twice as well as the 13" 2019 MBP with a 1.4 GHz quad-core Core i5. I don't have GPU benchmarks handy, but I presume that the GPU in the M2 is stronger.
Both have two USB-C (Thunderbolt 3) ports. The M2 MacBook Air has a MagSafe 3 port and can charge either over USB-C or over MagSafe 3, which might let you do a little less port juggling.
Your 2019 MacBook Pro can run Sequoia, but I would not count on it being eligible to run the next version of macOS (when that comes out in late 2025). The M2 MacBook Air will almost certainly be eligible for that macOS upgrade. Because the M2 MacBook Air has an Apple Silicon processor, it is eligible to run Apple Intelligence (if you want to do so), and can run some iPhone and iPad apps (if the developers of those apps allow that).
There is a difference in functionality as far as external displays:
- Your MacBook Pro can drive up to two external 4K displays, or one external 5K one
- A M2 MacBook Air can only drive a single external display, which can have a resolution of up to 6K.
Bottom line:
- A 13" M2 or M3 MacBook Air would be a reasonable "like for like" replacement for your 13" two-port 2019 MBP. While there were (now-discontinued) 13" M2 MacBook Pros, they would not be much different from the 13" M2 MacBook Air – other than lacking MagSafe 3 charging ports, and having Touch Bars.
I would suggest that you ask the insurance company nicely whether you can get that replacement M2 MacBook Air with 16 GB of RAM – even if you have to "pay the difference".
