High cost lowers demand for premium gas

Tell insurance company of enhancements 

Dear Terry,
I have a specially equipped wheelchair-accessible vehicle. It is a 2008 Honda Element with a lowered floor, manual foldout ramp, and wheelchair tie-downs. It cost about $20,000 to customize the car, giving it a total price of $42,000.

I want to make sure I have the appropriate insurance coverage for it. I stated the value at $39,000 (the amount I financed) for the insurance company so that the loan would be paid off. I have a standard five-year loan at 6.7 percent through a credit union.

How can I determine what insurance coverage is appropriate so that if it were ever wrecked, I would be covered and wouldn't lose my shirt? How do I determine the value of a vehicle like this as it ages? I'm also worried I can't get enough rental car coverage for it, as it costs more than $100 a day to rent a lift-equipped van.
-- Andrew

Dear Andrew,
You need to talk to your insurance agent and make sure your policy lists all the enhancements you've added. If they aren't listed -- no matter what you stated the value of the car to be -- the insurance company may not cover them.

Talk to the agent about gap insurance -- not all companies offer it -- that would guarantee you replacement value if the vehicle is totaled.