Protecting Your February Purchases the Smart Way

February may be one of the shortest months of the year, but it often comes with some of the biggest spending. From meaningful Valentine’s Day gifts to major Presidents’ Day sales, many people make high‑value purchases during this time. These items can hold both emotional and financial significance, which makes it essential to ensure they are properly protected.

It’s easy to get swept up in the excitement of choosing a beautiful piece of jewelry, finding the perfect artwork, or driving away in a newly purchased vehicle. But before you gift it, display it, or start enjoying it yourself, there’s an important step you shouldn’t skip: making sure your insurance coverage is prepared to safeguard your investment.

This rewritten blog explores what you should consider about insuring Valentine’s Day and Presidents’ Day purchases—including jewelry, fine art, collectibles, and vehicles—along with helpful recordkeeping tips that can save you significant stress down the road.

Why Coverage Should Come Before Using or Gifting a New Item

When you purchase something valuable, waiting to “figure out the insurance later” can be risky. Losses can happen immediately—during transit, while traveling, or even in the moment you give the item to someone else. That’s why it’s best to have the right coverage in place before the item changes hands or before you begin using it.

February tends to bring purchases that require thoughtful protection. A ring for a proposal, a collectible timepiece, a rare painting, or a newly financed vehicle all come with unique insurance considerations. Matching your coverage to the value and risks of the item ensures you aren’t left dealing with avoidable coverage gaps.

Jewelry, Art, and Collectibles: Why Standard Homeowners Coverage May Not Be Enough

Many people assume their homeowners insurance automatically covers their valuables in full. In reality, most policies include caps—especially for jewelry and fine art. These limits often fall between $1,000 and $5,000, which is rarely enough for high-end items.

To ensure full protection, additional coverage may be necessary. High-value jewelry, fine art, and collectibles often need to be “scheduled,” meaning listed individually on a rider or endorsement added to your homeowners policy. This approach typically provides coverage for the item’s appraised value and may even include protection against risks that standard policies exclude, like accidental damage or mysterious disappearance.

If you decide to schedule an item, you’ll likely need an up-to-date appraisal. For accuracy, appraisals should be refreshed every two to three years. Fine art may require even more specialized protection, including options that cover transit, restoration, or international travel.

Keep these reminders in mind when gifting or receiving high-value items:

• Coverage does not transfer automatically when jewelry is gifted or inherited. The new owner must add it to their own policy.
• Many insurers—such as State Farm, Travelers, Liberty Mutual, and others—offer valuable items coverage or personal articles policies.
• Always save receipts, photos, serial numbers, and appraisals. These are necessary for establishing ownership and value during a claim.

Whether the item is sentimental or rare, its financial worth can be fully protected with the right insurance strategy.

New Cars: How Grace Periods Work and What to Do Next

Presidents’ Day is a popular time to shop for cars, trucks, and SUVs. Fortunately, many insurers offer an automatic grace period that temporarily extends your existing auto coverage to your new vehicle. This window usually ranges from about seven to 30 days, with many companies offering between 14 and 30 days.

There are several important details to know about this temporary protection:

• The grace period only applies if you already have an active auto policy. If you don’t have coverage, you must secure a policy before driving the new vehicle.
• If you have multiple cars insured, your new vehicle typically inherits the broadest coverage currently on your policy.
• Your temporary coverage mirrors your existing coverage. For example, if your current car only has liability insurance, your new one will also only have liability until you update your policy.

Before your grace period expires, make sure your new vehicle is officially added to your policy. If you’re financing or leasing, your lender will likely require comprehensive and collision coverage, and may recommend or require gap insurance to protect against depreciation.

Don’t forget to remove any old vehicles from your policy once you no longer own them—this helps you avoid unnecessary costs.

Whenever you purchase a new vehicle, it’s a good idea to:

• Notify your insurance company before leaving the dealership or soon after.
• Review and adjust your coverage limits based on the new vehicle’s value and your risk tolerance.
• Update driver information, usage details, and garaging address.
• Keep copies of your bill of sale, registration, and insurance ID card for everyday use and claim verification.

A quick conversation with your agent ensures that your new vehicle is protected from the start.

Recordkeeping: A Small Habit with Big Benefits

Whether you’ve purchased jewelry, art, collectibles, or a new vehicle, organized documentation can make all the difference. Keeping accurate records not only helps you establish coverage but also makes claims easier and faster to process.

Enhance your recordkeeping by:

• Saving digital versions of photos, receipts, appraisals, and VINs in secure online storage.
• Taking pictures of new items from multiple angles, including distinguishing details.
• Reviewing your home and auto insurance once a year or after any major purchase.
• Asking your agent whether newly added items qualify you for bundling or multi-policy discounts.

These simple steps build a strong paper trail that supports you during any unexpected event.

If You’re Behind, Don’t Stress

If you bought something months ago—or even last year—and haven’t gotten around to updating your insurance, you’re not alone. It’s easy to get caught up in enjoying a new purchase and forget this part of the process.

The good news is that it’s not too late. Your agent can help assess what you own, determine the best type of protection, and update your policies so that your coverage reflects your current lifestyle.

Final Thoughts: Enjoy Your February Purchases with Confidence

February often brings meaningful gifts and exciting purchases—from sparkly jewelry and eye-catching art to new vehicles and treasured collectibles. Taking a little time to make sure these items are insured properly protects both your financial investment and the memories tied to them.

If you’re planning to add something special to your life this month—or if you have recent purchases waiting to be insured—now is the perfect time to make sure everything is covered. A quick check‑in with your agent can provide peace of mind, letting you enjoy your new belongings knowing you’ve taken the right steps to protect them.