February may be one of the shortest months of the year, but it often brings some of the biggest purchases. From romantic Valentine’s Day gifts to major Presidents’ Day sales, many people make meaningful investments during this winter stretch. These items can carry emotional significance as well as financial value, which makes proper protection a must.

Finding the perfect ring, securing a great deal on a new vehicle, or bringing home a long-admired piece of art are exciting decisions. But before those purchases are gifted, worn, displayed, or driven, it’s important to make sure your insurance is ready to step in if something unexpected happens.

This rewritten blog explores the key types of coverage to keep in mind when purchasing jewelry, fine art, collectibles, and new vehicles in February. It also highlights the importance of simple recordkeeping habits that make claims smoother and protect your investment for the long run.

Why Insurance Should Be Set Before You Use or Gift an Item

Waiting until “later” to sort out insurance can leave you vulnerable. High-value items are at risk from the moment they’re purchased. Whether something is damaged on the drive home, misplaced while traveling, or stolen shortly after gifting, these early moments are often when coverage matters most.

February is full of purchases that fit into this category: jewelry intended for a proposal, collectible watches, art pieces discovered on winter trips, and vehicles bought during Presidents’ Day sales. Each requires a level of protection that reflects both its worth and its vulnerability. By confirming coverage early, you avoid unpleasant surprises during a claim.

Jewelry, Fine Art, and Collectibles: Why Standard Coverage Falls Short

A common misconception is that homeowners insurance automatically covers valuable items for their full worth. In reality, most homeowners policies include strict sublimits for categories like jewelry, artwork, collectibles, and similar items. Often, these limits sit somewhere between $1,000 and $5,000—far below the value of many fine jewelry pieces or artwork purchases.

This is where additional protection becomes essential. High-value belongings typically require their own coverage to ensure they’re insured for their full appraised value. Scheduling an item through a personal property endorsement—also known as a rider—provides protection that goes beyond standard homeowners coverage. It also helps cover risks that basic policies often exclude, such as accidental damage or mysterious disappearance.

Most insurers will require a recent appraisal before allowing an item to be scheduled, and it’s wise to update these appraisals every few years. Fine art may even require its own specialized policy, particularly if it travels, is loaned to galleries, or needs protection during transit or restoration.

Here are a few reminders for safeguarding high-value Valentine’s Day gifts and other luxury purchases:

• Insurance doesn’t automatically follow a gift. The new owner must add the item to their own policy.
• For more expensive pieces, look into valuable items or personal articles policies offered by major carriers such as Liberty Mutual, State Farm, Travelers, and others.
• Keep all appraisals, photos, receipts, and serial numbers. These documents are essential for both establishing coverage and filing claims later.

While sentimental value can’t be replaced, financial loss can be mitigated with the right kind of coverage. A little preparation ensures that treasured gifts remain protected.

Buying a Car? Know Your Grace Period and Key Next Steps

Presidents’ Day is famously associated with vehicle deals, and many buyers take advantage of seasonal discounts. The good news is that most insurers automatically extend your existing auto insurance to a newly purchased car for a limited time. This grace period can range from seven to 30 days, though 14–30 days is most typical.

During this time, the new vehicle usually mirrors the best existing coverage on your policy, provided you already carry active auto insurance. However, there are a few important details to remember:

• The grace period only applies if you already have a car insured. If you don’t, you’ll need to secure coverage before driving the new car.
• The new vehicle generally adopts the broadest coverage you already have on any car in your policy during the grace period.
• If your current car only has liability protection, your new car will also only be covered for liability until you officially update your policy.

Before the grace window ends, be sure to add your new vehicle to your policy and review the coverage options. If the car is leased or financed, the lender may require collision and comprehensive coverage. Gap insurance is also worth considering, as it helps cover the difference between your loan balance and the vehicle’s actual value.

Don’t forget to remove any vehicles you’re trading in or selling so you don’t pay for unnecessary coverage. When buying a new car, it’s always smart to:

• Notify your insurer before you leave the dealership or shortly after.
• Review your deductibles and coverage to make sure they fit the new car and your needs.
• Update any information about drivers, garage locations, and how the vehicle will be used.
• Keep your registration, bill of sale, and insurance ID card handy.

The Power of Good Recordkeeping

Whether it’s jewelry, artwork, collectibles, or a new vehicle, staying organized makes everything easier. Keeping clear records not only helps you secure appropriate coverage but also speeds up the claims process if something ever happens.

Here are simple habits to adopt:

• Store receipts, appraisals, and serial numbers in an organized, secure location.
• Keep digital copies of documents and photos in secure online storage.
• Take photos of new valuables from multiple angles to help with identification.
• Review your insurance policies each year—or after any major purchase—to ensure coverage aligns with your belongings.
• Ask your agent whether adding new valuables or a vehicle could earn you bundling or multi-policy discounts.

These small steps create a reliable trail of information that helps your insurer respond quickly and fairly when needed.

If You’re Behind, You Can Still Catch Up

If you purchased something months ago—or even over a year ago—and never got around to updating your insurance, you’re far from alone. Life gets busy, and it’s easy to put off handling paperwork once the excitement of a new purchase fades.

The encouraging news is that it’s not too late. Your agent can review past purchases, determine whether certain valuables should be scheduled, and help bring your coverage up to date so you’re protected moving forward.

Final Thoughts: Enjoy February While Protecting What Matters Most

February often brings memorable purchases, whether it’s sparkling jewelry, a new vehicle, a unique art piece, or a cherished collectible. Taking a little time to confirm insurance coverage helps safeguard both the emotional significance and financial value of these items.

If you’re planning to bring home something special this month—or if you’ve been meaning to insure recent purchases—now is the perfect time to get everything squared away. A brief conversation with your agent can give you peace of mind, allowing you to enjoy your new belongings knowing they’re fully protected.