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 moments. From Valentine’s Day jewelry and meaningful gifts to major Presidents’ Day car deals, many people bring home items that carry both sentimental and financial weight. With so much value wrapped up in these mid-winter purchases, it’s important to make sure they’re protected from the start.

It’s natural to get swept up in the excitement of choosing the right ring, finding a beautiful piece of art, or scoring a great discount on a new vehicle. But before those purchases are gifted, worn, displayed, or driven, there’s one essential step that shouldn’t be skipped: confirming that your insurance reflects the true value of the item.

This rewritten blog takes you through the major protections to consider for February purchases—from jewelry and artwork to brand-new cars—and highlights recordkeeping habits that can help you avoid headaches down the road.

Why It’s Important to Confirm Coverage Before You Use or Gift an Item

When it comes to high-value items, taking a “handle it later” approach to insurance can leave you unexpectedly exposed. Damage, theft, or loss can happen moments after purchase—on the way home from the store, while traveling, or even during the gifting moment itself. Securing proper coverage early helps ensure you’re prepared for the unexpected.

February’s gift-giving and shopping trends make this especially true. Whether you’re planning a surprise proposal, gifting a luxury watch, taking advantage of a Presidents’ Day car promotion, or adding a new piece of artwork to your home, each item has its own risk and coverage considerations. The goal is simple: match your insurance protection to the item’s value so you’re never caught off guard.

Jewelry, Fine Art, and Collectibles: What Homeowners Insurance Doesn’t Fully Cover

Many people believe that their standard homeowners policy automatically covers their valuables at full value. In reality, most basic policies include limits—called sublimits—on categories like jewelry and fine art. These limits are often much lower than the actual value of the items, sometimes only ranging from $1,000 to $5,000.

To fully protect high-value pieces, additional coverage is usually needed. This may involve adding a scheduled personal property endorsement to your homeowners policy. Scheduling an item ensures that if it’s lost, damaged, or stolen, you can be reimbursed up to its appraised value. These endorsements often include protections not found in standard policies, such as accidental loss or mysterious disappearance.

To schedule an item, most insurers require an updated appraisal. It’s also wise to revisit appraisals every two to three years to make sure coverage remains aligned with market value. Some types of art, especially those with unique or delicate characteristics, may require a specialized policy that encompasses transport, restoration, and worldwide protection—a smart choice if your artwork travels or is loaned to galleries.

Here are a few important reminders for jewelry and other high-value gifts:

• Coverage does not transfer when you gift or inherit jewelry—the new owner must add it to their own policy.
• For significant pieces, explore dedicated “valuable items” or “personal articles” policies offered by many major carriers.
• Keep detailed documentation, including photos, receipts, appraisals, and serial numbers, to simplify both underwriting and future claims.

A meaningful piece of jewelry or a unique collectible may hold deep emotional value, but proper insurance ensures the financial portion is protected as well.

Buying a New Car: Understanding Grace Periods and Essential Coverage Updates

Presidents’ Day has become a well-known time to shop for vehicles, and many insurers offer an automatic grace period for new purchases. This temporary coverage typically lasts anywhere from seven to 30 days, with many insurers offering 14–30 days of inherited coverage based on your existing auto policy.

However, there are key details to know:

• The grace period generally applies only if you already have an active auto policy. If you don’t, you may need coverage before driving the car off the lot.
• If you insure multiple vehicles, your new one often receives the broadest coverage carried on any of them—during the grace period only.
• Temporary coverage mirrors what you already have. For example, if your existing car is insured with liability only, the new one likely won’t have comprehensive or collision until you add them.

If you’re financing or leasing the vehicle, the lender will almost always require comprehensive and collision coverage. They may also recommend or require gap insurance, which protects you if the car’s value declines more quickly than the loan balance.

Make sure you also update your insurer when removing a car you’ve traded in so you’re not paying for unnecessary coverage.

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

• Contact your insurer before driving away or shortly after to update your policy.
• Review coverage limits and deductibles to match the new car’s value.
• Update driver information, garaging address, and usage details.
• Keep key documents—registration, bill of sale, and insurance ID—organized and accessible.

A quick policy update ensures your new vehicle is fully protected from day one.

Recordkeeping: A Simple Habit That Makes a Big Difference

Whether you’re protecting jewelry, vehicles, artwork, or collectibles, strong recordkeeping is one of your most valuable tools. Organized documentation makes policy setup easier and significantly speeds up the claims process if you ever need to file one.

Take these steps to build a clear record trail:

• Save receipts, appraisals, and serial numbers in a secure location.
• Store digital copies of paperwork and photos in cloud storage.
• Photograph new items from multiple angles, capturing distinguishing details.
• Review home and auto policies once a year—or after major purchases—to ensure coverage stays accurate.
• Ask your agent about potential bundling discounts when adding new valuables or vehicles.

These habits help your insurer move quickly and fairly if something unexpected happens.

If You’re Late Adding Coverage, Don’t Stress

If you bought something recently—or even months ago—and haven’t updated your policies yet, you’re not alone. Life gets busy, and insurance updates are easy to delay. Fortunately, it’s rarely too late to get proper guidance.

Your agent can review what you purchased, determine whether specialty coverage or scheduling makes sense, and help align your policies with what you own today.

Enjoy February — and Protect What Matters Most

Valentine’s Day and Presidents’ Day often bring meaningful purchases, from sparkling jewelry and sentimental gifts to new vehicles and standout artwork. Taking a little time to ensure those items are properly insured helps safeguard both the emotional and financial investment behind them.

If you’re planning new purchases this February—or want to update coverage for recent buys—connecting with your agent is a simple way to get peace of mind. That way, you can enjoy your new jewelry, artwork, or vehicle knowing you’ve taken the right steps to protect them.