February may be the shortest month on the calendar, but it often delivers some of the biggest spending moments of the year. Between Valentine’s Day surprises, meaningful jewelry, and eye-catching Presidents’ Day vehicle deals, many households make major purchases long before spring arrives. These items carry both emotional significance and financial weight, which makes safeguarding them especially important.

It’s easy to get swept up in the excitement—finding the perfect gift, landing a great price on a new car, or bringing home a special piece of artwork. But before those items are unwrapped, worn, displayed, or driven, there’s a crucial step that can save you stress later: confirming that your insurance offers enough protection if the unexpected happens.

Below, we’ll walk through the key types of coverage to consider for popular February purchases, from jewelry and fine art to vehicles, along with some helpful recordkeeping habits that make handling claims much smoother.

Why It’s Smart to Review Coverage Before Using or Gifting Something New

When it comes to expensive items, waiting to “figure out the insurance later” can leave you vulnerable. High‑value purchases can be lost, damaged, or stolen almost immediately—on the way home, while traveling, or even during the gifting moment itself. For certain valuables, the safest approach is to secure coverage before you give the item to someone else or before you begin using it yourself.

February makes this especially timely. Whether it’s a ring for a proposal, a rare watch, a Presidents’ Day vehicle purchase, or a newly acquired painting, each type of item has its own insurance considerations. The goal isn’t complicated: align your coverage with the value and risks of the item so you’re not caught off guard by limitations when you need help the most.

Jewelry, Artwork, and Collectibles: What Homeowners Insurance Often Doesn’t Cover

It’s a common assumption that a homeowners policy automatically protects your most precious items at their full value. In reality, many base policies include category limits—especially for items like jewelry and fine art. These caps often range from $1,000 to $5,000, far below the worth of many pieces.

That’s where supplemental coverage becomes essential. Jewelry, artwork, and collectibles often need additional protection to avoid costly gaps. Adding scheduled personal property coverage (sometimes called a rider or endorsement) ensures that if something happens, you’re covered for the item’s full, documented value. These endorsements can also include coverage for accidental damage and mysterious disappearance, which aren’t typically covered under standard policies.

To schedule an item, insurers generally require a recent appraisal. Because market values can shift, it’s a good idea to update appraisals every two to three years. Fine art may even require a specialized policy that includes worldwide protection, transit coverage, and restoration support—helpful if you relocate, loan pieces to galleries, or travel with them.

Here are a few reminders for high‑value Valentine’s Day gifts and collectibles:

• Insurance doesn’t transfer automatically when jewelry is gifted or inherited—the new owner must add it to their own policy.
• For higher‑value items, explore options like “valuable items” or “personal articles” policies from carriers such as Travelers, State Farm, or Liberty Mutual.
• Keep documentation such as receipts, photos, serial numbers, and appraisals. These are essential for establishing coverage and filing a claim.

While the sentimental meaning behind a romantic or rare item is priceless, its monetary worth deserves proper protection.

New Vehicle Purchases: Understanding Grace Periods and Next Steps

Presidents’ Day tends to be a prime time for purchasing cars, trucks, and SUVs. Fortunately, most insurers offer an automatic grace period for newly purchased vehicles—usually between seven and 30 days, with many falling somewhere between 14 and 30. During this timeframe, your new vehicle typically adopts the same coverage and limits as the broadest vehicle already listed on your policy.

However, there are a few details to keep in mind:

• Grace periods only apply if you already have an active auto policy. If you don’t have insurance, you generally must secure a policy before driving the new vehicle.
• If you insure multiple cars, your new one usually receives the most extensive coverage among them—but only during the grace window.
• Your temporary protection mirrors what you already carry. For example, if your current policy only includes liability coverage, the new vehicle will also only have liability until you update your policy.

Before the grace period expires, you’ll need to formally add the new vehicle to your auto policy. If you’re leasing or financing, lenders typically require comprehensive and collision coverage, and many also expect borrowers to consider gap insurance to cover the difference between the loan balance and the vehicle’s depreciated value.

And if you’re replacing a car, remember to remove the old vehicle from your policy so you’re not paying for unnecessary coverage.

Whenever you purchase a new vehicle—holiday sale or not—consider these steps:

• Reach out to your insurer before driving off the lot or shortly afterward to update your coverage.
• Adjust deductibles and limits to match both the value of your new car and your comfort level.
• Update details like drivers, garaging location, and usage type (commute, business, or personal).
• Keep documents such as your bill of sale, registration, and insurance ID card in a safe but accessible place.

Recordkeeping Tips That Make a Big Difference

No matter what type of purchase you’re protecting, organized recordkeeping goes a long way when it comes to insurance.

Make sure you keep receipts, appraisals, and any serial or identification numbers. These documents are essential for both setting up your policy and proving ownership if a claim ever arises. You can make this process even easier by following a few simple habits:

• Store digital copies of important documents—photos, receipts, appraisals, VINs—in a secure cloud account.
• Photograph new items from multiple angles, including any unique features that may help with identification.
• Review your home and auto policies annually or after any big purchase to confirm your coverage still matches what you own.
• Ask your agent about potential bundling or multi‑policy discounts after adding new valuables or vehicles.

Good recordkeeping creates a strong foundation that helps your insurer respond quickly and fairly if something goes wrong.

If You’re a Bit Behind, Don’t Stress

If you purchased something months ago—or even longer—and haven’t gotten around to adjusting your insurance, you’re in good company. Life gets busy, and it’s easy for this task to slip through the cracks.

The important thing is that it’s not too late. An agent can walk through your recent purchases, help you decide whether certain items need to be scheduled, and update your policies so your protection better matches your lifestyle moving forward.

Final Thoughts: Celebrate February with Confidence

February often brings unforgettable purchases—sparkling jewelry, meaningful artwork, or a brand‑new set of wheels. Spending a little time upfront to confirm your insurance coverage is a simple way to protect both your memories and your investment.

If you’re planning a meaningful purchase this month—or if you’ve recently added something special to your home or garage—I’m here to help make sure it’s properly protected. A quick conversation can go a long way toward giving you peace of mind as you enjoy the things that matter most.