February may be brief, but it’s often packed with pricey and meaningful buys. Jewelry for Valentine’s Day, memorable gifts, and big savings on cars during Presidents’ Day often make this month one of the most financially significant times of the year. Because these items usually carry emotional and monetary value, it’s important to make sure they’re protected from day one.

Finding the perfect gift or scoring a great deal can be the fun part. But before you put that necklace in a velvet box, hang a new piece of artwork, or take a freshly purchased car onto the road, one step should always come first: confirming that your insurance is ready to support you if something unexpected happens.

This rewritten guide walks you through the core insurance considerations for February purchases, from jewelry and collectibles to brand-new vehicles, along with key recordkeeping habits that help streamline claims later.

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

When an item has significant value, it’s risky to delay getting coverage. A loss can occur at any point—on the ride home, while traveling, or even during the moment you present it as a gift. That means the safest time to secure insurance is before the item changes hands or becomes part of your daily life.

February purchases highlight this perfectly. Proposal jewelry, specialty watches, art pieces, and holiday weekend car deals each come with different types of risk. The goal is to match your insurance protection to the value and vulnerability of the item so you’re not left with gaps when you need coverage most.

Jewelry, Fine Art, and Collectibles: Why Homeowners Insurance Isn’t Always Enough

Many people assume their homeowners policy fully protects all valuables. In reality, standard policies commonly apply strict payout limits to categories like jewelry and fine art. It’s not unusual for claims in these areas to be capped between $1,000 and $5,000—much less than the value of many gifts purchased around Valentine’s Day.

To truly protect these items, additional insurance is often needed. Jewelry, artwork, and collectible pieces may require separate coverage to ensure full reimbursement if they’re damaged, lost, or stolen. Scheduling an item through a personal property rider (sometimes called an endorsement) allows the insurance company to cover the item at its appraised value and often includes broader protections, such as coverage for accidental breakage or mysterious disappearance.

Appraisals are typically required to schedule an item, and insurers generally recommend updating those appraisals every two to three years. Higher‑value art may even need a specialty policy that covers repairs, transit, and worldwide protection—especially useful if pieces are displayed outside your home or transported for exhibitions.

A few important reminders for anyone gifting or receiving valuable items:

• Coverage doesn’t transfer when jewelry is gifted or inherited; the new owner must add it to their own policy.
• For items with significant worth, consider a stand-alone valuable items or personal articles policy, which many major carriers offer.
• Store receipts, photos, serial numbers, and appraisals in a secure place. These details are essential when establishing coverage or filing a claim.

While some gifts have sentimental value that can’t be replaced, the financial investment can still be protected with the right insurance strategy.

New Vehicle Purchases: How Grace Periods Work

Presidents’ Day is a popular time for car shopping, and most insurers provide a temporary extension of your existing auto policy to cover a newly purchased vehicle. This grace period often lasts anywhere from seven to 30 days, with many companies offering two to four weeks of automatic protection. During this time, the new vehicle generally receives the same coverage and limits as another car already listed on your policy.

There are several important points to understand:

• The grace period only applies if you already have an active auto insurance policy. If you don’t have auto insurance yet, coverage must be secured before driving the new car.
• If multiple vehicles are insured under your policy, the new car usually receives the broadest existing coverage during the grace window.
• Your new car mirrors the protection you currently carry. For example, if your existing vehicle only has liability coverage, the new one will not be covered for collision or comprehensive damage until your policy is updated.

Before the grace period ends, make sure your new vehicle is fully added to your policy. If you’re financing or leasing, the lender will typically require comprehensive and collision coverage and may insist on or strongly suggest gap insurance to protect against depreciation in the event of a total loss.

If you’re replacing an older car, remember to remove the old vehicle from your policy so you’re not paying for unnecessary coverage.

Whenever you buy a car—whether during a holiday sale or at any other time—be sure to:

• Notify your insurer before you leave the dealership or as soon as possible within the grace period.
• Review coverage limits and deductibles to match the value of your new vehicle.
• Update details such as drivers, parking location, and vehicle usage.
• Keep copies of your bill of sale, registration, and insurance ID card accessible.

A quick call or message to your agent can help ensure your new vehicle is fully protected from the moment you own it.

Recordkeeping Tips for All High‑Value Purchases

Whether you’ve bought jewelry, art, collectibles, or a vehicle, proper recordkeeping is one of the most effective ways to smooth the insurance process.

Keep receipts, appraisals, and identifying numbers in an organized system. This documentation is useful not only for setting up coverage but also for verifying value if a claim becomes necessary. To make the process even easier:

• Store digital copies of all important documents, including photos and VINs, in a secure cloud location.
• Take clear photos of new items, including distinguishing details or markings.
• Review your insurance policies annually or whenever you buy something significant to make sure your coverage reflects what you own.
• Ask your agent whether adding new items or vehicles might qualify you for bundling or other discounts.

Keeping thorough records helps your insurer respond quickly and accurately if a problem arises.

If You Haven’t Updated Coverage Yet, You Still Have Options

If you purchased something last month—or even earlier—and forgot to update your insurance, you’re not alone. It’s easy to get wrapped up in life and put this step on the back burner.

The reassuring news: you can still get everything in order. An insurance agent can review your recent purchases, recommend whether specific items should be scheduled, and help you adjust your policies so they reflect your current needs.

Final Thoughts: Celebrate Smart and Protect What Matters

Valentine’s Day and Presidents’ Day often bring meaningful purchases, whether it’s sparkling jewelry, a new car, or a unique piece of art. By taking a few minutes to think through your insurance needs before you gift or use these items, you’re helping protect both the sentimental and financial value they bring into your life.

If you’re planning a new purchase this February—or you’ve recently bought something and want to make sure it’s protected—we’re here to help you get the right coverage in place. A quick conversation can give you peace of mind, letting you focus on enjoying your new belongings knowing they’re well protected.