Protecting Your February Purchases the Smart Way

February may be one of the shortest months of the year, but it often brings some of the biggest spending. From meaningful Valentine’s Day gifts to major Presidents’ Day sales, many households make significant purchases during this time. Whether you’re celebrating with jewelry, bringing home a new vehicle, or finally investing in a piece of art you love, these items often carry both emotional and financial value. That makes it essential to think about how they’re protected before you start enjoying them.

It’s easy to get swept up in the excitement of buying something special. Maybe you found the perfect necklace, secured a great deal on a car, or picked out a painting that feels just right for your home. But before these items are unwrapped, worn, hung, or driven, there’s one crucial step that’s easy to overlook: making sure your insurance provides the protection you expect if anything goes wrong.

This guide breaks down the key coverage considerations for popular Valentine’s Day and Presidents’ Day purchases—including jewelry, fine art, collectibles, and new vehicles—and shares a few recordkeeping habits that can save you time, stress, and money later on.

Why You Should Confirm Coverage Before Using a New Item

With high-value purchases, waiting until “later” to deal with insurance can lead to problems. These items can be damaged, lost, or stolen sooner than you might think—sometimes during the trip home from the store or even as a gift is being exchanged. For that reason, it’s often best to have coverage in place before the new owner starts using the item.

This is especially relevant in February. Engagement rings, collectible watches, new cars purchased during holiday sales, and recently acquired artwork all come with their own risks and coverage requirements. Your goal should be to match the insurance protection to the item’s value and how it will be used so you aren’t caught off guard by gaps in your policy.

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

Many people assume their homeowners policy covers their valuables at full replacement value. In reality, most policies include sublimits for certain categories—especially jewelry and fine art. Payouts for these items are often capped between $1,000 and $5,000, which may fall far short of what your piece is actually worth.

That’s why additional coverage is often necessary. High-value items like jewelry, art, or collectibles typically require separate protection to ensure they’re fully insured. One of the most common solutions is scheduling the item on your policy through a personal property rider, also known as an endorsement. This provides coverage up to the item’s appraised value and can include protection for losses that standard policies don’t cover—such as accidental breakage or mysterious disappearance.

Most insurers require a current appraisal before adding scheduled coverage. These appraisals should be updated every couple of years to keep your policy aligned with market value. Some types of art may even require a specialized policy—particularly if the piece is moved, displayed in different locations, or transported frequently.

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

  • Coverage does not automatically transfer when jewelry is gifted or inherited. The new owner must add it to their own policy.
  • Higher-value pieces may be better protected through “valuable items” or “personal articles” insurance, which many major carriers offer.
  • Maintain receipts, photographs, serial numbers, and appraisals. These records help establish coverage and support you during a claim.

While the sentimental value of a special gift or collectible may be irreplaceable, the financial value can be protected with the right insurance strategy.

Buying a New Vehicle: Understanding Grace Periods and Next Steps

Presidents’ Day is known for its car deals, and many buyers drive home a new vehicle during this winter stretch. Thankfully, most auto insurers automatically extend your existing coverage to a newly purchased vehicle for a short period—commonly between seven and 30 days, with many carriers offering around 14 to 30 days of temporary coverage. During that time, the new car usually mirrors the coverage of another vehicle already listed on your policy.

Here are a few key points to understand about these grace periods:

  • You must already have an active auto policy for the grace period to apply. If you don’t have insurance, you’ll generally need to purchase a policy before driving the car.
  • If multiple cars are insured, the new vehicle may temporarily receive the broadest coverage among them—but only until the grace period expires.
  • Your new car inherits your existing protections. If your current coverage is liability-only, the new vehicle will also be liability-only until you update your policy.

Before the grace period ends, make sure the new vehicle is fully added to your policy. If you’re financing or leasing, your lender will usually require comprehensive and collision coverage, and may recommend or mandate gap insurance. This protects you if the car’s value decreases faster than the loan balance.

And if you’re selling or trading in your old car, don’t forget to remove it from your policy so you’re not paying for coverage you no longer need.

Whenever you purchase a new vehicle, try to:

  • Notify your insurer before leaving the dealership or as soon as possible after the purchase.
  • Review your coverage limits and deductibles to ensure they fit your new vehicle and comfort level.
  • Update information like drivers, garaging location, and how the car will be used.
  • Keep your registration, bill of sale, and insurance ID card in a safe place.

A quick conversation with your agent can make sure your new car is protected from day one.

Helpful Recordkeeping Tips

No matter what type of item you’re insuring—jewelry, artwork, collectibles, or a car—strong recordkeeping is one of the easiest ways to protect yourself. Good documentation makes the coverage process smoother and speeds up claim handling if something goes wrong.

Consider these habits:

  • Save receipts, appraisals, and serial numbers in an organized way.
  • Store digital copies of receipts, appraisals, photos, and VINs in secure cloud storage.
  • Photograph new purchases, including any distinguishing marks.
  • Review your insurance policies annually, especially after major purchases.
  • Ask your agent about bundling discounts—you may qualify for savings after adding new valuables or vehicles.

If You’re Running Behind, Don’t Stress

If you made a major purchase recently and haven’t updated your insurance yet, you’re not alone. Life gets busy, and it’s common to put insurance updates on the back burner. The good news is that you can still bring your coverage up to speed. An agent can help determine whether certain items should be scheduled and ensure your policies reflect your current needs moving forward.

Enjoy February—and Protect What Matters Most

Valentine’s Day and Presidents’ Day often bring meaningful purchases, whether they’re sentimental gifts or major investments. Taking a moment to think about insurance can help safeguard both your emotions and your finances. If you’re planning to bring something new into your life this February—or if you’ve been meaning to insure recent purchases—now is a great time to make sure everything is protected. With the right coverage, you can enjoy your new jewelry, artwork, or vehicle with confidence.