Protecting Your Special February Purchases

February may be the shortest month of the year, but it often brings some of the biggest spending. Between Valentine’s Day jewelry, heartfelt gifts, and major Presidents’ Day car sales, many people bring home items with both emotional and financial weight. Because these purchases matter, it’s important to make sure they’re covered properly from the very beginning.

It’s easy to get wrapped up in the excitement of finding the perfect ring, scoring a great deal on a new vehicle, or finally taking home a piece of artwork you’ve admired for months. But before you slip on the jewelry, hang the painting, or drive your new car off the lot, there’s one essential step you shouldn’t skip: confirming that your insurance offers the protection you expect.

This blog outlines the key insurance considerations for Valentine’s Day and Presidents’ Day purchases, including jewelry, fine art, collectibles, and vehicles. It also highlights helpful recordkeeping habits that can save time and stress down the road.

Why Insurance Should Come First

When it comes to valuable purchases, waiting to sort out insurance can leave you exposed. Damage, theft, or loss can happen immediately—during the car ride home, while traveling, or even as a gift is being opened. Ensuring coverage in advance is a simple way to avoid an unwanted surprise.

February traditions make this especially timely. Engagement rings, luxury watches, collectible art pieces, and deeply discounted cars each come with different levels of risk. Matching the right insurance coverage to the value of the item helps protect you from unexpected gaps.

Jewelry, Fine Art, and Collectibles: What Homeowners Policies Don’t Cover

Many people assume their homeowners policy automatically covers all valuables at their full value. In reality, most standard policies include strict limits on categories like jewelry and artwork. These caps often fall in the $1,000–$5,000 range, which might be far below the worth of your purchase.

To make sure your piece is fully protected, additional coverage is often necessary. Valuable items such as jewelry, artwork, and collectibles may need separate protection beyond what your basic homeowners policy provides. Adding a scheduled personal property rider—sometimes called an endorsement—ensures that the item is covered for its full appraisal amount. These endorsements can even include protection for issues not normally covered, such as accidental breakage or mysterious disappearance.

Most insurers require a recent appraisal to schedule an item, and it’s wise to refresh valuations every two or three years. Fine art may require more specialized insurance that includes coverage for transit, restoration, and worldwide protection—useful if you relocate, lend pieces to exhibitions, or travel with them.

A few helpful reminders when insuring jewelry and other high-value items:

• Coverage doesn’t transfer automatically when jewelry is gifted or inherited. The new owner must add it to their own insurance policy.
• For expensive pieces, consider a dedicated “valuable items” or “personal articles” policy, often available from major carriers such as State Farm, Travelers, or Liberty Mutual.
• Hold on to receipts, photos, serial numbers, and appraisals. These documents are essential when establishing coverage and filing a claim.

A thoughtful Valentine’s Day gift or meaningful collectible may hold sentimental value that can’t be replaced, but the financial side can—and should—be protected with the right insurance.

New Vehicles: Grace Periods and What to Do Next

Presidents’ Day is a prime time for car buying, and the good news is that many insurers offer automatic temporary coverage for new vehicles. This grace period typically lasts between seven and 30 days, depending on the carrier, with many falling in the two- to four-week range. During that time, your new car inherits the same coverage limits you already carry on your existing vehicle.

However, there are a few important details to understand:

• You must already have an active auto policy for the grace period to apply. If you don’t currently have coverage, you generally need to secure a policy before driving your new car.
• If you insure multiple vehicles, the new car normally receives the broadest level of coverage among them during the grace window.
• The temporary protection mirrors your existing policy. If your current car only has liability coverage, the new one will too until you update your policy.

Before the grace period expires, it’s essential to officially add the new vehicle to your policy. If the car is financed or leased, the lender will almost always require comprehensive and collision coverage, and they may strongly recommend gap insurance to cover the difference between the loan balance and the car’s actual value.

And don’t forget the vehicle you’re parting with—make sure to remove it from your policy so you’re not paying for unnecessary coverage.

Whenever you bring home a new car, take these steps:

• Contact your insurer before leaving the dealership or as soon as possible within the grace period to update your policy.
• Adjust deductibles and coverage limits based on the value of the new vehicle.
• Confirm how the car will be used and update drivers, addresses, and commute details if needed.
• Keep your bill of sale, registration, and insurance ID card on hand for claims and everyday use.

A quick call or email to your insurance agent can ensure your new ride is properly protected from day one.

The Value of Organized Records

Good documentation is one of the best resources you can have—whether you’re insuring jewelry, artwork, collectibles, or a new vehicle. Organized records make it much easier to establish coverage and streamline the claims process.

Keep track of receipts, appraisals, serial numbers, and other key documents. To take things further:

• Store digital versions of receipts, photos, appraisals, and vehicle identification numbers (VINs) in secure cloud storage.
• Photograph new purchases, including unique markings or details, to make identification easier if a claim is ever filed.
• Review your home and auto policies annually or after any major purchase to ensure coverage still reflects what you own.
• Ask your insurance agent whether adding new valuables or vehicles qualifies you for bundling discounts.

These simple habits help create a clear record that supports fast and fair resolutions if something goes wrong.

If You’re Behind, Don’t Worry

Maybe you bought something months ago and meant to handle the insurance later but never got around to it. It happens more often than you might think. Life gets busy, and new purchases are exciting—insurance doesn’t always feel as urgent.

The good news is that it’s not too late. Your insurance agent can review your recent purchases, help you determine whether items should be scheduled separately, and update your coverage so that everything is protected moving forward.

Enjoy February’s Purchases With Confidence

Valentine’s Day and Presidents’ Day often bring meaningful purchases—sparkling jewelry, new vehicles, unique artwork, or treasured collectibles. Taking a little time to think about insurance ensures both the sentimental and financial investment are protected.

If you’re planning a special purchase this February—or have items you’ve been meaning to insure—we’re here to help you make sure everything is properly covered. A brief conversation can offer lasting peace of mind, allowing you to enjoy your new treasures knowing you’ve taken the right steps to protect them.