February may be one of the shortest months of the year, but it often leads to some of the biggest spending. From Valentine’s Day jewelry and thoughtful surprises to Presidents’ Day car deals and specialty purchases, many people bring home items that carry both emotional and financial significance. Because these purchases can be meaningful in more ways than one, it’s important to make sure they’re properly insured before you start enjoying them.

It’s natural to get wrapped up in the excitement—finding a meaningful gift, securing a great price on a new vehicle, or finally bringing home that piece of art you’ve been admiring. But before you put the item to use, hang it in your home, or finalize a gift exchange, there’s another step worth prioritizing: making sure your insurance coverage truly matches the value of what you’ve bought.

This rewritten blog explores the protections you should consider for typical February purchases such as jewelry, artwork, collectibles, and new cars. You’ll also find a few reminders on recordkeeping habits that can help you avoid unnecessary stress if you ever need to file a claim.

Why insurance matters before you start using a new item

When you buy something valuable, waiting too long to figure out the insurance details can come back to haunt you. Items can be stolen, damaged, or misplaced within hours—during transit, at home, or even as you’re preparing to give them as gifts. That’s why it’s best to put coverage in place before you start using or gifting anything expensive.

This becomes especially important around Valentine’s Day and Presidents’ Day. Whether you’re purchasing an engagement ring, a luxury watch, a new vehicle, or a one-of-a-kind painting, each type of item has its own considerations. The goal is to match the right type and amount of insurance to the item so that there are no unpleasant surprises if you ever need to file a claim.

Jewelry, art, and collectibles: looking beyond your homeowners policy

Many people believe their homeowners insurance automatically provides full protection for their valuables, but standard policies often include strict limits for categories like jewelry and fine art. In many cases, the default coverage for these items maxes out at only a few thousand dollars.

That’s why supplemental coverage is often necessary. High-value pieces—whether they’re sentimental gifts or investment art—may require special protection beyond what your standard policy includes. Adding a scheduled personal property endorsement (sometimes called a rider) ensures that items are covered for their full appraised value. These riders can also include protection against risks typically excluded by basic policies, including accidental damage and unexplained disappearance.

To schedule an item, insurers typically request a recent appraisal. Because market values change, it’s wise to update those appraisals every couple of years. Certain fine art pieces may even qualify for specialized insurance that includes coverage during transport, for restoration, and in locations around the world—ideal if you move frequently, loan art to galleries, or travel with valuable items.

Here are a few reminders when dealing with valuables and Valentine’s Day gifts:

• Insurance coverage doesn’t automatically transfer when jewelry is gifted or inherited. The new owner must add it to their policy.
• High-value pieces may be best protected through a standalone “valuable items” or “personal articles” policy, which many insurance carriers offer.
• Keep photos, receipts, serial numbers, and appraisals organized. These records are essential both for establishing coverage and for supporting a claim.

While jewelry and collectibles may be priceless emotionally, the right insurance ensures their financial value is safeguarded too.

Buying a new vehicle: understanding grace periods and next steps

Presidents’ Day is well known for car shopping. The good news is that most insurers offer a built-in grace period that temporarily extends your current auto policy to a newly purchased vehicle. Depending on the insurer, this timeframe usually ranges from seven to thirty days, with many falling somewhere between fourteen and thirty.

During this grace period, your new vehicle typically receives the broadest level of coverage available on your existing policy. However, there are a few important details to keep in mind:

• The grace period only applies if you already have an active auto policy with at least one insured vehicle. If you don’t have existing coverage, you’ll need a policy before driving the new car.
• If you own multiple vehicles, the newest one usually inherits the highest level of coverage among them—but only during that temporary window.
• If your current insurance only includes liability coverage, your new car will only be protected for liability until you update the policy.

Before the grace period ends, make sure your new vehicle is officially added to your policy. If you’re leasing or financing the car, your lender will likely require comprehensive and collision coverage. They may also recommend or require gap insurance, which covers the difference between the car’s loan balance and its actual cash value.

If you’re trading in or selling an older car, don’t forget to remove it from your policy to avoid paying for insurance you no longer need.

Whenever you buy a new vehicle—whether it’s around Presidents’ Day or any time of year—make a habit of:

• Contacting your insurer right away to update your policy.
• Reviewing your deductible levels and making sure they match your comfort level.
• Updating driver information, garaging address, and usage details like commute distance or business use.
• Saving digital and physical copies of your bill of sale, registration, and insurance cards.

A quick conversation with your insurance professional can help ensure your new vehicle is properly protected from the moment you leave the dealership.

Recordkeeping tips that make life easier

No matter what type of item you’re insuring—jewelry, fine art, collectibles, or a new vehicle—keeping organized records will save you time and stress later. Insurers rely on documentation to confirm ownership and value, and having everything accessible helps claims move forward quickly.

Consider these habits:

• Make digital copies of receipts, appraisals, photos, and VINs and store them securely online.
• Photograph new items from multiple angles, including distinguishing features.
• Review your home and auto policies annually or whenever you make a major purchase.
• Ask your agent about discounts for bundling or adding new coverage.

These small steps create a reliable record that can make a big difference when it matters most.

What if you’re already behind on insurance updates?

If you purchased valuable items recently but haven’t yet addressed the insurance, you’re not alone. It’s easy to delay these tasks when life gets busy or when the excitement of a new purchase takes priority.

The reassuring news is that it’s not too late. Your insurance agent can help evaluate what you’ve bought, determine whether specific items need to be scheduled, and update your policies so they accurately reflect your possessions.

Enjoy February—and protect the things that matter

Valentine’s Day and Presidents’ Day often bring home some of the year’s most meaningful purchases—from sparkling jewelry to brand-new vehicles or rare collectibles. Spending just a little time confirming the right insurance coverage is a simple way to protect both their monetary and emotional value.

If you’re planning a new purchase this February—or if you’ve recently added something special to your life and want to make sure it’s protected—now is a great time to review your coverage. A quick discussion with your insurance professional can help you feel confident that your valuables are safe and fully insured.