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 Valentine’s Day jewelry and meaningful gifts to Presidents’ Day car deals and specialty purchases, this time of year is packed with emotionally and financially significant buys. Because these items often carry high value, it’s essential to make sure they're fully protected from the moment they become yours.

It’s natural to focus on the excitement of choosing the perfect gift or enjoying a long-awaited purchase. But before you wear that new piece of jewelry, display a beautiful work of art, or drive a fresh set of wheels off the lot, there’s an important step you shouldn’t overlook—confirming that your insurance provides the right protection. This guide walks through the key considerations for safeguarding Valentine’s Day and Presidents’ Day purchases, from valuable personal items to brand-new vehicles. You’ll also find a few recordkeeping tips that can make your life much easier if you ever need to file a claim.

Why Insurance Should Come First

High-value purchases come with risk before you ever get them home. Items can be misplaced, damaged, or stolen during transport, while traveling, or even in the process of gifting. Because of this, delaying coverage can be costly. For many expensive items, it’s best to put the proper protection in place before the gift is given or before you begin using it yourself.

This is especially important in February, when a wide range of meaningful purchases are common. Whether you’re preparing for a proposal with a new ring, surprising someone with a luxury watch, taking advantage of a Presidents’ Day car special, or adding an art piece to your home, each item comes with unique insurance considerations. The key is ensuring your coverage aligns with the item’s value and potential risks—before a loss occurs.

Jewelry, Art, and Collectibles: When You Need More Than Basic Homeowners Coverage

Many people assume their homeowners insurance fully protects all personal belongings. However, most standard policies include strict limits for certain categories, especially jewelry and fine art. In many cases, claims for these items are capped somewhere between $1,000 and $5,000—far below the value of engagement rings, luxury timepieces, rare artwork, or collectibles.

If you're purchasing something valuable for Valentine’s Day or adding a new collectible to your home, it’s worth exploring extra protection. High-value items often require either a scheduled personal property endorsement—sometimes called a rider—or a separate valuables policy. Scheduling an item guarantees that you’ll be reimbursed for its full appraised value if it’s lost, stolen, or damaged. These endorsements also frequently cover situations that standard policies exclude, such as accidental breakage or mysterious disappearance.

To schedule an item, carriers typically request a recent appraisal. Those appraisals should then be updated every few years to ensure your coverage matches the item’s current value. Artwork and specialized collectibles may also require dedicated policies that cover transportation, restoration, and international protection—especially helpful if you move, loan pieces, or travel with them.

For Valentine’s Day and other meaningful gift purchases, keep the following in mind:

• If you give or receive jewelry, the insurance coverage doesn’t automatically follow the item. The new owner must add it to their own policy.
• For high-value items, explore personal articles or valuables policies offered through many major insurers.
• Keep documentation—including receipts, serial numbers, photos, and appraisals—to verify ownership and value in the event of a claim.

These items may be priceless in sentiment, but their financial value deserves strong protection too.

New Cars and Presidents’ Day Purchases: Understanding Grace Periods

Presidents’ Day is a popular time for car shopping, and many insurers offer an automatic temporary coverage window for newly purchased vehicles. This grace period usually lasts anywhere from seven to 30 days, with many insurers falling somewhere between 14 and 30 days. During this time, your new vehicle typically adopts the broadest coverage you already carry on another car in your policy.

However, there are a few critical details to know:

• The grace period typically applies only if you already have an active auto policy with at least one insured vehicle.
• If you insure multiple cars, the new addition generally receives the highest level of protection among them—but only for the grace period.
• Temporary coverage mirrors your existing coverage. If your current car only has liability, your new one will also only have liability unless you update your policy.

Before the temporary coverage expires, make sure your new vehicle is fully added to your policy. If you’re financing or leasing, the lender will likely require comprehensive and collision coverage, and may also strongly recommend gap insurance to cover the difference between your loan balance and the car’s market value.

If you’re replacing an older vehicle, don’t forget to remove it from your policy once the transaction is complete—otherwise, you might end up paying for coverage you no longer need.

Whenever you buy a new vehicle, it’s wise to:

• Reach out to your insurer before leaving the dealership or shortly after.
• Update coverage limits and deductibles to match the new vehicle’s value.
• Confirm the driver's information, garaging address, and how the vehicle will be used.
• Store your bill of sale, registration, and insurance ID card for easy access.

The Value of Strong Recordkeeping

Whether you’re purchasing jewelry, art, collectibles, or a new vehicle, organized documentation is one of your best tools for ensuring smooth insurance coverage and claims processing. Having accurate, accessible records not only helps establish your policy but also simplifies the claim process.

Consider these helpful habits:

• Save digital copies of receipts, appraisals, photos, and VINs in a secure location.
• Photograph new purchases from multiple angles to help with identification later.
• Review your home and auto policies annually or after making a major purchase.
• Ask your agent whether adding new valuables or vehicles qualifies you for discounts.

Running Behind? You Can Still Catch Up

If you’re realizing that you purchased something weeks—or even months—ago and never got around to updating your insurance, don’t worry. You’re far from alone. Life gets busy, and it’s easy to overlook this step in the excitement of using something new.

The good news is that an agent can help you review your coverage, determine whether specific items need to be scheduled, and make any necessary updates. Even if you’re a bit late, you can still make sure your protection moving forward is aligned with your belongings and lifestyle.

Enjoy the Month—And Safeguard What Matters

February brings some of the most memorable purchases of the year—from sparkling jewelry to new vehicles, meaningful artwork, and once-in-a-lifetime collectibles. Taking a few extra minutes to confirm your insurance coverage ensures both the emotional and financial investment is well protected.

If you’re adding something special to your life this month—or want to catch up on insuring recent purchases—connecting with your agent can give you peace of mind. With the right coverage in place, you can enjoy your new items knowing you’ve taken the necessary steps to protect them.