February may be the shortest month of the year, but it often comes with some of the biggest purchases. From sparkling Valentine’s Day jewelry and thoughtful romantic gifts to major Presidents’ Day car deals, many people make meaningful buying decisions during this winter stretch. These items usually carry both emotional and financial significance, which makes it essential to ensure they’re properly insured.

It’s tempting to stay focused on the exciting part—choosing a beautiful piece of jewelry, landing a great price on a new car, or finally buying a piece of art you’ve admired for months. But before you wear it, gift it, or drive it home, there’s one crucial step that deserves attention: confirming your insurance will actually protect you if the unexpected occurs.

This guide explores the coverage considerations you should keep in mind for popular February purchases, including jewelry, fine art, collectibles, and vehicles. You’ll also find helpful tips for organizing your records so you’re prepared if you ever need to file a claim.

Why You Shouldn’t Wait to Confirm Coverage

When it comes to high-value items, insurance shouldn’t be an afterthought. Losses can happen immediately—during transit, while you’re traveling, or even while presenting a gift. That’s why, for certain items, it’s wise to secure coverage before you hand them over or begin using them yourself.

This is especially relevant during February. Engagement rings, luxury watches, Presidents’ Day vehicle purchases, and new pieces of art all come with their own insurance needs. The goal is straightforward: align your insurance protection with the value of the item so you’re not faced with unpleasant surprises if something goes wrong.

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

Many people assume their standard homeowners insurance fully covers all valuable items. In reality, most policies include strict limits—particularly for jewelry and fine art. Claims for these items may only be covered up to about $1,000–$5,000 under a typical policy, which can fall far short of the item’s true value.

That’s where supplemental coverage becomes important. Jewelry, fine art, and collectible items often need separate protection beyond a homeowners policy. Adding a scheduled personal property endorsement ensures you can be reimbursed for the item’s full appraised value if it’s lost, stolen, or damaged. These riders may also cover incidents that aren’t normally included in a standard policy, such as accidental breakage or unexplained disappearance.

Most insurance companies require a recent appraisal to schedule an item, and those values should be updated every few years to maintain accurate coverage. Fine art may even require a specialized policy that covers transit, restoration, and worldwide protection—important for collectors who move frequently or loan artwork to galleries.

Here are a few reminders to keep in mind for Valentine’s Day gifts and other valuables:

• If you gift or inherit jewelry, the insurance doesn’t automatically move with it. The new owner must add it to their own policy.
• For higher-value items, consider dedicated “valuable items” or “personal articles” coverage from carriers such as Travelers, State Farm, or Liberty Mutual.
• Keep receipts, appraisals, photographs, and serial numbers. These documents help you secure coverage and establish ownership if you need to respond to a claim.

A thoughtful gift or rare collectible may be priceless emotionally—but its financial value should still be protected with the right insurance.

Buying a New Car? Know Your Grace Period and Next Steps

Presidents’ Day is a popular time to shop for cars, and many insurers provide a built-in grace period for newly purchased vehicles. This window typically ranges from seven to 30 days, with most falling between 14 and 30 days. During this time, the new vehicle usually receives the same coverage as another car already on your policy.

A few important points to understand:

• The grace period applies only if you currently have an active auto policy. If you don’t have existing auto coverage, you’ll need to secure insurance before driving the new vehicle.
• If you insure multiple vehicles, your new car generally inherits the broadest coverage among them—but only temporarily.
• Your temporary coverage matches what you already carry. For example, if your current policy includes only liability, the new vehicle will have liability until you update the policy.

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

And don’t forget—if you’re trading in or selling an older vehicle, make sure it’s removed from your policy so you’re not paying for unnecessary coverage.

Whenever you buy a new vehicle, make a habit of:

• Contacting your insurer before leaving the dealership or soon after to update your policy.
• Adjusting coverage limits and deductibles to match your new car’s value.
• Updating driver information, garaging addresses, and usage details such as commuting distance.
• Keeping your bill of sale, registration, and insurance ID handy for everyday use and claim needs.

Recordkeeping Tips That Make a Big Difference

Whether you’ve purchased jewelry, art, collectibles, or a new vehicle, keeping organized records can be incredibly valuable. These documents support your insurance policy and simplify claim processes if anything happens.

For best results:

• Store digital copies of photos, receipts, appraisals, and VINs in secure cloud storage.
• Photograph new purchases from multiple angles, including unique features.
• Review your home and auto insurance annually or after major purchases to ensure your coverage remains up to date.
• Ask your agent about bundling discounts, as adding new items or vehicles may make you eligible for additional savings.

These simple habits create a clear digital trail that helps your insurer provide faster, fairer support if a claim arises.

What If You Waited Longer Than You Intended?

If you bought something weeks or even months ago and haven’t updated your insurance yet, you’re not alone. Life gets busy, and it’s easy to overlook these details in the excitement of enjoying something new.

The good news is that it’s not too late. An agent can help review your purchases, recommend whether scheduling certain items makes sense, and ensure your policy reflects your current needs going forward.

Final Thoughts: Enjoy the Season and Protect What Matters Most

Valentine’s Day and Presidents’ Day often come with purchases that hold deep meaning—whether it’s a beautiful piece of jewelry, a new car, or a memorable piece of art. Taking a few moments to confirm your insurance coverage is a smart step toward protecting both the sentimental and financial value of these items.

If you’re planning to treat yourself or someone else this February—or if you’ve recently made a purchase you haven’t insured yet—I’m here to help you make sure everything is properly protected. With the right coverage in place, you can enjoy your new treasures with confidence.