February may fly by, but it is often one of the most expensive months of the year. Between Valentine’s Day gifts, sentimental jewelry, and major Presidents’ Day car deals, many people bring home meaningful purchases during this short stretch of winter. Because these items often hold both emotional and financial value, it is essential to make sure they are properly insured from the start.

It is easy to get wrapped up in the excitement of finding the ideal necklace, scoring a great price on a new vehicle, or finally purchasing a piece of art you have admired for months. Still, before you drive, gift, or display your new purchase, there is an important step you should take: confirming that your insurance will protect you if something unexpected happens.

This rewritten blog breaks down the key coverage considerations for jewelry, collectibles, fine art, and new vehicles, and highlights useful recordkeeping habits that can save you stress later.

Why It’s Important to Secure Coverage Early

When it comes to high-value items, it is risky to wait until “later” to review your insurance needs. Loss, theft, and accidental damage can happen immediately—on the way home, while traveling, or even as the item is being given as a gift. For many types of valuables, securing coverage beforehand is the best way to avoid unpleasant surprises.

February’s mix of holiday gifting and major sales makes this especially relevant. Whether you are proposing with a ring, gifting a luxury watch, taking advantage of a Presidents’ Day auto promotion, or finally acquiring a piece of fine art, the goal is simple: pair the item with the right insurance so there are no gaps when you need protection the most.

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

Many people assume their homeowners policy fully covers their valuables, but most standard policies have low sublimits for certain categories—especially jewelry, art, and collectibles. In many cases, payouts for these items under a basic policy range from just $1,000 to $5,000, which may fall far short of the item’s true value.

That is where additional protection becomes essential. High-value jewelry, artwork, and specialty collectibles often require separate coverage, such as a scheduled personal property rider. This type of endorsement ensures that if the item is lost, stolen, or damaged, it can be reimbursed at its appraised value. These riders may also cover scenarios not included in standard homeowners insurance, such as accidental breakage or mysterious disappearance.

Scheduling typically requires an appraisal, and many insurers recommend updating those appraisals every few years. Certain items—especially valuable or fragile artwork—may benefit from specialized coverage that includes transit protection, restoration work, and global coverage.

Keep these important reminders in mind for February’s high-value gifts:

• Jewelry ownership does not transfer insurance automatically. The recipient must add the item to their own policy.
• For expensive pieces, consider a dedicated “valuable items” or “personal articles” policy available from major carriers.
• Maintain receipts, photos, appraisals, and serial numbers to document ownership and make future claims easier.

Sentimental items may be irreplaceable emotionally, but the right insurance ensures their financial value is protected.

Buying a New Vehicle: Understanding Grace Periods and Requirements

Presidents’ Day is a popular time to shop for a new car. Fortunately, most insurers provide an automatic grace period for newly purchased vehicles—usually lasting between seven and 30 days. During this window, your new car typically inherits the same coverage carried by another vehicle on your policy.

However, there are several details to be aware of:

• The grace period only applies if you already have an active auto policy in place.
• If you insure multiple vehicles, the new one usually receives the broadest coverage among them—but only temporarily.
• The new car mirrors your existing coverage. If your current policy only includes liability, your new vehicle will only have liability until you update your policy.

Before the grace period ends, you’ll need to formally add the new vehicle to your policy and adjust your coverage as needed. If the car is financed or leased, your lender will likely require collision, comprehensive coverage, and possibly gap insurance.

Also remember to remove any sold or traded-in vehicles from your policy so you are not paying for unnecessary coverage.

After buying a new vehicle, be sure to:

• Contact your insurer as soon as possible to update your policy details.
• Review your limits and deductibles to match your comfort level and the value of the new car.
• Update information such as garaging address, drivers, and usage.
• Keep copies of your registration, bill of sale, and insurance documents for easy access.

Recordkeeping Tips That Make a Big Difference

Whether you’re protecting jewelry, art, a collectible, or a new car, good documentation is one of your strongest tools. Organized records make establishing coverage easier—and simplify the claims process if something happens.

To stay prepared:

• Save receipts, appraisals, and serial numbers in a secure digital location.
• Take clear photos of new purchases, including any unique details.
• Review your home and auto policies annually or after any major purchase.
• Ask your agent about possible discounts when adding new valuables or vehicles.

If You Put Off Coverage, You Still Have Options

If you bought something months ago and never got around to adjusting your insurance, you are not alone. Many people delay updating their coverage when life gets busy or excitement takes over.

The good news is that it is not too late. An insurance professional can review your recent purchases, determine whether items should be scheduled, and help update your policies so they reflect your current needs moving forward.

Enjoy February While Protecting What Matters Most

Valentine’s Day and Presidents’ Day often bring special purchases—sparkling jewelry, new vehicles, meaningful art, and unique collectibles. Taking a few minutes to think through insurance before you use or gift these items is a simple way to protect both their emotional and financial worth.

If you’re adding something new to your life this February—or if you have items you intended to insure but never got around to—now is a great time to ensure they’re fully protected. A short conversation with an insurance professional can give you peace of mind, so you can enjoy your new purchases knowing you’ve taken the right steps to safeguard them.