February may fly by, but it often comes with some of the year’s biggest purchases. From Valentine’s Day jewelry and heartfelt gifts to Presidents’ Day auto deals, many people choose this winter stretch to buy items that carry real emotional and financial value. With so much invested, it’s important to make sure the things you’re buying are protected from the moment they become yours.

Finding the perfect ring or finally scoring that car you’ve been eyeing is the fun part. But before you slip the jewelry on, mount the art on your wall, or pull your new vehicle out of the dealership parking lot, there’s a key step you don’t want to skip: confirming whether your insurance is ready to cover the unexpected.

This guide breaks down the coverage considerations for common Valentine’s Day and Presidents’ Day purchases, including jewelry, fine art, collectibles, and vehicles. You’ll also find a few simple recordkeeping habits that can make life much easier should you ever need to file a claim.

Why It’s Smart to Secure Coverage Before Using a New Item

High-value items can be at risk almost immediately. Things can get lost, damaged, or stolen on the way home from the store, while traveling, or even minutes after they’re given as gifts. For that reason, waiting to sort out insurance coverage can leave you unintentionally exposed.

February purchases often fall into categories that require special attention. A proposal-ready diamond ring, a luxury watch, a Presidents’ Day car purchase, or a piece of artwork all come with different insurance needs. The sooner you align your coverage with the value of what you’ve bought, the less likely you are to face unpleasant surprises if something happens.

Jewelry, Art, and Collectibles: Why Standard Homeowners Insurance Isn’t Enough

Many people assume their homeowners policy automatically protects their valuables at full value. Unfortunately, that’s rarely the case. Most homeowners policies include strict limits—especially for jewelry and fine art. Claims for these items may be capped anywhere from $1,000 to $5,000 under a basic policy, leaving you underinsured if the item is worth significantly more.

That’s where additional coverage becomes essential. Valuable pieces like jewelry, art, or collectibles often need their own coverage beyond what a standard homeowners policy offers. One option is to add a scheduled personal property rider, which lists each item individually and ensures it’s covered for its appraised value. These riders often include protection for accidental damage or mysterious disappearance—situations that standard policies usually exclude.

To schedule a valuable item, insurers generally require a recent appraisal. It’s a good idea to refresh those appraisals every few years to keep your coverage current. Fine art may also benefit from more specialized policies that cover unique scenarios like transit damage, restoration, and global protection—especially important if you move, loan pieces to museums or galleries, or transport them frequently.

Here are a few reminders when dealing with high-value Valentine’s gifts or other meaningful items:

• If jewelry is gifted or inherited, coverage doesn’t automatically carry over. The new owner must add it to their policy.
• For more expensive items, ask about “valuable items” or “personal articles” policies, which many major carriers offer.
• Save receipts, appraisals, serial numbers, and photos. These documents help establish coverage and verify ownership if a claim is needed.

Even though the emotional significance of a meaningful gift can’t be replaced, you can protect the financial value with the right insurance strategy.

Buying a New Vehicle? Know Your Grace Period

Presidents’ Day is one of the most popular times of the year to buy a new car, truck, or SUV. The good news: many insurance companies automatically extend your current auto coverage to a newly purchased vehicle for a short period—often between seven and 30 days, with many falling in the 14–30 day range. During this window, your new vehicle typically takes on the highest level of coverage on your existing policy.

However, there are a few important details to keep in mind:

• The grace period applies only if you already have an active auto policy. If you don’t, you’ll need to secure coverage before driving the new vehicle.
• If you insure multiple vehicles, the new car typically inherits your broadest existing protection—but only temporarily.
• The temporary coverage mirrors what you already have. If your current car only carries liability coverage, your new vehicle will only have liability until you update the policy.

If you’re financing or leasing your new vehicle, your lender will likely require collision and comprehensive coverage and may strongly suggest gap insurance to cover the difference between your loan amount and the vehicle’s actual cash value.

Don’t forget the other side of the transaction: if you’re trading in or selling an older vehicle, be sure it’s removed from your policy so you’re not paying for unused coverage.

Whenever you buy a vehicle—February or otherwise—make these steps part of your routine:

• Contact your insurer before you leave the dealership or shortly afterward to add the new vehicle to your policy.
• Update coverage levels and deductibles to match the value of your new purchase.
• Confirm information like who will be driving the car, how far it will be driven, and where it will be stored.
• Keep your bill of sale, registration, and insurance card handy for everyday use and for claim verification.

A quick call or email to your insurance agent ensures your new car is properly protected right from the start.

Recordkeeping Tips That Make a Big Difference

Whether you’re purchasing jewelry, art, collectibles, or a vehicle, keeping good records can save a tremendous amount of effort later. Accurate documentation helps you establish coverage and simplifies the claims process if something ever goes wrong.

Here are a few best practices:

• Hold onto receipts, appraisals, invoices, and serial numbers.
• Store digital copies of important documents—such as photos, appraisals, and vehicle VINs—in secure cloud storage.
• Take pictures of new items, including close-ups of distinctive features.
• Review your home and auto insurance annually or after major purchases to confirm your coverage keeps pace with what you own.
• Ask your agent whether adding new valuables or vehicles affects your eligibility for bundling or other discounts.

These simple habits create a clear paper trail that makes it easier for your insurer to assist you quickly and accurately.

If You’re a Bit Behind, Don’t Stress

If you purchased something last month—or even longer ago—and never got around to updating your insurance, you’re certainly not alone. People often hit pause on insurance updates during busy times or in the excitement of enjoying something new.

The good news is it’s not too late. Your agent can review your recent purchases, recommend whether items should be scheduled, and adjust your policies so future coverage reflects your current lifestyle and property.

Final Thoughts: Celebrate February with Confidence

Between Valentine’s Day and Presidents’ Day, February brings gifts and purchases that often hold deep meaning—whether that’s sparkling jewelry, a new car, or artwork that brings joy to your home. Taking a moment to think through your insurance coverage is one of the simplest ways to protect both the sentimental and financial value of those items.

If you’re planning to add something special to your life this month—or if you’ve recently bought something and haven’t updated your insurance yet—I’m here to help make sure everything is properly covered. A quick conversation can give you peace of mind, letting you enjoy your new purchase knowing you’ve taken the right steps to protect it.