February may be the shortest month of the year, but it often comes with some of the biggest spending. Between Valentine’s Day gifts, meaningful splurges, and major Presidents’ Day car deals, many people bring home purchases that hold both emotional and financial weight. With so much value wrapped up in these items, protecting them should be part of your plan from day one.

Finding the ideal piece of jewelry, scoring a great price on a new vehicle, or finally buying that artwork you’ve admired is exciting. But before those items become part of daily life—or before you hand them over to someone else—it’s essential to confirm that your insurance is ready to step in if something unexpected happens.

This guide breaks down the key coverage considerations for jewelry, fine art, collectibles, and new vehicles, along with recordkeeping tips that can make your life easier in the long run.

Why It's Important to Secure Coverage Before Using or Gifting an Item

High-value purchases are vulnerable long before they’re fully incorporated into your routine. Items can be damaged, stolen, or misplaced within hours of buying them—sometimes even in transit from the store or while being gifted. Because of that, it’s wise to make sure the right coverage is active before the item changes hands or gets put to use.

This matters especially in February. Whether you’re planning a Valentine’s Day proposal, buying a luxury watch, securing a Presidents’ Day deal on a new car, or acquiring a new art piece, each item comes with unique insurance needs. The goal is simple: match the protection to the value and risks so there are no surprises later.

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

Many people assume their homeowners insurance will automatically cover high-value belongings at full cost. Unfortunately, that’s rarely the case. Most standard homeowners policies include strict limits for categories like jewelry, fine art, and collectibles. In many situations, the payout cap may only be between $1,000 and $5,000—even if your item is worth far more.

That’s why supplementary coverage is often necessary. Valuable items may need additional protection beyond what your home policy provides. A scheduled personal property rider (also called an endorsement) can help ensure that you receive the full appraised value of an item if it’s lost, damaged, or stolen. These endorsements can also include coverage for events that basic policies typically exclude, such as accidental breakage or unexplained disappearance.

Most insurers require a current appraisal when you schedule an item, and it’s wise to update those values every few years. Fine art may even require a specialized policy that includes coverage for transportation, restoration, or worldwide protection—particularly helpful if you travel with your collection or loan pieces to galleries.

Here are a few additional reminders when protecting high-value gifts:

• Coverage doesn’t transfer automatically when you gift or inherit jewelry. The new owner must add it to their own policy.
• For expensive items, consider stand-alone valuable items or personal articles coverage, commonly offered by major carriers.
• Keep records such as receipts, serial numbers, photos, and appraisals. These are essential for establishing value and ownership during a claim.

While the sentimental value of a special gift can’t be replaced, the financial investment can—and should—be safeguarded with proper insurance.

New Vehicle Protection: Understanding Grace Periods and What Comes Next

February’s Presidents’ Day sales make it an ideal time to buy a vehicle. Luckily, many insurers offer an automatic grace period that temporarily extends your existing auto coverage to your new vehicle. This period typically lasts between one and four weeks, with many carriers falling in the 14- to 30-day range. During this time, your new car usually receives the same coverage and limits as another vehicle already listed on your policy.

There are a few important points to keep in mind:

• You must already have an active auto policy for the grace period to apply. Without one, you generally need coverage before driving the vehicle.
• If you insure multiple cars, the new one typically adopts the broadest coverage among them—but only during the grace window.
• Your new car mirrors your current protection. If your existing vehicle only has liability coverage, your new car will only have liability until you make updates.

Before the grace period ends, make sure your new vehicle is officially added to your policy. If you're financing or leasing, your lender will require comprehensive and collision coverage and may encourage gap insurance to protect against depreciation-related losses.

And don’t forget: if you sell or trade in another car during the process, remove it from your policy so you aren’t paying for unnecessary coverage.

Whenever you bring home a new vehicle, make it a routine to:

• Contact your insurer right away—preferably before leaving the dealership—and update your policy.
• Adjust deductibles and limits to match the value of your new vehicle.
• Review information such as drivers, usage type, and garaging address.
• Keep copies of key documents like your bill of sale, registration, and insurance card for easy access.

Recordkeeping Tips for Smoother Claims and Stronger Protection

No matter what you’re insuring—art, vehicles, collectibles, or jewelry—maintaining detailed records makes a major difference.

Hold onto receipts, appraisals, and serial numbers. Not only do they help you establish coverage, but they’re invaluable during a claim. To stay even more organized:

• Store digital versions of receipts, photos, appraisals, and VINs in secure cloud storage.
• Take photos of new purchases, including close-ups and distinguishing details.
• Review your insurance policies annually or after large purchases to make sure coverage limits still fit your needs.
• Ask your agent about bundling opportunities, which may reduce costs after adding new items or vehicles.

These habits create a clear record that helps your insurer respond quickly and accurately if something goes wrong.

If You Haven’t Updated Your Coverage Yet, Don’t Worry

If you bought something recently—or even months ago—and never updated your insurance, you’re not the only one. Life gets busy, and it’s easy to overlook these details.

The good news is that you can still get everything up to date. An agent can review your recent purchases, help determine which items should be scheduled, and recommend updates so your protection reflects your lifestyle and belongings going forward.

Final Thoughts: Protect the Things That Matter This February

From sparkling Valentine’s gifts to Presidents’ Day vehicle upgrades, February often brings special purchases that carry deep meaning. Taking a moment to confirm your coverage ensures that you’re protecting both the emotional value and the financial investment behind those items.

If you’re planning to bring something new into your life—or if you need to catch up on insuring recent buys—I’m here to help. A quick conversation can give you peace of mind so you can fully enjoy your jewelry, artwork, or new vehicle knowing you’ve taken smart steps to safeguard them.