February may be short, but it often brings some of the year’s priciest and most meaningful purchases. From romantic Valentine’s Day jewelry to big Presidents’ Day car deals, many people bring home items that hold both emotional and financial weight. With so much value wrapped into these mid‑winter buys, making sure they’re properly insured is just as important as choosing the perfect gift or vehicle.

It’s easy to get swept up in the excitement of finding the right necklace, upgrading a car, or finally purchasing that piece of artwork you’ve been eyeing. But before you slip it on, hang it up, or drive it away, take a moment to confirm that your insurance coverage is in place. A little preparation today can save you a lot of trouble if something unexpected happens later.

This guide walks through the key insurance considerations for Valentine’s Day and Presidents’ Day purchases, including jewelry, fine art, collectibles, and new vehicles. You’ll also find helpful tips for organizing documents so you’re ready if you ever need to file a claim.

Why It’s Important to Secure Coverage Early

With high‑value items, you don’t want to wait until something goes wrong to check your insurance. Loss, theft, and damage can happen right away—on the drive home, during travel, or even while handing over a gift. For many valuables, the safest option is to have coverage in place before the item goes into regular use.

February makes this especially relevant. A proposal ring, collectible watch, limited‑run artwork, or Presidents’ Day vehicle purchase each comes with its own insurance needs. The goal is simple: make sure your policy aligns with the value of your new item, so you’re not surprised by gaps when you need protection the most.

Jewelry, Fine Art, and Collectibles: Going Beyond Standard Policies

Many people assume their homeowners policy fully covers their valuables. However, most standard policies include strict limits for categories like jewelry and fine art. It’s not unusual for claims in these areas to be capped between $1,000 and $5,000—an amount that often falls far below the true value of the item.

This is where extra coverage becomes essential. Items such as jewelry, artwork, and collectibles often need dedicated protection beyond what your homeowners policy provides. One common approach is adding a scheduled personal property endorsement, which allows the item to be insured for its appraised value. These endorsements can also extend coverage to situations a typical policy may not include, such as accidental damage or mysterious disappearance.

Most insurers require an up‑to‑date appraisal before an item can be scheduled, and those appraisals should be refreshed every two to three years to ensure accuracy. In some cases—especially with fine art—a specialty policy may be more appropriate. These policies can include worldwide coverage, protection during transit, and support for restoration services.

Additional Tips for High‑Value Gifts

• If jewelry changes hands due to gifting or inheritance, coverage does not automatically transfer. The new owner must add it to their own policy.
• For particularly expensive pieces, you may want to explore valuable items or personal articles insurance offered by carriers such as Travelers, State Farm, or Liberty Mutual.
• Keep all documents organized—receipts, photos, serial numbers, and appraisals. These records help establish ownership and make the claims process smoother.

While the sentimental value of a gift can’t be replaced, the financial loss can be minimized with proper insurance.

Buying a New Car? Understand Your Grace Period

Presidents’ Day is a popular time to take advantage of auto sales, and many insurers offer a built‑in grace period for newly purchased vehicles. This temporary protection typically lasts anywhere from seven to 30 days, with many companies falling within the 14‑ to 30‑day range. During this time, your new vehicle generally adopts the coverage limits of one of the cars already listed on your policy.

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

• The grace period applies only if you already have an active policy covering at least one vehicle. If you do not currently carry auto insurance, you will need a policy before driving the new car.
• If you insure multiple vehicles, the new one usually receives the broadest coverage among them—but only until the grace window closes.
• If your current policy includes liability only, the new car will also be limited to liability until you update the coverage.

Before the grace period ends, make sure your new vehicle is officially added to your insurance. Drivers who lease or finance a car will almost always be required to carry comprehensive and collision coverage. Some lenders may also suggest gap insurance to cover the difference between the car’s actual cash value and the remaining loan balance.

If you are trading in or selling a vehicle at the same time, be sure the old car is removed from your policy so you’re not paying for unnecessary coverage.

Smart Steps After Every Vehicle Purchase

• Notify your insurer before leaving the dealership or as early as possible to update your coverage.
• Adjust deductibles and coverage limits based on the value of your new car and your personal preferences.
• Make sure your policy reflects how the vehicle will be used, including commuting distance and garaging address.
• Keep copies of your bill of sale, registration, and insurance ID card for easy reference.

Taking these steps ensures your new car is protected right from the start.

Stay Organized With Strong Recordkeeping

Whether you’re purchasing fine art, a new vehicle, or a piece of jewelry, keeping good records is one of the most valuable habits you can establish. Clear documentation supports your insurance, simplifies claims, and helps verify ownership.

To make recordkeeping easier:

• Save digital versions of receipts, appraisals, photos, and VIN numbers in secure cloud storage.
• Take photos of new purchases from multiple angles, including any unique features.
• Review your home and auto policies annually or after any major purchase to ensure your coverage limits still match your belongings.
• Ask your agent whether new purchases qualify you for bundling discounts or other savings.

A strong paper trail—both physical and digital—helps your insurer respond quickly and fairly if a problem arises.

If You’re Behind, Don’t Worry

If you purchased something months ago and meant to update your insurance but didn’t, you’re not alone. Life gets busy, and it’s common to put insurance updates on the back burner. The good news is that it’s not too late. An agent can review your items, suggest coverage updates, and help make sure everything is protected moving forward.

Final Thoughts: Enjoy the Season and Protect What Matters

February’s celebrations often bring meaningful purchases—sparkling jewelry, new vehicles, unique collectibles, and sentimental gifts. Taking the time to confirm your insurance ahead of time is a simple way to safeguard both the emotional and financial investment behind each item.

If you’re planning a new purchase this season, or if you have items you’ve been meaning to insure, now is the perfect moment to take action. A quick conversation can give you the peace of mind that your valuables are covered and ready to enjoy.