February might be the shortest month of the year, but it tends to deliver a surprising number of big purchases. From romantic Valentine’s Day gifts—like jewelry or collectible items—to the major car deals that pop up around Presidents’ Day, it’s a time when many people bring home meaningful, high‑value items. And whether those purchases hold sentimental or financial weight, making sure they’re properly protected should be part of the plan.

It’s easy to get wrapped up in the excitement of finding the perfect gift or scoring a great price on a new car. But before you wear that new watch, hang up that painting, or drive off the lot, there’s an essential question worth asking: is your insurance ready to cover the investment you just made? A few simple steps now can save you enormous frustration later.

Why Insurance Should Be Part of the Purchase Plan

When it comes to high‑value purchases, waiting to “figure out the insurance later” can leave you exposed. Items can be lost, damaged, or stolen before they ever settle into their new home. Whether it’s a ring purchased for a proposal, a luxury watch, a Presidents’ Day vehicle deal, or a rare piece of art, protection needs to be in place early.

February purchases often fall into categories with specific insurance requirements, so timing matters. The idea is simple: make sure your policy truly reflects your newest valuables before they’re gifted, worn, displayed, or driven. Matching your coverage to the actual value of the item helps close gaps that can otherwise catch you by surprise.

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

Many people assume their homeowners policy automatically protects every valuable they bring home. Unfortunately, standard policies usually place strict limits—known as sublimits—on categories like jewelry, art, and collectibles. These caps often range from $1,000 to $5,000, which may only cover a fraction of the item’s worth if something happens.

To protect these items properly, you may need additional coverage. Scheduling jewelry, artwork, or collectibles on your policy ensures they’re insured for their full, appraised value. A scheduled personal property rider (also called an endorsement) can also expand the types of losses covered, including accidental damage or unexplained disappearance—events that basic homeowners policies often exclude.

Most insurers require up‑to‑date appraisals for scheduled items, and these should be refreshed every two to three years to keep your coverage accurate. Depending on the piece, fine art may even require a specialized policy, especially if it will be transported, loaned out, or displayed outside your home.

As you prepare Valentine’s Day gifts or consider insuring newly purchased valuables, keep these reminders in mind:

• If you give or inherit jewelry, insurance doesn’t transfer automatically. The new owner must add the item to their own policy.
• Higher‑value pieces may require their own “valuable items” or “personal articles” policy, offered by many major carriers.
• Hold onto receipts, appraisals, serial numbers, and photos of each item. These documents establish value and ownership—critical details if you ever need to file a claim.

While no policy can replace the emotional value of a meaningful gift, the right insurance can ensure the financial loss is covered.

Buying a New Car? Understand Your Grace Period

Presidents’ Day is a popular time of year for purchasing a vehicle. The good news is that in many cases, insurers automatically extend your existing auto coverage to a new vehicle for a set period of time. This grace period generally ranges from seven to 30 days, with many carriers landing between 14 and 30. During this temporary window, the new vehicle typically adopts the broadest coverage already on your policy.

There are a few important details to understand, however:

• The grace period usually applies only if you have an active auto insurance policy already covering a vehicle.
• If you have multiple vehicles insured, the new one generally inherits the highest level of coverage among them—but only within the grace period.
• Your temporary coverage mirrors what you currently have. For example, if your existing vehicle only has liability coverage, your new car will only be protected for liability until you update the policy.

Before your grace period expires, take time to fully add the new car to your policy. If you’re financing or leasing the vehicle, your lender will likely require collision and comprehensive coverage, and may also recommend gap insurance. Gap insurance helps protect you from owing more on your loan than the car’s actual cash value if it’s totaled or stolen.

If you’re trading in or selling an older car, be sure to remove it from your policy once the transaction is complete so you’re not paying for unnecessary coverage.

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

• Call your insurer before leaving the dealership—or as soon as possible—to update your coverage.
• Review and adjust deductibles and coverage limits based on the vehicle’s value and your comfort level.
• Confirm details like drivers, garaging location, and whether the vehicle will be used for commuting, business, or personal use.
• Keep digital and physical copies of important documents like your bill of sale, registration, and insurance ID card.

Recordkeeping: Small Habits That Make a Big Difference

No matter what kind of purchase you’re protecting—art, jewelry, collectibles, or a new vehicle—staying organized is one of the most effective ways to streamline the insurance process.

Keep receipts, appraisals, and identifying information like serial numbers and VINs. These documents are often required when establishing coverage and can significantly speed up claims if something happens. To make things even easier:

• Store digital copies of documents and photos in secure cloud storage.
• Photograph new purchases from multiple angles to document distinguishing features.
• Review your home and auto insurance once a year—or any time you make a major purchase—to confirm that your coverage reflects what you own.
• Ask your agent whether new purchases might help you qualify for bundling or multi‑policy discounts.

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

If you bought something weeks or even months ago and didn’t update your insurance, you’re not alone. Life gets busy, and it’s easy to forget to make adjustments after a big purchase.

The good news: it’s not too late. Your agent can review what you’ve added to your home or garage and make recommendations for getting everything properly insured moving forward.

Final Thoughts: Enjoy the Month—And Protect What Matters

February often brings memorable purchases—sparkling jewelry, thoughtful gifts, new vehicles, or special pieces of art. Taking a few extra minutes to think about insurance ensures these items are protected long after the excitement of buying them.

If you’re planning a new purchase this month, or if you have items you’ve been meaning to insure, I’m here to help you make sure everything is covered appropriately. A quick conversation can give you peace of mind and help you enjoy your new treasures knowing you’ve taken the right steps to safeguard them.