February may be brief, but it often brings some of the year’s biggest shopping moments. From Valentine’s Day jewelry and heartfelt gifts to major Presidents’ Day car deals, it’s a month filled with meaningful purchases. Many of these items carry both emotional significance and real financial value, which is why making sure they’re adequately protected should be a priority.

It’s easy to get swept up in the excitement of selecting a special piece of jewelry, finding a long-awaited work of art, or driving home in a new vehicle. But before those items are gifted, worn, displayed, or taken for a spin, it’s essential to confirm that your insurance will provide the protection you expect if something unexpected happens.

This rewritten guide walks you through key coverage considerations for the purchases many people make around Valentine’s Day and Presidents’ Day—whether it’s jewelry, art, or a brand-new car—along with smart recordkeeping habits to keep in mind.

Why Insurance Should Come Before the Big Reveal

When you’re purchasing something valuable, waiting to sort out insurance later can put you at real risk. Items can be lost, damaged, or stolen in the earliest moments—while traveling, during transport home, or even as a gift is being exchanged. For high-value gifts, the safest approach is to have coverage in place before the item changes hands or enters everyday use.

This is especially true in February. Engagement rings, collectible watches, Presidents’ Day auto deals, or newly acquired artwork each bring their own considerations. The goal is simple: align your insurance with the item’s value and exposure to risk so that you’re not surprised by gaps in protection when you need help.

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

Many people assume their homeowners insurance automatically covers every valuable item at full replacement value. In reality, most standard policies include strict coverage limits—particularly for jewelry and fine art. It’s not uncommon for a basic policy to cap jewelry or art claims at $1,000–$5,000, an amount that may be far below what your item is actually worth.

That’s why supplemental protection is often needed. High-value jewelry, heirlooms, and fine art typically require additional coverage to ensure they’re fully insured. A scheduled personal property endorsement allows you to list an item individually on your policy so that it’s protected for its full appraised value. These endorsements may also include protections not found in standard coverage, such as accidental damage or unexplained loss.

To add an item to a schedule, insurers generally require a recent appraisal. For accuracy, these valuations should be updated every few years. In the case of fine art, you may need a specialized policy that includes transit protection, restoration coverage, and damage protection worldwide—important for people who move frequently, loan artwork, or travel with their pieces.

A few helpful reminders for February gifts and other treasured possessions:

• Coverage doesn’t transfer automatically when jewelry is gifted or inherited. The new owner must add it to their own insurance policy.
• For particularly valuable items, consider standalone policies such as “personal articles” or “valuable items” insurance offered by major carriers.
• Keep documentation—receipts, appraisals, serial numbers, and photos. These not only help with coverage but also streamline the claims process.

Sentimental items may be priceless emotionally, but their financial value should still be protected through the right coverage.

New Cars and Presidents’ Day Deals: Understanding Grace Periods

Presidents’ Day continues to be a major weekend for vehicle purchases. Fortunately, many insurers automatically extend your current auto coverage to a newly purchased car for a short period—often between seven and 30 days, with many carriers offering around two weeks to a month. During that time, the new vehicle usually receives the same protections as another car already listed on your policy.

However, there are important details to understand:

• The grace period only applies if you already have an active auto policy in place. If you don’t currently have insurance, you’ll need to obtain coverage before driving your new vehicle.
• If you have multiple cars on your policy, the new vehicle may temporarily receive the broadest level of coverage among them—but only within the grace period window.
• The temporary protection mirrors your existing policy. For example, if your current vehicle only has liability coverage, the new car will typically only have liability until you make updates.

Before your grace period expires, you must officially add your new car to your policy. If your vehicle is leased or financed, your lender will likely require collision and comprehensive coverage, and may also encourage gap insurance to protect against the difference between the loan balance and the vehicle’s actual cash value.

Don’t forget the opposite side of the transaction as well: if you’re trading in or selling an older car, make sure that vehicle is removed from your policy so you’re not paying for coverage you no longer need.

Whenever you purchase a new car—holiday sale or not—keep these habits in mind:

• Notify your insurer before leaving the dealership or as soon as possible to update your policy.
• Review and adjust deductibles and coverage levels to reflect the value of your new car.
• Make sure driver information, garaging locations, and vehicle use details are correct.
• Hold onto your bill of sale, registration, and insurance ID for easy access and claims verification.

Recordkeeping Tips for Smooth Claims and Accurate Coverage

Good documentation is one of the best tools available when insuring valuable purchases—whether it’s jewelry, a collectible, a work of art, or a vehicle. Proper records make it easier to establish coverage, verify ownership, and simplify the claims process.

To stay organized, consider:

• Keeping receipts, appraisals, and serial numbers together in a secure place.
• Saving digital copies of key documents and photos in secure online storage.
• Photographing new purchases from multiple angles for identification purposes.
• Reviewing your home and auto policies annually to ensure coverage limits align with what you own.
• Asking your agent about bundling discounts after adding new valuables or vehicles to your policies.

Establishing both a physical and digital trail can help your insurer respond quickly and accurately if you ever need to file a claim.

If You’re Behind on Insurance, Don’t Stress

If you bought something last month—or even longer ago—and never got around to adding it to your policy, you’re far from alone. Life gets busy, and it’s easy to forget this step once the excitement of using something new sets in.

The upside is that there’s still time to get things in order. An insurance professional can walk you through what you’ve purchased, recommend whether certain items should be scheduled, and help you update your policies so that your coverage reflects your current lifestyle.

Enjoy February While Protecting What Matters Most

Valentine’s Day and Presidents’ Day often bring memorable purchases—sparkling gifts, new vehicles, works of art, and meaningful collectibles. Investing a little time to make sure these items are properly insured can help you protect both their sentimental and financial value.

If you’re planning a special purchase this February or want to review items you already own, now is a great time to ensure they’re covered. A simple conversation with your insurance professional can provide peace of mind, letting you enjoy your new treasures knowing you’ve taken steps to safeguard them.