February may fly by, but it often brings a surge of meaningful spending. From Valentine’s Day gifts to Presidents’ Day vehicle sales, this time of year is full of purchases that carry emotional weight and significant financial value. Before you wear that new necklace, hang a new piece of art, or drive home a new car, it’s essential to make sure those items are properly insured.

It’s easy to get swept up in the excitement of choosing the perfect gift or snagging a great deal. Still, the smartest move you can make is confirming that your insurance will step in if the unexpected happens. This guide breaks down the most important coverage considerations for February’s most popular purchases—plus simple habits that help keep your valuables protected long-term.

Why Insurance Should Come First

When you buy something valuable, waiting to sort out the insurance can leave you exposed. Items can be lost, damaged, or stolen surprisingly quickly—sometimes on the way home from the store or even during the moment of gifting. That’s why it’s wise to have coverage in place before you hand over a present or begin using a new item yourself.

Whether it’s an engagement ring, luxury watch, painting, or Presidents’ Day vehicle deal, each type of purchase comes with different insurance needs. Your goal is to match protection to the actual worth and risk of the item so you don’t run into unpleasant surprises later.

Jewelry, Art, and Collectibles: When Basic Homeowners Insurance Isn’t Enough

A common misconception is that a standard homeowners policy automatically covers all valuables at full value. In reality, policies often include strict limits on categories like fine art and jewelry. Many homeowners are surprised to learn that claims for these items may be capped at $1,000–$5,000—far below what the item may actually cost to replace.

For meaningful purchases like engagement rings, rare collectibles, or original artwork, additional coverage may be needed. A scheduled personal property rider can ensure you’re reimbursed for the full appraised value if something happens. These endorsements often cover situations that basic policies exclude, such as accidental damage or mysterious disappearance.

Insurers usually require a recent appraisal to schedule an item, and it’s wise to refresh those values every two or three years. In some cases, fine art may require specialized coverage that includes protection during transit, restoration, or international travel.

Key Tips for High-Value Gifts

• Gifts and inherited items don’t automatically inherit your policy—new owners must add them to their coverage.
• Higher-value items may be better covered under “valuable items” or “personal articles” policies from carriers such as Liberty Mutual, Travelers, or State Farm.
• Keep receipts, photographs, serial numbers, and appraisal documentation organized. These records are essential when establishing coverage or filing a claim.

Items with emotional significance deserve equally strong financial protection. The right insurance ensures that if anything happens, you’re able to recover the value of what matters most.

Buying a New Car? Understand Grace Periods and Next Steps

Presidents’ Day is a major time for shoppers to take advantage of competitive auto deals. Fortunately, many insurance companies automatically extend your existing auto policy to a newly purchased vehicle for a short window—often between 14 and 30 days.

During this period, the new vehicle usually adopts the broadest coverage already on your policy. However, there are several details to keep in mind:

• You must already have an active auto policy for a grace period to apply. If you don’t currently have insurance, you’ll need a policy before driving the vehicle.
• If you own multiple cars, the new one may receive the highest level of coverage—but only temporarily.
• Your new vehicle will only have the same types of coverage you currently carry. For example, if your existing car only has liability, your new car will also only be protected for liability until you update the policy.

Before the grace period ends, your new purchase must be fully added to your policy. If you lease or finance the car, comprehensive and collision coverage will almost always be required. Lenders may also suggest gap insurance, which helps cover the difference between what you owe and the vehicle’s actual cash value.

If you trade in or sell your old car, be sure to remove it from your policy so you aren’t paying for coverage you no longer need.

Smart Habits When Buying Any New Vehicle

• Notify your insurer before leaving the dealership—or as soon as possible afterward.
• Adjust deductibles and coverage limits to fit the new vehicle’s value.
• Update how the vehicle will be used, who will be driving it, and where it will be stored.
• Keep copies of the bill of sale, registration, and your updated insurance ID card for verification or claims.

A quick call to your insurance agent is often all it takes to ensure your new vehicle has the protection it needs from day one.

Recordkeeping Makes Everything Easier

No matter what you purchase, strong recordkeeping is one of the best ways to protect your investment. Organized documentation helps establish ownership, avoid coverage hiccups, and speed up the claims process.

• Save receipts, appraisals, and serial numbers in both physical and digital formats.
• Store digital copies—such as photos, receipts, or VINs—in secure cloud storage.
• Photograph valuables from multiple angles to simplify identification if lost or stolen.
• Review your insurance policies annually or after major purchases.
• Check with your agent about bundling discounts that may apply when you add new valuables or vehicles.

If You’re Behind, You’re Not Alone

If you purchased something months ago and still haven’t handled the insurance, don’t worry—it’s more common than you think. Your agent can review your items, suggest the right type of coverage, and help bring everything up to date so you’re protected moving forward.

Enjoy the Season and Protect What Matters

February is full of special purchases—sparkling jewelry, new vehicles, or meaningful art and collectibles. Taking just a little time to confirm your insurance coverage can help protect both the emotional and financial investment behind each item.

If you’re planning to bring something new into your life this month, or if you’ve been meaning to insure a recent purchase, we’re here to help make sure you’re fully covered. A quick conversation can give you confidence and peace of mind as you enjoy your new treasures.