February may be one of the shortest months, but it often brings some of the year’s biggest spending moments. From Valentine’s Day jewelry and heartfelt gifts to Presidents’ Day car sales and special purchases, many people make meaningful investments during the winter season. These items typically carry emotional significance — and a hefty price tag — which makes proper protection essential from the moment you bring them home.

It’s easy to get wrapped up in the excitement of buying a new ring, spotting the perfect painting, or driving away in a car you’ve been eyeing for months. But before you propose with that ring, hang up new artwork, or head out for your first drive, there’s an important step to consider: ensuring your insurance actually covers the things you care about.

This post breaks down the key coverage considerations for popular February purchases like fine jewelry, art, collectibles, and new vehicles. It also highlights helpful recordkeeping habits that can make everything from policy updates to future claims much smoother.

Why It’s Important to Secure Coverage Before Using a New Item

High-value items can be vulnerable the moment they leave the store. Jewelry can be misplaced or stolen, art can be damaged during transport, and new cars face risks as soon as they hit the road. While it’s tempting to handle the insurance details “later,” that delay can leave you exposed to losses you could otherwise avoid.

This is especially true in February, when many purchases are gifts or tied to specific celebrations. Whether it’s an engagement ring, an expensive watch, a collector’s piece, or a newly financed vehicle, getting the right protection in place early helps ensure you’re not facing unexpected out-of-pocket costs if the unexpected happens.

Jewelry, Art, and Collectibles: What Standard Homeowners Policies Miss

Many people assume that their homeowners policy automatically covers valuables for their full value. In reality, most policies include low limits — often only a few thousand dollars — for categories like jewelry, artwork, and collectibles. This can fall far short of the actual worth of a high-end watch, diamond ring, or original artwork.

That’s why many valuable items need additional protection. A scheduled personal property endorsement (sometimes called a rider) allows you to insure items individually for their full appraised value. These endorsements can also include protection for scenarios not typically covered under a standard policy, such as accidental damage or mysterious disappearance.

For items you plan to schedule, a recent appraisal is usually required, and values should be refreshed every two to three years. Some artwork may even require a specialty fine art policy, especially if pieces are loaned to galleries or transported frequently.

Here are a few reminders to keep in mind for jewelry and other high-value gifts:

• If you give a piece of jewelry to someone else, the coverage does not transfer automatically. The recipient needs to add it to their own policy.
• For particularly valuable items, consider a dedicated “personal articles” or “valuable items” policy offered by many large insurers.
• Keep receipts, appraisals, serial numbers, and photos. These documents are crucial both for obtaining coverage and for supporting future claims.

A special gift or collectible may have irreplaceable sentimental value, but its financial worth can be safeguarded with thoughtful planning.

New Cars: Understanding Grace Periods and What Comes Next

Presidents’ Day often brings major discounts on cars, trucks, and SUVs. When you purchase a new vehicle, most insurers provide an automatic grace period — typically ranging from seven to 30 days — during which your existing auto policy extends to the new car. In many cases, the new vehicle temporarily receives the broadest coverage available on any car currently insured under your policy.

There are several important points to keep in mind:

• You must already have an active auto policy in place for the grace period to apply. If you don’t have current coverage, you’ll need to secure insurance before driving the new vehicle.
• The temporary coverage reflects your existing policy. If your old vehicle has liability-only coverage, the new one will generally have liability-only protection until you make updates.
• Financed or leased vehicles typically require comprehensive and collision coverage, and lenders may strongly encourage gap insurance.

As you transition to your new vehicle, be sure to:

• Notify your insurer as soon as possible to officially add the car to your policy.
• Adjust coverage levels to match the value of the new vehicle.
• Update information such as drivers, usage, and garaging location.
• Keep your bill of sale, registration, and insurance ID card handy.

And don’t forget to remove any car you no longer own from your policy so you aren’t paying for unnecessary coverage.

Recordkeeping Basics That Make a Big Difference

No matter what you’re protecting, organized documentation is one of the most valuable tools you have. Clear records help establish ownership, confirm value, and speed up claims processing if something happens.

Strong recordkeeping habits include:

• Saving receipts, appraisal documents, and serial numbers for all high-value items.
• Keeping digital copies of essential records in a secure online location.
• Photographing newly purchased items from multiple angles.
• Reviewing your home and auto insurance annually to ensure coverage aligns with what you own.
• Asking whether adding new valuables or vehicles makes you eligible for bundling or multi-policy discounts.

If You Haven’t Updated Coverage Yet, You’re Not Alone

It’s common for people to buy something meaningful, plan to “handle the insurance later,” and then forget. The good news is that it’s not too late. Your agent can help review any recent purchases, recommend the right protection, and update your policy moving forward.

Enjoy February — and Protect What Matters Most

February purchases often become lasting memories — whether it’s a sparkling piece of jewelry, a new vehicle, or art that instantly upgrades your space. Taking a few minutes to confirm the right insurance coverage ensures those memories are protected from both emotional and financial loss.

If you’re planning a new purchase this month or have items you haven’t insured yet, now is the perfect time to take action. With the right coverage in place, you can enjoy your new belongings with complete confidence.