Protecting Your February Purchases the Smart Way

February may fly by quickly, but it often brings some of the biggest purchases of the year. Romantic Valentine’s Day gifts, meaningful jewelry, special art pieces, and major Presidents’ Day vehicle deals can add up fast. These items often hold emotional significance as well as financial value, which makes protecting them a priority.

It’s easy to get caught up in the excitement of gifting a necklace, driving home a new car, or finally buying that artwork you’ve admired for months. But before you wrap it, wear it, display it, or take it for a spin, there’s an important step to take: making sure your insurance provides the protection you expect.

This blog walks through what to consider when purchasing jewelry, fine art, collectibles, or a new vehicle during February’s busy shopping season, along with recordkeeping habits that can save you headaches down the road.

Why Insurance Should Be in Place Before You Use a New Purchase

With high-value items, waiting to review coverage isn’t a good idea. Losses can happen unexpectedly, even before the gift is exchanged or before you settle into ownership. Jewelry can go missing on the way home, art can be damaged in transit, and a new car can be involved in an accident minutes after leaving the dealership.

February highlights this risk even more. Gifts like engagement rings, collectible timepieces, Presidents’ Day vehicle purchases, or newly acquired artwork each require thoughtful coverage. The goal is simple: ensure your policy aligns with the value and potential risks associated with your purchase, so you aren’t left with unwelcome surprises later.

Jewelry, Fine Art, and Collectibles: Understanding Coverage Limits

Many people assume homeowners insurance automatically provides full protection for valuables. Unfortunately, most basic policies include strict limits for categories such as jewelry, art, and collectibles. Claims for these items may be capped at just a few thousand dollars, which often falls short of their actual worth.

This is where additional coverage becomes essential. High-value items may need separate protection beyond what standard homeowners policies provide. Adding a scheduled personal property endorsement ensures an item is covered for its full appraised value. These endorsements can also include protection for losses not typically covered under standard policies, such as accidental breakage or mysterious disappearance.

To schedule a valuable item, insurers often require a recent appraisal, and these values should be updated every couple of years to keep coverage accurate. More specialized pieces, such as fine art, may even require separate policies that cover things like transit, restoration, and worldwide protection.

When protecting Valentine’s Day jewelry or other valuable pieces, keep these reminders in mind:

• If you give or inherit jewelry, the coverage does not carry over automatically. The new owner must add it to their own policy.
• For higher-value pieces, look into policies specifically designed for valuables or personal articles, commonly offered by major carriers.
• Hold onto receipts, photos, serial numbers, and appraisals. These documents are essential both for securing proper coverage and for proving value if you ever need to file a claim.

Sentimental items may be priceless emotionally, but their financial value deserves proper protection as well.

Buying a New Vehicle: What to Know About Grace Periods

Presidents’ Day is a popular time to purchase cars, trucks, and SUVs. Many insurers offer automatic temporary coverage for newly purchased vehicles, typically lasting anywhere from a week to a month. During this grace period, your new vehicle usually adopts the same coverage limits you already carry on another car in your policy.

However, there are important details to keep in mind:

• The grace period generally applies only if you already have an active auto policy covering another vehicle. If you don’t have coverage, you usually need to secure insurance before driving your new car.
• If you insure multiple vehicles, the new one typically receives the broadest coverage among them—but only for the duration of the grace period.
• Your temporary protection reflects your current coverage. If you only carry liability right now, that’s all your new car will have until you update your policy.

Before the grace period expires, make sure the new vehicle is officially added to your policy. If the car is financed or leased, the lender will likely require comprehensive and collision coverage, and may strongly recommend gap insurance to cover the difference between your loan balance and the car’s actual cash value.

Also remember to remove any older vehicles you no longer own so you aren’t paying for unnecessary coverage.

Whenever you bring home a new car—whether during Presidents’ Day sales or any other time—be sure to:

• Contact your insurer as soon as possible to update your policy.
• Review your coverage limits and deductibles to match the value of your new vehicle.
• Update details such as drivers, vehicle usage, and garaging address.
• Keep important documents like your bill of sale, registration, and insurance ID card handy.

The Power of Good Recordkeeping

Whether you're purchasing jewelry, artwork, collectibles, or a new vehicle, staying organized is a major advantage. Records such as receipts, serial numbers, appraisals, and photos streamline both the insurance setup and any future claim.

Take your recordkeeping a step further by:

• Storing digital copies of all important documents in a secure cloud location.
• Photographing new items from multiple angles, including any distinguishing details.
• Reviewing your home and auto policies annually or after major purchases to ensure coverage remains aligned with what you own.
• Asking your agent about possible bundling discounts—sometimes adding coverage can reduce costs elsewhere.

These habits help create a clear and thorough record, which can make claim processing faster and more straightforward.

If You’re a Little Behind, Don’t Worry

If you purchased something weeks or even months ago and meant to sort out the insurance later, you’re not alone. Life gets busy, and it’s easy for these details to slip through the cracks.

The good news is that it’s not too late. An agent can help review your recent purchases, determine which items may need special coverage, and make sure your policies are updated to reflect what you currently own.

Final Thoughts: Protect Your February Purchases With Confidence

Valentine’s Day and Presidents’ Day often mark exciting moments—sparkling gifts, new vehicles, meaningful artwork, and memorable collectibles. Ensuring these items are properly protected is a smart way to safeguard the emotional and financial investment behind them.

If you’re planning to add something new to your life this February—or if you’ve recently bought something you forgot to insure—we’re here to help you make sure it’s covered. A quick conversation can give you the peace of mind you need to enjoy your new purchase without worry.