February may fly by, but it has a way of encouraging big spending. From Valentine’s Day gifts to Presidents’ Day car sales, many people find themselves bringing home purchases that carry both emotional meaning and financial value. Because these items can be costly or sentimental, it is essential to make sure they’re properly insured from the moment they enter your life.

It’s easy to get caught up in the excitement of choosing something special—whether it’s a sparkling piece of jewelry, a new-to-you vehicle, or a long-awaited piece of art. Before you slip that ring on a finger, mount a painting on the wall, or drive a new car off the lot, there’s an important step that many overlook: confirming that your insurance coverage actually protects your purchase.

This rewritten blog explores the key types of coverage to review for Valentine’s Day and Presidents’ Day buys, including jewelry, collectibles, fine art, and vehicles. You’ll also find tips for organizing documentation so that filing a claim, if you ever need to, feels less stressful.

Why It’s Important to Confirm Coverage Early

When it comes to high-value items, waiting to “get around” to the insurance can be risky. Losses can occur the same day you purchase something—during your drive home, while traveling, or even while gifting the item. The safest approach is to ensure that adequate protection is in place before you begin using or presenting the item.

February is especially relevant for this. A proposal ring, an heirloom-quality watch, a Presidents’ Day car purchase, or a new piece of artwork each has different levels of risk and value. The right coverage ensures that if the unexpected happens, you’re not left discovering gaps in your policy at the worst possible time.

Jewelry, Fine Art, and Collectibles: Why Standard Homeowners Insurance Isn’t Enough

Many people believe their homeowners policy automatically covers all valuables in full. In reality, most standard policies include sublimits for categories like jewelry and art. These limits are often low—commonly in the $1,000 to $5,000 range—which might not come close to replacing a high-value gift.

This is where optional coverage becomes essential. Jewelry, fine art, and collectibles often require additional protection beyond a basic homeowners policy. Adding a scheduled personal property endorsement allows you to insure individual pieces for their appraised value, providing more comprehensive protection. These add-ons frequently cover types of loss that standard policies exclude, such as accidental damage or mysterious disappearance.

Most insurers will ask for an up-to-date appraisal before scheduling an item. These values should be refreshed every few years so your coverage remains accurate. Art collectors may even need a specialized fine art policy that covers worldwide transit, restoration, and other niche risks—especially if the piece is moved frequently or displayed outside the home.

Additional reminders for protecting high-value February gifts:

• If you pass jewelry on to someone else, coverage does not automatically follow the item. The new owner must add it to their own insurance.
• For especially valuable pieces, look into personal articles policies offered by major carriers like State Farm, Travelers, or Liberty Mutual.
• Keep copies of receipts, appraisals, photographs, and serial numbers. These documents help establish ownership and value when filing a claim.

While the emotional weight of a gift may be priceless, the financial aspect still deserves thoughtful protection.

Buying a New Car? Understand Your Grace Period

Presidents’ Day is a popular time to shop for a new vehicle, and fortunately, many insurers offer an automatic grace period after you purchase one. This temporary coverage typically lasts between seven and thirty days—often closer to fourteen to thirty—and mirrors the coverage you already carry on another vehicle in your household.

There are some key details to keep in mind:

• You must already have an active auto policy for the grace period to apply. If you don’t currently have auto insurance, you generally need to secure coverage before driving the car home.
• If you insure multiple vehicles, the new one usually adopts the broadest coverage among them—temporarily.
• Your temporary coverage matches what you already have. For example, if your existing car only has liability, the new one will too, until you formally update your policy.

Before the grace period expires, make sure your new car is properly added to your policy. If you’re financing or leasing, lenders typically require comprehensive and collision coverage and may also require—or strongly recommend—gap insurance to bridge the difference between the loan balance and the vehicle’s actual cash value.

If you’re replacing an older vehicle, remember to remove it from your policy once it’s sold or traded in so you’re not paying for unnecessary coverage.

When purchasing a new vehicle, make it a habit to:

• Notify your insurer as soon as possible to update your coverage.
• Adjust limits and deductibles so they align with your new vehicle’s value and your comfort level.
• Update driver information, garaging address, and usage (commute, business, etc.).
• Keep copies of your purchase documents, registration, and insurance ID card for quick reference.

Recordkeeping Tips for Smoother Claims

No matter what you’re insuring—vehicles, jewelry, artwork, or collectibles—good documentation is one of the strongest tools you have.

Keep receipts, appraisals, and serial numbers organized and accessible. These records are often required to establish coverage in the first place, and they make claims smoother if something goes wrong.

Consider taking these additional steps:

• Store digital copies of receipts and photos in secure cloud storage.
• Photograph all new purchases thoroughly, including unique details or identifying marks.
• Review your auto and home policies annually, especially after major purchases.
• Ask your insurance agent about bundling or multi-policy discounts after adding new items.

If You’re Late Adding Coverage, Don’t Stress

If you made a big purchase weeks—or even months—ago and didn’t update your policy yet, you’re not alone. Life gets busy, and insurance updates often fall to the bottom of the to-do list.

The good news: it’s rarely too late to get on track. An agent can review your recent purchases, help you determine if certain items need to be scheduled, and make sure your policies reflect what you currently own.

Enjoy February—And Protect What Matters

Valentine’s Day and Presidents’ Day often inspire purchases that become lasting memories—whether it’s a romantic piece of jewelry, a new vehicle, or a meaningful work of art. Taking a bit of time to confirm the right insurance coverage ensures that these items are protected both emotionally and financially.

If you’re planning to add something new to your home or life this February—or if you have recent purchases waiting to be insured—we’re here to help you make sure everything is covered properly. A quick conversation can give you peace of mind, so you can enjoy your new gift or purchase knowing it’s protected.