Protect Your February Purchases: Jewelry, Art, Cars, and More

February may fly by quickly, but it often brings a surprising number of big purchases. Valentine’s Day gifts, special pieces of jewelry, meaningful art, and those tempting Presidents’ Day car deals can all add up—both in sentimental and financial value. With so many major buys packed into a short month, it’s important to be sure the items you bring home are fully protected before something unexpected happens.

It’s natural to get caught up in the excitement of the moment—finding the perfect bracelet, landing a great discount on a new car, or finally adding a long‑admired artwork to your collection. But before you slip on that new ring, hang that painting, or pull your new ride out of the dealership lot, there’s one crucial step you shouldn’t overlook: confirming that your insurance coverage is ready to support you if something goes wrong.

This rewritten guide explores the essential insurance considerations for February purchases—from jewelry and collectibles to new vehicles—and offers simple recordkeeping habits that can help protect your investment long after the holiday sales have ended.

Why It’s Important to Confirm Coverage Before Using or Gifting an Item

When it comes to high‑value purchases, waiting until later to review your insurance can come with real risks. Items can be lost, damaged, or stolen almost immediately. A piece of jewelry might slip off on the way home. A gift could be dropped before it’s unwrapped. A new car could be involved in an accident during its very first drive. These situations are uncommon, but they do happen—and without proper coverage, they can be very costly.

February purchases often carry heightened emotional and financial importance. Engagement rings, collectible watches, dealership specials, and newly acquired artwork each require the right kind of protection. By aligning your insurance with the item’s value and risk level upfront, you can avoid unpleasant surprises at claim time.

Jewelry, Art, and Collectibles: Understanding What Your Homeowners Policy Doesn’t Cover

A common misconception is that a standard homeowners policy fully insures all personal valuables. In reality, most policies place specific dollar limits—called “sublimits”—on items like jewelry, artwork, and collectibles. These caps often range from $1,000 to $5,000, which may fall far short of the item’s true value.

To ensure that your most meaningful pieces are properly protected, you may need additional coverage. Many people choose to “schedule” high‑value items by adding a personal property rider or endorsement to their homeowners policy. This type of coverage allows you to insure the item at its full appraised value and often broadens protection to include events not typically covered under a basic policy, such as accidental damage or mysterious disappearance.

Before you can schedule jewelry or fine art, insurers generally require a current appraisal. These valuations should be updated every few years to keep coverage accurate. For fine art, some insurers may recommend or require a specialized policy—especially if pieces are moved between locations, loaned to galleries, or transported for shows.

Here are a few extra tips to keep in mind for Valentine’s Day gifts and other valuable purchases:

• Coverage doesn’t transfer automatically if you give or inherit jewelry. The new owner must add it to their own policy.
• For especially pricey items, consider stand‑alone “valuable items” or “personal articles” insurance available from major carriers.
• Maintain receipts, appraisals, photographs, and serial numbers. These documents help establish value and ownership if you ever need to file a claim.

Sentimental gifts may be priceless emotionally, but their financial value should be protected with the right insurance approach.

Buying a New Vehicle? Know How Grace Periods Work

Presidents’ Day is known for offering some of the year’s most attractive car deals. The good news: most insurers automatically extend temporary coverage to newly purchased vehicles for a short period, often between seven and 30 days. In many cases, the new car receives the broadest coverage of any vehicle already listed on your policy.

Still, there are important details to understand:

• You must already have an active auto insurance policy for the grace period to apply. If you don’t currently have auto coverage, you’ll need to secure a policy before driving your new vehicle.
• If you have multiple insured vehicles, your new car typically inherits the highest level of coverage among them during the grace period.
• The temporary coverage reflects your existing policy. If your current vehicle only has liability insurance, the new one will also be liability‑only until you update your coverage.

Before the grace period expires, make sure your new car is formally added to your policy. Lenders for financed or leased vehicles often require comprehensive and collision coverage, and they may also require or recommend gap insurance—especially important for brand‑new cars that depreciate quickly.

If you’re trading in or selling an older vehicle, don’t forget to remove it from your policy so you’re not paying for unnecessary coverage.

Whenever you purchase a new vehicle, make it a habit to:

• Contact your insurer before driving off the lot or shortly afterward.
• Adjust deductibles and coverage levels to match the value of your new car.
• Update details like drivers, garaging location, and vehicle usage.
• Keep important documents—bill of sale, registration, insurance card—readily available for verification and everyday use.

A quick call or email to your agent ensures you’re fully protected from day one.

Smart Recordkeeping: Your Best Friend During Claims

No matter what you purchase—jewelry, fine art, collectibles, or a new car—organized records make a tremendous difference. Documentation helps verify ownership, establish value, and streamline the claims process if something goes wrong.

Strengthen your protection by following these habits:

• Store receipts, appraisals, and serial numbers safely so they’re easy to access when needed.
• Save digital backups of key documents in secure cloud storage.
• Take photos of new items, including close‑ups of identifying details.
• Review your insurance policies yearly or after significant purchases to confirm that your limits match your belongings.
• Ask your agent whether adding new valuables qualifies you for potential bundling or policy discounts.

Creating a clear paper and digital trail gives you peace of mind and keeps the claims process running smoothly.

If You Haven’t Updated Your Coverage Yet—You Still Can

If you bought something last month, last season, or even last year and forgot to update your insurance, you’re far from alone. Life gets busy, and it’s easy to put off administrative tasks when you’re excited about a new purchase.

The good news: it’s not too late. Your agent can review your items, help determine what needs to be scheduled, and update your policies so your coverage reflects what you actually own.

Enjoy February—and Protect What Matters Most

Whether you’re celebrating Valentine’s Day with a sentimental gift or taking advantage of a Presidents’ Day car special, your February purchases deserve protection. Taking just a little time to confirm the right insurance now can safeguard both your memories and your investment in the long run.

If you’re planning new purchases this month—or if you have recent buys you haven’t added to your policy yet—I’m here to help you make sure they’re properly covered. A quick conversation can bring peace of mind, letting you enjoy your jewelry, artwork, or new vehicle with confidence.