February might be the shortest month of the year, but it has a remarkable way of encouraging big spending. From romantic Valentine’s Day gifts to major Presidents’ Day sales events, many people make meaningful purchases during this winter stretch. Whether you're investing in jewelry, buying a new car, or adding fine art to your home, these items often hold both emotional significance and substantial financial value. That’s why making sure they’re properly insured is a crucial step — ideally before you gift them or start using them.

Why Insurance Should Be Part of the Plan

It’s easy to get swept up in the excitement of a new purchase. The moment you find the perfect necklace, bring home a long-awaited painting, or take advantage of a can’t-miss auto deal, you want to enjoy it right away. But coverage gaps can appear when you least expect them. Items can be lost, stolen, or damaged before you even have a chance to fully appreciate them — on the way home, during travel, or while being gifted.

Because Valentine’s Day and Presidents’ Day involve purchases that are often high in value or sentiment, securing the right insurance ahead of time is essential. Matching the policy to the item’s worth and risk level ensures you aren’t caught by surprise if something happens.

Jewelry, Art, and Collectibles: Coverage Beyond the Basics

Many people assume their homeowners insurance automatically covers all valuables at their full value. In reality, most standard policies include strict limits — particularly for categories like jewelry and fine art. It’s not uncommon for these caps to fall between $1,000 and $5,000, which might be only a fraction of what your purchase is worth.

That’s where additional protection becomes important. High-value items such as engagement rings, luxury watches, sculptures, or paintings often require supplemental coverage. Adding a scheduled personal property endorsement allows you to insure items individually at their appraised value. This not only ensures you’re reimbursed appropriately if something happens but can also extend protection to types of loss not typically covered by standard policies, like accidental damage or mysterious disappearance.

Most insurers require a current appraisal to schedule an item. Plan to refresh these valuations every few years so your coverage stays accurate. For fine art, you may even need a dedicated policy that accounts for transit, restoration, or damage occurring anywhere in the world — especially helpful if you lend pieces to galleries or move homes.

Helpful reminders for valuable February gifts:

• Coverage doesn’t automatically transfer when jewelry is gifted or inherited — the new owner must add it to their own policy.
• For especially valuable items, consider stand-alone “personal articles” or “valuable items” policies offered by major carriers.
• Keep documentation organized: receipts, appraisals, photos, and serial numbers are essential for establishing coverage and filing claims.

Sentimental gifts may be priceless emotionally, but the financial value is still worth safeguarding.

Buying a New Car? Understand Grace Periods and Coverage

Presidents’ Day weekend often brings some of the best car deals of the year. Fortunately, most insurance companies offer temporary protection when you purchase a new vehicle, automatically extending your current policy for a short period — usually between seven and 30 days, with many providers falling in the two- to four-week range.

During this grace period, your new car typically receives the broadest coverage already active on your existing vehicles. However, this protection is not without limitations, and understanding them is key to avoiding unintentional gaps.

Important details about grace periods:

• You must already have an active auto policy for the grace period to apply. If you don’t, you’ll need coverage before driving your new car.
• If multiple cars are insured, the new one usually inherits the highest level of coverage among them — but only temporarily.
• Your new car mirrors your current protection. If your existing car has liability-only, your new one will have the same until you update the policy.

After you’ve purchased the car, you’ll need to contact your insurer before the grace period ends to add the vehicle formally. If you’re financing or leasing, expect your lender to require comprehensive and collision coverage. They may also strongly recommend gap insurance, which covers the difference between what you owe and the vehicle’s current value.

If you’re trading in or selling an older car, don’t forget to have it removed from your policy to avoid unnecessary costs.

When you bring home a new vehicle, make a habit of:

• Calling your insurer as soon as possible to add the car to your policy.
• Adjusting coverage and deductibles based on the car’s value and how much risk you're comfortable with.
• Updating driver information, usage details, and garaging location.
• Keeping records like your bill of sale, registration, and insurance ID card somewhere easy to access.

A quick update to your policy can ensure you’re fully covered from the moment your new vehicle hits the road.

Recordkeeping: A Small Habit With Big Benefits

No matter what you’ve purchased — a diamond bracelet, a painting, a rare collectible, or a new SUV — maintaining good records is one of the most effective ways to protect yourself. Thorough documentation helps insurers verify ownership, value, and details quickly if a claim ever becomes necessary.

To stay organized, consider these habits:

• Save digital copies of receipts, appraisals, serial numbers, and VINs in secure cloud storage.
• Photograph both new and existing valuables, capturing every angle and distinctive feature.
• Review your home and auto policies once a year or after significant purchases to ensure your coverage still fits your needs.
• Ask your agent whether adding new items qualifies you for bundling or multi-policy discounts.

These simple steps create a clear, accessible record that can make the claims process much smoother.

If You’re Late to the Game, Don’t Stress

If you bought something months ago — or even longer — and never got around to updating your insurance, you're certainly not alone. Life gets busy, and it’s easy to get caught up in enjoying a new purchase. The good news is it’s not too late. Your agent can review what you’ve added to your home or garage and recommend any necessary coverage adjustments moving forward.

Final Thoughts: Enjoy the Month, and Protect What Matters

February brings meaningful celebrations, major sales, and purchases that often represent important milestones. Taking a few minutes to think about insurance ensures that your investment — both financial and emotional — is secure. Whether you’re preparing to give a special gift, browsing Presidents’ Day deals, or simply catching up on overdue insurance updates, the right coverage can offer real peace of mind.

If you’re planning a new purchase or want help reviewing recent ones, I’m here to make sure everything you value is fully protected.