Protecting Your February Purchases: Jewelry, Art, and New Cars

February may be the shortest month of the year, but it often comes with some of the biggest spending. Between Valentine’s Day gifts and major Presidents’ Day sales, many people bring home meaningful purchases during this time. Whether it is a romantic piece of jewelry, a new vehicle, or a unique art piece, these items typically hold both sentimental and financial importance—making proper protection essential.

It is easy to get caught up in the excitement of choosing the perfect gift or finally investing in something special for yourself. But before that new item is worn, displayed, or driven, there is one crucial step to take: confirming that your insurance coverage is prepared to protect it.

This rewritten blog walks through key considerations for safeguarding February purchases, including jewelry, fine art, collectibles, and newly purchased vehicles. You will also find helpful tips on recordkeeping so you can avoid surprises if you ever need to file a claim.

Why Insurance Should Come First

High-value purchases are vulnerable from the moment they leave the store. Items can be lost, damaged, or stolen during the ride home, while traveling, or even as they are being opened as gifts. That is why securing coverage early is one of the smartest steps you can take.

February often brings a mix of sentimental and high-value items: engagement rings, collectible watches, special artwork, or a vehicle bought during a holiday sale. Each of these requires different insurance considerations. Your goal is simple—ensure your coverage matches the value and risk associated with each purchase, so you are not left dealing with gaps when you need support the most.

Jewelry, Art, and Collectibles: When Homeowners Insurance Isn’t Enough

A common misconception is that a standard homeowners policy automatically covers expensive valuables at full value. In reality, many of these policies include strict sublimits on categories like jewelry or fine art. It is not unusual for claims in these categories to be capped between $1,000 and $5,000—far below the value of many gifts acquired around Valentine’s Day.

To close this gap, additional protection is often necessary. High-value pieces like rings, original artwork, and rare collectibles can be covered through a scheduled personal property rider. This endorsement allows you to insure each item for its full appraised value and can also extend protection to situations typically excluded from basic policies, such as accidental damage or unexplained disappearance.

Scheduling an item usually requires a recent appraisal. These values should be revisited every few years to ensure the policy continues to reflect the item’s true worth. Fine art, in particular, may need a specialized policy that covers transit, restoration, or damage that occurs worldwide—critical if you relocate, travel with art pieces, or loan them to galleries.

A few helpful reminders for high-value February gifts:

• Insurance coverage does not transfer automatically when jewelry is gifted or inherited—the new owner must add it to their own policy.
• Some insurers offer dedicated “valuable items” or “personal articles” policies for more expensive or unique pieces.
• Keep updated receipts, photos, appraisals, and serial numbers. These documents help establish ownership and speed up the claims process.

Romantic gifts and irreplaceable treasures may hold emotional significance, but their financial value deserves protection as well.

Buying a New Car? Understand Grace Periods and Next Steps

Presidents’ Day is historically associated with major vehicle sales, and many drivers leave the lot with a new car, SUV, or truck. Fortunately, most insurance companies offer a temporary grace period that extends your existing auto coverage to the new vehicle. This period typically ranges from seven to 30 days, with many falling between 14 and 30 days.

During this window, the newly purchased car usually receives the same coverage you have on another vehicle on your policy. But several details are important to understand:

• The grace period typically applies only if you already have an active auto policy. If you do not currently carry auto insurance, you must secure a policy before driving the new car.
• If multiple vehicles are insured, the new one often adopts the broadest coverage currently on the policy—at least temporarily.
• Your temporary coverage cannot exceed what you already carry. If your current car only has liability insurance, your new vehicle will also be liability-only until you update your policy.

Before the grace period expires, make sure your new car is formally added to your auto policy. If you are financing or leasing, lenders usually require both comprehensive and collision coverage and may also recommend gap insurance to protect against depreciation-related losses.

And do not forget to remove any traded-in or sold vehicles from your policy so you are not paying for unnecessary coverage.

Whenever you bring home a new vehicle, it is wise to:

• Contact your insurer immediately or soon after purchase to update your policy.
• Review your coverage limits and deductibles to match the new vehicle’s value.
• Confirm details such as drivers, parking location, and how the vehicle will be used.
• Keep copies of essential documents like the bill of sale, registration, and insurance ID card.

A quick call to your agent ensures your new car is fully protected from day one.

The Importance of Organized Records

Whether you are insuring a new ring, a piece of fine art, or a vehicle, good documentation can save time and stress later. Storing accurate records makes it easier to set up policies, verify ownership, and handle claims.

A few ways to stay organized include:

• Keeping receipts, appraisals, and serial numbers in a safe location.
• Storing digital copies of documents and photos in secure online storage.
• Taking multiple photos of new purchases—including distinguishing features—to aid with identification.
• Reviewing your auto and homeowners policies annually or after major purchases to ensure coverage aligns with what you own.
• Asking your agent about potential discounts for bundling new valuables or vehicles.

These simple habits create a clean digital and physical paper trail that helps your insurer respond quickly if something goes wrong.

If You Are a Little Behind, You’re Not Alone

If you bought something weeks—or even months—ago but never updated your insurance, there is still time to fix it. Many people delay this step in the excitement of enjoying their new purchase.

An agent can walk you through next steps, review what you bought, and recommend whether certain pieces should be scheduled. The goal is to make sure your coverage moves forward with accuracy and peace of mind.

February Brings Memorable Purchases—Make Sure They’re Protected

Valentine’s Day and Presidents’ Day often bring meaningful, high-value items into your life—from sparkling jewelry to exciting new vehicles. Spending a little time ensuring your insurance is up to date is a smart way to protect both your investment and your peace of mind.

If you are planning to bring something new home this February—or if you have recent purchases you have not insured yet—we are here to help you make sure everything is properly covered. A quick conversation can give you confidence that your favorite new items are protected from the start.