Ensure Your February Purchases Are Protected

February may be a shorter month, but it's known for some significant purchasing opportunities, especially with Valentine's Day and Presidents' Day coming up. From jewelry to cars, these purchases often hold emotional and financial value, making it crucial to have proper protections in place.

Act Early for Coverage

Big purchases often come with potential risks. It's essential to secure your insurance coverage before using or gifting high-value items such as jewelry or a new car. Coverage gaps can lead to unexpected costs if your new items are damaged, lost, or stolen soon after purchase.

When Standard Coverage Isn’t Enough

Many assume their standard homeowner's policy will cover all valuables, but these policies often have sublimits, especially for items like jewelry and art. To ensure full protection, consider adding specific riders or separate coverage for these items, which can cover situations like accidental damage or theft.

Understanding New Vehicle Insurance

Presidents' Day is a popular time for car purchases. Most insurers offer a grace period for new vehicles where your current policy might extend coverage temporarily. However, check your policy specifics to ensure comprehensive protection and adjust it for your new vehicle promptly.

Keep Detailed Records

Proper documentation of your valuable purchases is vital. Keeping receipts, photos, and appraisals organized can simplify filing claims and ensure accurate coverage. Additionally, consider storing digital copies in secure cloud storage for easy access.

Don’t Delay—Review Your Coverage Now

If you've recently made significant purchases or plan to soon, reviewing your insurance can prevent future headaches. Even if you're slightly behind on this task, it's not too late to consult with your insurance agent to align your coverage with your needs.

As February brings opportunities for memorable acquisitions, taking these proactive steps will protect both the sentimental and financial aspects of your new purchases.