Protecting Your Valentine’s Day and Presidents’ Day Purchases

February may be the shortest month of the year, but it often brings some of the biggest purchases. Between romantic Valentine’s Day gifts and major Presidents’ Day sales, many people bring home meaningful items during this stretch of winter. Whether it’s a sparkling piece of jewelry, a new car, or a special piece of artwork, these purchases usually hold both emotional and financial value. That makes it essential to give some thought to protecting them before they’re gifted, used, or displayed.

The excitement of finding the perfect ring, scoring a great deal on a vehicle, or finally bringing home that long-admired art piece can easily take center stage. But before you slip on the jewelry, hang the artwork, or take your new ride for a spin, there’s a behind-the-scenes step worth prioritizing: ensuring that your insurance coverage is strong enough to protect it if the unexpected happens.

This rewritten blog walks through the key insurance considerations for February’s most common purchases, including jewelry, fine art, collectibles, and new vehicles. It also highlights simple recordkeeping habits that can make life easier if you ever need to file a claim.

Why Insurance Matters Before You Use or Gift Something

When it comes to high-value items, waiting to think about insurance can leave you exposed. Losses can happen instantly—on the way home from the jeweler, before a proposal, during a trip, or even as the item is being given as a gift. That’s why it’s often smart to secure coverage before the item changes hands or becomes part of your regular routine.

This is especially true in February. A proposal-worthy piece of jewelry, a collector’s watch, an eye-catching painting, or a vehicle purchased during a Presidents’ Day sale each comes with its own unique risks. The idea is simple: your coverage should accurately reflect the value of the item so you don’t face unpleasant surprises if you ever need to file a claim.

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

Many people assume their homeowners insurance fully protects their valuables. In reality, most standard policies place dollar limits—called sublimits—on categories like jewelry and fine art. That means a basic policy may only cover a small portion of what your item is actually worth, typically somewhere in the $1,000–$5,000 range.

To ensure fuller protection, you may need additional coverage. High-value jewelry, fine art, or collectibles often require extra protection beyond the standard homeowners policy. One common solution is a scheduled personal property rider. This add-on lists your valuable items individually and covers them for their full appraised value. It can also provide protection for incidents that ordinary homeowners policies may not cover, including accidental damage or mysterious disappearance.

If you plan to schedule an item, most insurers will ask for a recent appraisal. These values should be updated every few years to keep your coverage current. High-end artwork may even need a specialty policy, especially if you transport pieces, loan them to galleries, or move frequently.

Here are a few additional reminders for February gifts and other valuables:

• If you give or inherit jewelry, the insurance doesn’t automatically transfer—the new owner must add it to their own policy.
• For especially valuable items, consider standalone “valuable items” or “personal articles” coverage, which many major carriers offer.
• Keep documentation such as receipts, photos, serial numbers, and appraisals. These not only help establish insurance coverage but also make claims processing far smoother.

Even if the sentimental value is what matters most, the financial side can and should be protected through the right insurance approach.

New Cars: Understanding Grace Periods and Next Steps

Presidents’ Day is a prime time to shop for cars, trucks, and SUVs. Fortunately, many insurers automatically extend your existing auto insurance to a new vehicle for a short period of time. This grace period varies by carrier but typically lasts between seven and 30 days, with most falling in the 14–30 day range. During this window, your new vehicle generally adopts the coverage limits and types already applied to another car on your policy.

There are a few important details to keep in mind:

• The grace period typically only applies if you already have an active auto policy. If you don’t have coverage at the time of purchase, you’ll need insurance before driving the new vehicle.
• If you insure multiple vehicles, the new one often receives the broadest coverage among them—though only for the length of the grace period.
• The temporary coverage mirrors what you currently carry. For example, if your existing policy only includes liability coverage, the new car will generally only have liability until you make updates.

Before the grace period expires, make sure your new vehicle is fully added to your policy. If you’re leasing or financing it, your lender may require comprehensive and collision coverage, and in many cases may also recommend gap insurance to cover the difference between your loan balance and the car’s actual cash value.

Also keep the old-to-new transition in mind. If you’re trading in or selling an older car, be sure to remove it from your policy once the transaction is complete so you’re not paying for coverage you don’t need.

Each time you buy a car, whether during Presidents’ Day sales or another time of year, try to:

• Contact your insurer promptly—ideally before leaving the dealership—to update your policy.
• Review and adjust coverage limits and deductibles to match your new vehicle’s value and your comfort level.
• Confirm driver information, garaging details, and how the vehicle will be used (such as commuting or business use).
• Keep copies of the bill of sale, registration, and your insurance ID card handy for both everyday use and potential claims.

One quick phone call or email can help ensure your new vehicle is fully protected from day one.

Recordkeeping Tips for Faster, Easier Claims

No matter what kind of purchase you’re protecting—jewelry, artwork, collectibles, or a vehicle—strong recordkeeping is a major advantage. Having complete records makes it easier to establish the value of your belongings and simplifies the claims process if something ever goes wrong.

Consider the following habits:

• Keep receipts, appraisals, and serial numbers organized and accessible.
• Store digital versions of key documents in secure cloud storage.
• Photograph new purchases, including distinguishing details, to help with identification.
• Review your home and auto insurance annually or after major purchases to confirm your coverage keeps pace with your possessions.
• Ask your agent about potential savings—sometimes adding new coverage unlocks discounts in other areas.

Building a clear paper and digital trail can save time, reduce stress, and help your insurer respond quickly and accurately.

If You’re Behind, You’re Not Alone

If you purchased something recently—or even months ago—and never got around to updating your insurance, don’t panic. People often delay this step, especially when they’re excited to use or give the item.

The important thing is to take action now. An agent can walk through what you’ve purchased, determine whether any items should be scheduled, and ensure your policies reflect your current needs moving forward.

Final Thoughts: Protect the Purchases That Matter

February often brings some of the most meaningful purchases of the year, whether it’s a memorable Valentine’s Day gift or a new vehicle from a holiday sales event. Spending a little time ensuring those items are properly insured is a smart way to protect both their sentimental and financial value.

If you’re planning a significant purchase this February—or if you’ve recently brought something home that you haven’t insured yet—now is the perfect time to make sure it’s covered. With the right protection in place, you can enjoy your new jewelry, artwork, or vehicle with confidence knowing you’ve taken the right steps to safeguard it.