Protecting Your Valentine’s Day and Presidents’ Day Purchases

February may fly by, but it’s often filled with meaningful — and pricey — purchases. From Valentine’s Day jewelry and thoughtful surprises to major Presidents’ Day car deals, many people bring home items this month that hold both emotional and financial significance. With so much value wrapped up in these purchases, making sure they’re properly insured is just as important as picking them out.

It’s easy to get caught up in the excitement of finding the perfect ring, scoring a great discount on a new vehicle, or finally investing in a piece of art you’ve been eyeing for months. Before you gift it, install it, wear it, or drive it away, there’s one essential step to take: confirming that your insurance truly protects you if something unexpected happens.

This guide highlights the key types of coverage to consider for common February purchases, including jewelry, artwork, collectibles, and new vehicles. You’ll also find helpful reminders for keeping your records organized — a small habit that can save you a major headache down the road.

Why You Should Confirm Coverage Before Using or Gifting an Item

When you’re dealing with valuable items, it’s best not to wait to address insurance details. Losses can occur the moment you leave the store, during travel, or even while presenting a gift. Because of that, the safest approach is to have coverage in place before the item changes hands or gets put to use.

February brings plenty of examples — a proposal-ready engagement ring, a limited-edition watch, a Presidents’ Day vehicle purchase, or a newly acquired painting. Each of these comes with different risks and coverage needs. Making sure your insurance matches the value and nature of your purchase helps prevent unwelcome surprises later on.

Jewelry, Fine Art, and Collectibles: Understanding Limits in Standard Policies

Many people assume that homeowner policies automatically provide full protection for all valuables. In reality, most standard policies place strict limits — especially for items like jewelry and fine art. Claims for these categories are often capped at just a few thousand dollars, which may not come close to the item’s actual value.

That’s where additional protection becomes essential. High-value jewelry, fine art, and collectibles often need supplemental insurance to ensure they’re covered at their full appraisal value. A scheduled personal property rider (also called an endorsement) allows you to insure specific items individually, ensuring that if something happens, you can recover the full documented value. These riders may also cover scenarios excluded under standard policies, including accidental breakage or unexplained disappearance.

To schedule an item, insurers typically require a current appraisal. It’s wise to update these valuations every two to three years to make sure your coverage stays accurate. Some art pieces may even need dedicated policies that address issues like global transit, restoration costs, or damage during exhibitions.

A few reminders when purchasing or gifting high-value items:

• If jewelry is given or inherited, insurance does not automatically transfer. The new owner must add it to their own policy.
• For especially valuable items, consider a standalone personal articles or valuable items policy, offered by many major carriers such as Travelers, State Farm, and Liberty Mutual.
• Keep documentation — receipts, photos, serial numbers, and appraisals. These records help establish ownership and value if a claim becomes necessary.

While certain gifts may hold sentimental value beyond replacement, you can still safeguard their monetary worth with the right coverage.

New Cars and Trucks: How Grace Periods Work

Presidents’ Day is known for major auto sales, and many new buyers benefit from automatic insurance grace periods. Most insurers extend your existing auto coverage to a newly purchased vehicle for about one to four weeks, with many falling between 14 and 30 days. During this temporary window, the new vehicle generally receives the same coverage as another car already on your policy.

However, there are a few important details to know:

• Grace periods only apply if you already have an active auto policy. If you don’t currently have coverage, you’ll need insurance in place before driving the vehicle.
• If multiple cars are already insured, the new one usually gets the broadest coverage among them — but only until the grace period ends.
• If your existing vehicle only carries liability coverage, your new car will also be limited to liability until you update the policy.

Once you bring your new vehicle home, be sure to add it to your policy before the grace period expires. If you're leasing or financing, your lender will likely require comprehensive and collision coverage. Gap insurance may also be recommended to bridge the difference between your car’s actual cash value and the remaining balance on your loan.

And don’t forget the flip side: if you’re trading in or selling an older vehicle, remove it from your policy so you're not paying for unnecessary coverage.

To ensure your new ride is protected from the start:

• Contact your insurer before leaving the dealership or shortly afterward to update your policy.
• Adjust deductibles and limits based on the vehicle’s value and your comfort level.
• Review driver information, vehicle usage, and your garaging address.
• Keep digital and physical copies of your bill of sale, registration, and insurance ID card.

Recordkeeping: Simple Habits That Make a Big Difference

Whether you’re dealing with jewelry, art, collectibles, or a vehicle, staying organized can make insurance updates and future claims far easier.

Be sure to keep track of receipts, appraisals, and identifying details like serial numbers. These records not only help with setting up coverage but also streamline potential claims processing.

Consider taking your recordkeeping a step further:

• Store digital copies of appraisals, receipts, photos, and VINs in secure cloud storage.
• Photograph new purchases from multiple angles, including unique markings.
• Review your home and auto policies annually or after a major purchase to make sure your limits reflect what you own.
• Ask your agent about bundling discounts — adding coverage can sometimes unlock savings.

These small habits create a reliable trail of documentation that helps your insurer support you quickly and accurately.

If You Didn’t Update Coverage Right Away, Don’t Stress

If that Valentine’s Day gift or Presidents’ Day purchase has already made it home and insurance slipped your mind, you’re far from alone. Life gets busy, and it’s normal to forget a step or two in the excitement of enjoying something new.

The good news is you can still get the protection you need. An insurance professional can walk through your latest purchases, help determine which items may need to be scheduled, and update your policies to align with your current needs.

Final Thoughts: Enjoy February — and Protect What You Love

This month brings moments worth celebrating and items worth protecting. Whether it’s sparkling jewelry, a new set of wheels, or artwork that makes your home feel complete, a little preparation goes a long way in safeguarding both the emotional and financial investment.

If you’re planning a special purchase this February — or if you have recent buys you’re ready to insure — I’m here to help you make sure everything is properly covered. With a quick conversation, you can enjoy your new belongings with peace of mind, knowing you’ve taken the right steps to protect them.