Safeguard Your Valentine’s Day and Presidents’ Day Purchases

February may be one of the shortest months of the year, but it often brings a surge of meaningful spending. Between Valentine’s Day gifts, sparkling jewelry, heartfelt surprises, and major Presidents’ Day car deals, it’s a month when many people bring home high-value items. These purchases often hold both emotional and financial importance, which is why protecting them should be part of the plan—not an afterthought.

It’s natural to get caught up in the excitement of finding the perfect ring, scoring the right vehicle, or finally investing in a long-admired piece of art. But before these items are worn, gifted, displayed, or driven home, it’s crucial to make sure your insurance coverage is ready to support you if something unexpected happens.

This guide breaks down the types of coverage to consider for your February purchases—from engagement rings and collectibles to vehicles—along with recordkeeping practices that can help simplify the claims process later.

Why You Should Prepare Coverage Before You Use or Gift an Item

When it comes to high-value purchases, “I’ll handle the insurance later” can be a risky approach. New items can be lost, stolen, or damaged surprisingly quickly—sometimes the very same day they’re purchased. Whether something happens on the way home, during a trip, or right at the moment of giving the gift, having coverage in place beforehand can make a world of difference.

This is especially true in February, when many people buy pricey jewelry for proposals, pick up a collector’s watch, take advantage of a Presidents’ Day car promotion, or bring home a new piece of artwork. Each of these purchases comes with its own insurance considerations. The key is to align your coverage with what the item is worth and the risks it may face, so you’re not left with unpleasant surprises during a claim.

Jewelry, Art, and Collectibles: What Standard Homeowners Policies Don’t Cover

One of the most common misconceptions is that a standard homeowners policy automatically offers full protection for valuables. In reality, most standard plans apply limits—often between $1,000 and $5,000—for items like jewelry, collectibles, and fine art. If the value of your item exceeds this limit, you could be significantly underinsured without realizing it.

To properly protect big-ticket gifts and collectibles, many people opt for additional coverage beyond the standard homeowners policy. A scheduled personal property endorsement (sometimes called a rider) lets you insure an item at its appraised value. These add-ons may also cover situations that basic homeowners insurance does not, such as accidental damage or mysterious disappearance.

Most insurers require a relatively recent appraisal before scheduling an item, and updating that appraisal every two or three years keeps your protection aligned with the item’s current value. In some cases—especially with fine art—a specialized policy may make more sense. These often include protections for transportation, restoration, and worldwide damage, which can be valuable if you move, loan artwork to galleries, or travel with pieces.

Here are a few helpful reminders for high-value pieces:

• Jewelry coverage doesn’t automatically transfer when giving or inheriting an item—the new owner must add it to their own policy.
• For expensive jewelry or collectibles, consider stand-alone “valuable items” or “personal articles” insurance, which many national carriers offer.
• Keep organized documentation—photos, receipts, appraisals, and serial numbers—which is essential for both coverage and potential claims.

Sentimental items may be priceless emotionally, but their financial value deserves careful protection.

Buying a New Car? Understand Grace Periods and Next Steps

Presidents’ Day is a major weekend for buying new cars, trucks, and SUVs. Fortunately, most insurers offer a temporary grace period that automatically extends your current auto policy to your new vehicle—usually lasting anywhere from a week up to 30 days. During this time, your new vehicle typically mirrors the coverage and limits already in place on another car listed on your policy.

It’s important, however, to understand a few specifics:

• The grace period typically applies only if you already have an active auto policy. Without existing coverage, you’ll need to secure insurance before driving the new vehicle.
• If you have multiple cars insured, the new one often inherits the most comprehensive level of coverage among them—but only until the grace period expires.
• Your temporary protection reflects your current policy. If you only have liability coverage now, that’s likely all your new car will have until you make changes.

Before the grace window closes, make sure your new car is officially added to your policy. If you’re leasing or financing the vehicle, the lender will almost always require collision and comprehensive coverage. They may also suggest gap insurance, which helps cover the difference between your loan balance and the car’s actual cash value if it’s totaled early in the loan term.

And don’t forget the flip side—if you traded in or sold an older vehicle, you’ll want to remove it from your policy to avoid unnecessary premium costs.

Anytime you bring home a new car, it’s smart to:

• Notify your insurer before driving off the lot or shortly afterward to update your policy.
• Adjust your limits and deductibles based on your new vehicle’s value and your budget.
• Update details like drivers, garaging address, and usage (personal, business, commuting distance).
• Keep a copy of your bill of sale, registration, and insurance ID readily accessible.

A quick conversation with your agent can help ensure your new ride is fully protected from the start.

Recordkeeping Tips to Support Smooth Claims and Coverage

No matter what you purchase—jewelry, art, collectibles, or a vehicle—good documentation is one of the best ways to protect your investment. Organized records make it easier to establish value, verify ownership, and expedite insurance claims.

To stay prepared:

• Maintain copies of receipts, appraisals, and serial numbers for all major purchases.
• Store digital versions of documents and photos in secure cloud storage.
• Photograph new items from multiple angles, capturing unique details or markings.
• Review your home and auto coverage annually or after any significant purchase.
• Ask whether adding new items qualifies you for bundling or multi-policy discounts.

These simple habits create a reliable record that helps insurers respond quickly and accurately.

If You’re Behind on Coverage, You Can Still Catch Up

If you bought something months ago—or even last year—and forgot to update your insurance, you’re not alone. It’s easy to get swept up in the excitement of a new purchase and put the administrative parts on hold.

The good news is that it’s never too late to review your coverage. An agent can walk through what you own, help you determine whether certain items need to be scheduled, and adjust your policies so future protection matches your current lifestyle.

Enjoy the Season—And Protect What Matters Most

Valentine’s Day and Presidents’ Day can bring some of the most memorable purchases of the year, from meaningful jewelry to new vehicles or special collectibles. Taking a few minutes to think through insurance needs before gifting or using those items is a practical way to protect both their sentimental and financial value.

If you’re planning to bring home something new this February—or if you’ve recently purchased something and need help getting it properly insured—I’m here to assist. A quick conversation can give you peace of mind, letting you fully enjoy your new car, artwork, or jewelry knowing that you’ve taken steps to safeguard it.