Protecting Your Valentine’s Day and Presidents’ Day Purchases

February may be the shortest month, but it has a way of becoming one of the most expensive. Between Valentine’s Day gifts, meaningful surprises, and major Presidents’ Day sales—especially on vehicles—many people make some of their biggest purchases of the year during this stretch. Because these items often carry emotional and financial value, it’s important to be sure they’re protected from the start.

Finding the perfect piece of jewelry, scoring a deal on a new car, or finally buying that artwork you’ve admired can feel exciting. But before you slip on a ring, hang a painting, or pull a shiny new vehicle onto the road, there’s a crucial step that can easily be overlooked: making sure your insurance coverage is ready to support you if something unexpected happens.

This rewritten guide walks you through the key coverage considerations for Valentine’s Day and Presidents’ Day purchases—whether you’re buying fine jewelry, specialty art, or a new vehicle—along with simple documentation habits that can protect you down the road.

Why You Should Check Coverage Before Using or Gifting an Item

When it comes to high-value purchases, waiting to “figure out the insurance later” can lead to problems. Items can be lost, stolen, or damaged much sooner than you might expect. They could be misplaced on the way home, mishandled while traveling, or damaged as they’re being opened. For valuables like jewelry, luxury watches, or artwork, securing the right coverage before gifting or using them is the safest approach.

February makes these considerations especially important. Engagement rings, collectible watches, Presidents’ Day car purchases, and newly acquired art pieces all carry specific coverage needs. The goal is simple: align your insurance protection with the value and risks associated with the purchase so you aren’t surprised by gaps in coverage later.

Jewelry, Art, and Collectibles: What Standard Homeowners Insurance Doesn’t Cover

It’s a common misconception that a homeowners policy automatically covers every valuable at full value. In reality, most policies include sublimits—especially for categories like jewelry and fine art. Many standard policies cap losses for these items at $1,000–$5,000, far below what many pieces are worth.

Additional protection is often necessary. Jewelry, fine art, and collectibles may need their own coverage to ensure they’re fully insured. A scheduled personal property endorsement (often called a “rider”) allows you to insure an item up to its full appraised value. These riders often expand coverage to include situations that a basic homeowners policy may not cover, such as accidental damage or mysterious disappearance.

Most insurers require a recent appraisal to schedule an item, and that valuation should be updated every few years to keep coverage accurate. Certain art pieces—especially higher-value or one-of-a-kind works—may benefit from a specialized policy that covers transportation, restoration costs, or global protection if you move or travel with them.

A few reminders for gifting high-value items:

• Insurance doesn’t transfer when jewelry or collectibles change hands. The new owner must place the item on their own policy.
• For very valuable pieces, look into “valuable items” or “personal articles” policies, which many carriers such as Travelers, State Farm, and Liberty Mutual offer.
• Document receipts, serial numbers, appraisals, and photos. These details help establish ownership and streamline claims if something goes wrong.

A unique gift or sentimental collectible may hold emotional significance, but its financial value deserves proper protection through the right policy choices.

Buying a New Vehicle: Understanding Grace Periods and Next Steps

Presidents’ Day is a popular time to buy a new car, truck, or SUV—and many insurers offer automatic temporary coverage for newly purchased vehicles. These grace periods often range from seven to 30 days, with many companies leaning toward the 14–30 day window. During this time, the new vehicle typically takes on the same coverage limits and types as the existing vehicle on your policy with the highest level of protection.

However, there are important details to keep in mind:

• Grace periods apply only if you already have an active auto policy. If you’re currently uninsured, you usually need to secure coverage before you drive the new car.
• If multiple vehicles are on your policy, the new one typically assumes the broadest coverage available among them.
• The temporary protection mirrors your current coverage. If your existing car carries liability-only, your new one will too—until you update your policy.

Before your grace period ends, be sure to formally add the new vehicle to your policy. If you’re leasing or financing, your lender will likely require comprehensive and collision coverage, and may encourage gap insurance to protect against depreciation.

And don’t forget the vehicle you’re letting go of—removing it from your policy ensures you aren’t paying for coverage you no longer need.

Whenever you bring home a new car, make a habit of:

• Notifying your insurer before you leave the dealership or as soon as possible afterward.
• Adjusting your limits and deductibles to match the value of your new vehicle.
• Updating details like drivers, garaging location, and usage (commuting, personal, or business).
• Keeping important documents—such as your bill of sale, registration, and insurance ID card—readily accessible.

A quick call to your agent helps ensure your new vehicle is fully protected the moment you start driving it.

Stay Organized: Why Good Records Make a Difference

Whether you’re insuring jewelry, artwork, collectibles, or a vehicle, strong recordkeeping can save you a significant amount of stress during a claim. Keeping receipts, appraisal documents, serial numbers, and photos organized is key to confirming ownership and value.

Take your documentation one step further by:

• Storing digital copies of receipts, appraisals, photos, and VINs in a secure cloud location.
• Photographing new purchases—including unique markings—to help with identification.
• Reviewing your home and auto policies annually to ensure your coverage reflects major purchases.
• Asking whether new assets qualify you for bundling or multi-policy discounts.

These habits create a clear, accessible record that can make a big difference when you need quick assistance from your insurer.

If You Haven’t Updated Your Coverage Yet, You’re Not Alone

If you purchased something last month—or even last year—and forgot to update your insurance, you’re in good company. Busy schedules and the excitement of enjoying something new can make it easy to postpone the insurance details.

The good news: it’s not too late. An agent can review your recent purchases, recommend whether certain items should be scheduled, and help ensure your current policies match your belongings and lifestyle moving forward.

Final Thoughts: Enjoy February, and Protect What You Love

From sparkling Valentine’s Day gifts to exciting Presidents’ Day car deals, February often brings meaningful additions to your life. Taking a few minutes to think about insurance before you gift or use these purchases is a smart way to protect both their sentimental and financial value.

If you’re adding something new to your world this month—or have recent purchases you’ve been meaning to insure—I’m here to help you make sure they’re properly covered. With just a quick conversation, you can enjoy your new jewelry, artwork, or vehicle with confidence that you’ve taken the right steps to protect them.