Protecting Your Valentine’s Day and Presidents’ Day Purchases

February might be the shortest month of the year, but it often comes with some big spending. Between Valentine’s Day gifts, meaningful jewelry, romantic surprises, and major Presidents’ Day auto sales, many people make high‑value purchases during this winter stretch. Because these items often carry both emotional and financial weight, making sure they’re properly insured is essential.

Finding the right ring, scoring a great deal on a new vehicle, or finally buying that piece of art you’ve been eyeing is exciting. But before you gift it, wear it, display it, or drive it home, there’s one step you don’t want to skip: confirming that your insurance will protect you if something unexpected happens.

This guide breaks down what to consider when insuring Valentine’s Day and Presidents’ Day purchases—from jewelry and art to brand‑new cars—along with helpful recordkeeping tips that can save you stress later.

Why Insurance Matters Before You Use or Gift an Item

When you buy something valuable, waiting to secure insurance can leave you exposed. Items can be stolen, lost, or damaged almost immediately—whether on the way home, while traveling, or even in the middle of gifting them. For higher‑value purchases, the smartest move is to have coverage lined up before the item goes into use.

This is especially true in February. Whether it’s a proposal-ready ring, a rare collectible, a Presidents’ Day car deal, or a newly acquired work of art, each type of purchase has its own insurance needs. The key is matching the right protection to the item so you don’t discover unpleasant gaps at a critical moment.

Jewelry, Art, and Collectibles: What Your Homeowners Policy May Not Cover

Many people assume their homeowners insurance automatically covers all their valuables at full value. In reality, standard policies usually include low limits for certain items—especially jewelry and fine art. Claims under a basic policy often max out around $1,000 to $5,000, which may fall far short of an item’s actual worth.

That’s why additional protection can be essential. Jewelry, artwork, and collectibles often need dedicated coverage beyond what a typical homeowners policy offers. A scheduled personal property endorsement (sometimes called a rider) can ensure that the item is insured for its full appraised value. These endorsements may also cover situations that standard policies don’t, such as accidental damage or mysterious disappearance.

To schedule an item, insurers usually require an up‑to‑date appraisal. It’s best to refresh those appraisals every two to three years to keep coverage accurate. Some types of fine art may even need specialized policies that include protection during transit, worldwide coverage, and restoration costs—crucial if pieces are moved, loaned, or displayed outside the home.

A few reminders when insuring high‑value Valentine’s Day or celebratory gifts:

• If jewelry is given or inherited, the insurance doesn’t automatically move with it. The new owner must add it to their own policy.
• For higher‑value pieces, consider stand‑alone “valuable items” or “personal articles” policies offered by many major carriers.
• Keep detailed documentation—photos, receipts, appraisals, and serial numbers. These help with both securing coverage and filing claims.

While gifts like jewelry or artwork may be irreplaceable emotionally, their financial value can and should be protected with the proper insurance.

Buying a New Car? What to Know About Grace Periods

Presidents’ Day is a prime time for car shopping, and fortunately, most insurers provide automatic temporary coverage when you buy a new vehicle. This grace period typically lasts between seven and 30 days, with many companies offering 14 to 30 days. During this window, the new vehicle usually takes on the coverage limits and types of another vehicle already listed on your policy.

However, there are important details to keep in mind:

• The grace period generally only applies if you already have an active auto policy with at least one insured vehicle. If not, you’ll need insurance before driving the new car.
• If you own multiple cars, your new vehicle often inherits the broadest level of coverage among them—again, only for the grace period.
• This temporary coverage mirrors what you already carry. If your current car only has liability coverage, your new car will also only have liability until you update your policy.

It’s important to officially add your new car to your auto policy before the grace window ends. If the car is financed or leased, the lender will likely require collision and comprehensive coverage, and may also require or recommend gap insurance to cover the difference between your loan balance and the vehicle’s actual cash value.

And don’t forget: if you’re trading in or selling a previous vehicle, remove it from your policy so you’re not paying for unnecessary coverage.

Whenever you purchase a vehicle—during Presidents’ Day deals or any other time—make it a habit to:

• Contact your insurance provider before leaving the dealership or shortly afterward to make policy updates.
• Adjust your deductibles and coverage levels to fit your new vehicle and comfort level.
• Update driver information, garaging address, and usage details (such as commuting distance or business use).
• Keep copies of your registration, bill of sale, and insurance ID card easily accessible.

A quick check‑in with your agent can help ensure you’re fully protected right from day one.

Recordkeeping: A Small Step That Makes a Big Difference

Whether you’ve purchased jewelry, fine art, collectibles, or a new vehicle, keeping clear and organized records is one of the best ways to safeguard your investment. Documentation helps you establish coverage and makes any future claims much smoother.

To stay organized:

• Save digital copies of receipts, appraisals, photos, and Vehicle Identification Numbers (VINs) in a secure cloud folder.
• Photograph new items from multiple angles, including identifying marks, for easy verification.
• Review your home and auto policies annually—or after any significant purchase—to be sure coverage limits still match what you own.
• Ask your agent about bundling opportunities; adding new valuables or vehicles may unlock savings.

Keeping good records creates a clear trail that helps your insurer respond quickly and accurately if something goes wrong.

If You Haven’t Updated Your Coverage Yet, Don’t Worry

If you purchased something weeks—or even months—ago and meant to update your insurance later, you’re not alone. Life gets busy, and it’s easy to forget. The good news is that you can still take action.

An insurance professional can review what you’ve purchased, help determine whether certain items should be scheduled or insured separately, and adjust your policies so they reflect your current needs. It’s never too late to get your coverage back on track.

Enjoy the Season While Protecting What Matters Most

Valentine’s Day and Presidents’ Day often bring exciting purchases—from sparkling jewelry to brand‑new vehicles, meaningful artwork, or special collectibles. Taking just a little time to evaluate your insurance before using or gifting these items can protect both their sentimental and financial value.

If you’re planning a meaningful purchase this February—or you already bought something and haven’t insured it yet—we’re here to help you make sure it’s properly protected. A brief conversation can give you peace of mind so you can enjoy your new jewelry, artwork, or car knowing it’s backed by the right coverage.