Protecting Your Valentine’s Day and Presidents’ Day Purchases This February

February may fly by quickly, but it often brings some of the biggest—and most meaningful—purchases of the year. Romantic Valentine’s Day gifts, sparkling jewelry, special surprises, and can’t-miss Presidents’ Day vehicle deals all tend to appear within the same few weeks. These items often carry both emotional significance and real financial value, which makes proper protection essential.

It’s fun to shop for the perfect piece of jewelry, score a major discount on a new vehicle, or finally purchase that artwork you’ve been admiring. But before you put a new ring on someone’s finger, hang art on the wall, or drive a car off the lot, there’s one critical step you shouldn’t skip: ensuring your insurance coverage is ready to support you if something goes wrong.

This rewritten guide takes you through the key protections to consider for popular February purchases—from jewelry and fine art to brand-new vehicles—as well as practical recordkeeping habits that can make future claims much smoother.

Why Coverage Matters Before You Give or Use a New Purchase

When it comes to high-value items, waiting to handle insurance later isn’t always the best plan. New purchases can be lost, damaged, or stolen right after you buy them—sometimes on the way home, during travel, or even as they’re being unwrapped as gifts. For many valuables, securing protection as soon as possible is the safest approach.

February’s gift-heavy celebrations make this especially relevant. Engagement rings, luxury watches, a Presidents’ Day car purchase, or a newly acquired painting all come with unique insurance considerations. The goal is to align coverage with the value and risks associated with the item, helping you avoid unpleasant surprises when you need your policy the most.

Jewelry, Fine Art, and Collectibles: Why Standard Homeowners Insurance May Not Be Enough

A common misconception is that a homeowners policy automatically covers valuables at their full worth. In reality, most basic policies include category limits—particularly for jewelry and fine art. For example, many homeowners policies cap jewelry or fine art payouts between $1,000 and $5,000, which often doesn’t come close to replacing a valuable piece.

That’s why additional protection may be necessary. High-value items like jewelry, artwork, and collectibles frequently need standalone coverage beyond what a standard homeowners policy offers. Adding a scheduled personal property endorsement allows you to insure an item for its full appraised value. These endorsements can also cover risks that typical policies exclude, such as accidental damage or mysterious disappearance.

Insurers generally require a recent appraisal before you can schedule an item. Those valuations should be updated every few years—typically every two to three—to keep coverage accurate. In some cases, fine art may require a specialized policy that includes coverage for transit, restoration services, and worldwide protection, which is especially important if you move, loan art to galleries, or transport pieces frequently.

Keep these reminders in mind when gifting or receiving high-value items in February:

• Insurance on jewelry doesn’t transfer automatically. If you give or inherit a piece, the new owner must add it to their own policy.
• For very expensive items, consider dedicated “valuable items” or “personal articles” policies, which many insurance carriers offer.
• Maintain receipts, photographs, serial numbers, and appraisals. These documents verify ownership and value, which is essential during the claims process.

Even though a romantic or collectible item may be emotionally priceless, protecting its financial value with the right coverage is a smart and responsible step.

Buying a New Car? Understand Grace Periods and Next Steps

Presidents’ Day is famous for major car sales, and many shoppers take advantage of these seasonal discounts. Fortunately, most insurance companies automatically extend your current auto policy to a newly purchased vehicle for a short period—usually between seven and 30 days, with many falling in the 14- to 30-day range. During this grace period, the new vehicle typically receives the same coverage types and limits as a car already insured on your policy.

Here are a few key points to know:

• The grace period only applies if you already have an active auto policy covering at least one existing vehicle. If you don’t currently have insurance, you’ll need to secure a policy before driving your new car.
• If multiple vehicles are insured, the new one usually takes on the broadest coverage among them—but only for the duration of the grace window.
• Your temporary protection mirrors your current coverage. If your existing car only has liability, your new vehicle will likely only have liability until you formally update the policy.

Before the grace period ends, make sure the new car is fully added to your policy. Lenders and leasing companies almost always require collision and comprehensive coverage, and many also recommend gap insurance, which helps pay the difference between the vehicle’s value and your outstanding loan balance.

And don’t forget to update your policy if you’re replacing an older car. Removing the old vehicle ensures you aren’t paying for unnecessary coverage.

Anytime you purchase a new vehicle—during Presidents’ Day or otherwise—make a habit of doing the following:

• Notify your insurer before leaving the dealership or as soon as possible within the grace period.
• Review and adjust coverage limits and deductibles based on your new vehicle’s value.
• Update details like drivers, garaging address, and how you use the vehicle (commuting, business, personal use, etc.).
• Keep the bill of sale, registration, and insurance ID card handy for both claims and everyday needs.

A quick conversation with your agent can help ensure your car is protected the moment you drive it home.

Recordkeeping Tips That Make a Big Difference

Strong recordkeeping practices are incredibly helpful, no matter what you’ve purchased. Organized documentation not only supports policy updates but also makes filing a claim far easier if you ever need to.

Consider improving your personal inventory with a few simple steps:

• Digitally save receipts, appraisals, photographs, and VINs in secure cloud storage.
• Take clear photos of new items—from multiple angles and showing unique features—to help with identification later.
• Review your home and auto policies annually or after major purchases to confirm coverage levels are still appropriate.
• Ask your agent about discounts available when you add new valuables or vehicles, since bundling often leads to cost savings.

Good documentation creates a clear trail that helps your insurer act quickly and fairly if an issue arises.

If You’re Behind, Don't Stress—There’s Still Time

If you meant to update your insurance for something you purchased weeks or even months ago, you’re in good company—many people delay this step. Life gets busy, and new purchases are exciting to use right away.

The reassuring news: it’s not too late. Your agent can look at what you’ve acquired, determine whether certain items should be scheduled, and help bring your policies up to date so your coverage matches your current lifestyle and belongings.

Final Thoughts: Protect What Matters Most This February

Valentine’s Day and Presidents’ Day often bring meaningful gifts and major purchases—new jewelry, a fresh set of wheels, incredible artwork, or one-of-a-kind collectibles. Taking a little time to think about insurance before enjoying these items can safeguard both your sentimental investment and your budget.

If you’re planning a new purchase this February—or if you already bought something and just haven’t updated your insurance—I’m here to help make sure everything is properly protected. A quick check-in can give you peace of mind so you can enjoy your new items knowing you’ve taken the right steps to secure them.