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

February may be the shortest month of the year, but it has a way of stretching the budget. Between Valentine’s Day gifts, meaningful surprises, and the flurry of Presidents’ Day car deals, many people make some of their biggest—and most sentimental—purchases right in the middle of winter. When those items carry both emotional and financial weight, it’s worth taking a moment to make sure they’re fully protected.

It’s easy to focus on the exciting part: choosing the perfect piece of jewelry, scoring a great price on a new car, or finally bringing home a work of art you’ve admired for months. But before you slip on the ring, hang the painting, or drive that car off the lot, there’s one step that’s just as important as the purchase itself: confirming that your insurance covers the item the way you expect.

This updated guide walks through key protections to consider for Valentine’s Day and Presidents’ Day purchases—from jewelry and art to brand-new vehicles—plus some simple documentation habits that can save you headaches down the road.

Why It’s Important to Confirm Coverage Before You Gift or Use an Item

When it comes to higher-value purchases, waiting until “later” to figure out insurance can be risky. Items can be lost, damaged, or stolen long before you think to add them to a policy—sometimes even on the way home from the store or right as they’re being gifted. For certain pieces, the safest move is to have coverage in place before the gift exchange or before you start using it yourself.

February makes this more relevant than usual. Whether it’s a proposal ring, a luxury watch, a Presidents’ Day vehicle, or a newly acquired painting, each item has its own insurance needs. The goal is simple: match your coverage to the value and risk of the purchase so you’re not caught off guard by gaps when you need help the most.

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

Many people assume their homeowners policy will automatically cover their valuables at full value. Unfortunately, most basic policies include strict sublimits—especially for items like jewelry and fine art. Claims on these categories are often capped between $1,000 and $5,000, which is far below the value of many modern purchases.

That’s where additional protection comes in. High-value items such as jewelry, artwork, or collectibles typically need separate or supplemental coverage. One common option is a scheduled personal property rider (also called an endorsement), which ensures the item is covered up to its full appraised value. These riders can also protect against events not usually covered by a standard homeowners policy, such as accidental damage or mysterious disappearance.

To schedule an item, insurers usually require a recent appraisal. It’s wise to update those appraisals every few years to keep coverage accurate. Some fine art pieces may even require a specialized policy that includes worldwide protection, transit coverage, and restoration benefits—especially useful if you move, loan artwork to a gallery, or frequently travel with it.

Additional reminders for Valentine’s Day gifts and high-value purchases:

• If you gift or inherit jewelry, coverage doesn’t automatically carry over—the recipient must add the item to their own policy.
• For expensive pieces, consider dedicated “valuable items” or “personal articles” insurance often offered by carriers like Travelers, State Farm, Liberty Mutual, and others.
• Keep documentation such as receipts, photos, serial numbers, and appraisals. These records help establish ownership and can speed up the claims process.

While no form of insurance can replace the sentimental value of a meaningful gift, it can absolutely safeguard the financial value—and provide peace of mind in the process.

Buying a New Vehicle: Understanding Grace Periods and Coverage Requirements

Presidents’ Day has long been a popular time to purchase a new car, truck, or SUV. Fortunately, most insurance companies provide an automatic grace period that extends your current auto coverage to the new vehicle. This window typically lasts anywhere from seven to 30 days, with many carriers offering somewhere in the 14–30 day range. During this time, the new vehicle generally carries the same coverage types and limits as another car already listed on your policy.

Still, it’s important to understand the fine print:

• The grace period usually applies only if you already have an active auto policy in place. If you don’t currently insure a vehicle, you’ll need to obtain a policy before driving your new car.
• If you have multiple cars insured, the new one often receives the broadest coverage of the vehicles on your policy—though only until the grace period ends.
• Temporary coverage mirrors your existing protection. For example, if your current vehicle only has liability coverage, your new one will typically have liability only until you make formal changes.

Before the grace period expires, you’ll need to officially add the new car to your policy. If you’re financing or leasing, your lender will likely require both comprehensive and collision coverage. Gap insurance may also be required—or at least strongly recommended—to cover the difference between your loan balance and the vehicle’s actual cash value if it’s totaled.

And don’t forget the other side of the deal: if you’re trading in or selling an older vehicle, be sure it’s removed from your policy once it’s no longer yours. Otherwise, you may end up paying for coverage unnecessarily.

Each time you purchase a vehicle, make it part of your routine to:

• Contact your insurer before driving off the lot or as soon as possible within the grace period.
• Ensure your coverage limits and deductibles reflect the new vehicle’s value and your comfort level.
• Update details such as drivers, garaging location, and how the vehicle will be used.
• Keep handy copies of your bill of sale, registration, and insurance ID cards.

A quick check-in with your agent can help you avoid surprises and ensure your new ride is protected from day one.

Smart Recordkeeping for All Valuable Purchases

Whether you’re protecting jewelry, collectibles, artwork, or a new vehicle, strong recordkeeping is one of the most helpful tools you have. Organized documentation can make the insurance process smoother from the moment you secure coverage to the day you file a claim—if you ever need to.

Consider these best practices:

• Maintain receipts, appraisal reports, and serial numbers for major purchases.
• Store digital copies of receipts, photos, and Vehicle Identification Numbers (VINs) in secure cloud storage.
• Photograph new items—including front, back, and any unique features—for easier identification.
• Review your home and auto coverage annually or after any significant purchase to ensure limits still fit your needs.
• Ask your agent about bundling or multi-policy discounts after adding new valuables or vehicles to your coverage.

These simple habits create a clear record that can help your insurer act quickly and fairly in the event of a loss.

If You’re Late, Don’t Stress

If you bought something weeks—or even months—ago and still haven’t addressed the insurance side, don’t panic. Life gets busy, and it’s easy to overlook these details in the excitement of using something new.

The important thing is that it’s not too late. An agent can review what you purchased, help determine whether any items should be scheduled, and update your policies so your coverage accurately reflects what you own moving forward.

Final Thoughts: Enjoy February and Protect What Matters Most

From sparkling Valentine’s Day gifts to Presidents’ Day car deals, February can bring some of the most meaningful purchases of the year. Spending a little time upfront to confirm your insurance coverage can protect both your wallet and the sentimental value of your new items.

If you’re planning to add something special to your life this month—or if you’ve recently made a big purchase and want to be sure it’s protected—I’m here to help you navigate your options. A quick conversation can give you peace of mind, so you can enjoy your new jewelry, artwork, or vehicle knowing you’ve taken the right steps to safeguard it.