Smart Ways to Protect Your Valentine’s and Presidents’ Day Purchases

February may fly by, but it has a way of inspiring big spending. From Valentine’s Day gifts like fine jewelry or meaningful keepsakes to Presidents’ Day deals on new cars or long-awaited home upgrades, this short month often brings purchases that hold both sentimental and financial weight. With that in mind, it’s essential to make sure these items are properly insured from the moment they enter your life.

It’s easy to get wrapped up in the excitement of a romantic surprise, finally buying that piece of art you’ve admired, or driving off the lot in a new vehicle. But before you present a gift, hang a new collectible, or take a fresh set of keys for a spin, one important step should come first: confirming that your insurance coverage is ready to protect your investment.

Below, we’ll walk through the types of coverage to consider for Valentine’s Day and Presidents’ Day purchases—from jewelry and artwork to newly purchased vehicles—along with some simple organizing habits that help you avoid complications down the road.

Why You Should Verify Coverage Before Using or Gifting an Item

High-value items can be vulnerable the moment they’re purchased. A ring can be misplaced on the way home, a watch can be damaged while traveling, or a new vehicle can be involved in an accident on day one. Because of this, it’s wise to secure insurance before gifting or using your new item.

This is especially true in February, when many people purchase proposal jewelry, rare collectibles, limited-edition artwork, or vehicles discounted during Presidents’ Day sales. Each of these comes with its own risks and coverage needs. The goal is to make sure your insurance accurately reflects the item’s value, so there are no surprises if something goes wrong.

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

Many people assume their homeowners policy automatically covers the full value of expensive items. In reality, standard policies usually have low payout limits—especially for categories like jewelry and artwork. These limits often fall somewhere in the $1,000–$5,000 range, which may not come close to covering the true worth of your piece.

For higher-value items, adding extra protection is often necessary. This may mean selecting coverage for fine art, collectibles, or jewelry that goes beyond what your homeowners policy provides. A scheduled personal property endorsement (sometimes called a rider) allows you to insure individual pieces at their appraised value. Riders also often provide broader coverage for things like accidental damage or mysterious disappearance—losses that aren’t normally included in a standard policy.

To schedule an item, most insurers require an up-to-date appraisal, which typically should be refreshed every two to three years. High-value art might even be better served by a specialized policy that includes coverage for transportation, restoration, and global protection—especially helpful for those who relocate frequently, loan pieces to galleries, or travel with artwork.

Keep these reminders in mind when purchasing or gifting valuables:

• Insurance doesn’t transfer when jewelry is gifted or inherited—the new owner has to insure it under their own policy.
• For costly items, explore “valuable items” or “personal articles” policies offered by major carriers.
• Keep records such as receipts, photos, serial numbers, and appraisals. These documents help establish ownership and value if you ever need to file a claim.

While meaningful gifts hold emotional value, making sure they’re financially protected ensures they can be enjoyed for years to come.

Coverage for New Vehicles: Understanding Grace Periods

Presidents’ Day car sales are extremely popular, and the good news is that many insurers offer a built-in grace period of temporary coverage when you purchase a new vehicle. This period typically ranges from seven to 30 days—though most carriers land between 14 and 30 days. During that time, your new vehicle usually receives the same level of protection as another vehicle already listed on your policy.

There are a few key details to know:

• You must already have an active auto policy for the grace period to apply. If you don’t currently have coverage, you’ll need to secure insurance before driving the vehicle.
• If multiple cars are insured under your policy, the new vehicle generally adopts the highest level of coverage among them—temporarily.
• If your current policy only includes liability, that’s typically all your new vehicle will have until you update your coverage.

Before your grace period ends, make sure your new vehicle is fully added to your policy. If you financed or leased the car, your lender will likely require comprehensive and collision coverage. Some may also require gap insurance, which covers the difference between the car’s current value and what you still owe if it’s totaled.

And don’t forget to remove any vehicle you’re trading in or selling so you’re not paying for coverage you no longer need.

Whenever you purchase a new car, remember to:

• Contact your insurer before—or immediately after—taking possession of the vehicle to update your policy.
• Adjust limits and deductibles based on the new car’s value and your personal preference.
• Update details like drivers, how the car will be used (commuting or business), and where it will be parked.
• Hang onto important documents like the bill of sale, registration, and insurance ID card for daily use and claim verification.

Recordkeeping Tips to Simplify Claims

No matter what you’re insuring—jewelry, artwork, collectibles, or a new vehicle—good documentation is one of the most valuable tools you have. Organized records make the claims process smoother and help your insurer verify value and ownership.

To stay prepared:

• Store digital copies of receipts, appraisals, photos, and Vehicle Identification Numbers (VINs) in secure cloud storage.
• Photograph new items—including close-ups and distinguishing details—to aid in identification.
• Review your home and auto policies each year or after any major purchase to ensure your coverage limits match your belongings.
• Ask your agent if adding new items qualifies you for bundling discounts or other savings.

If You’re Late on Coverage, Don’t Stress

If you bought something weeks or months ago and haven’t insured it yet, you’re not the only one. Life gets busy, and it’s normal for insurance updates to fall to the bottom of the list. The good news is that you can still get the right coverage moving forward. An agent can help you evaluate what you’ve purchased, determine whether certain items should be scheduled, and update your policies accordingly.

Final Thoughts

February often brings exciting new additions to your life, whether it’s a beautiful piece of jewelry, a one-of-a-kind collectible, or a new set of wheels. Taking a moment to put the right insurance in place helps protect both the emotional and financial value of those purchases.

If you’re adding something special to your home or driveway this month—or realizing you need to insure a recent purchase—I’m here to help you make sure everything is properly covered. A quick conversation can give you peace of mind, allowing you to enjoy your new items knowing you’ve taken the right steps to protect them.