Protecting Your Valentine’s and Presidents’ Day Purchases

February may fly by, but it often brings some of the biggest purchases of the year. Between Valentine’s Day jewelry, thoughtful gifts, and the deep discounts that come with Presidents’ Day car sales, many people bring home items with both emotional and financial significance. Because these purchases matter, it’s essential to make sure they’re properly protected.

Finding the perfect gift or finally buying that new vehicle is the fun part. But before you wear it, gift it, display it, or drive it home, there’s an important step that shouldn’t be skipped: confirming that your insurance will actually protect you if something unexpected happens.

This rewritten guide walks through the key coverage considerations for popular February purchases—from jewelry and fine art to new vehicles—and highlights the recordkeeping habits that can make your life much easier down the road.

Why Securing Coverage Early Matters

When it comes to high-value purchases, waiting to sort out insurance is a risky move. Items can be lost, stolen, or damaged immediately—on the way home, while traveling, or even during the moment they’re gifted. That’s why it’s smart to make sure the right protection is in place before the item changes hands or gets used.

This is especially true in February. Whether it’s a proposal ring, a luxury watch, a Presidents’ Day car deal, or a newly acquired art piece, each one has specific insurance requirements. Matching your coverage to the value and unique risks of the item helps prevent unpleasant surprises later.

Jewelry, Art, and Collectibles: Looking Beyond Basic Homeowners Coverage

Many people assume their homeowners insurance automatically covers all valuables at their full worth. In reality, most policies place strict limits on categories like jewelry and fine art. Standard coverage often tops out around $1,000 to $5,000—an amount that may barely scratch the surface of your item’s true value.

That’s why additional protection is often necessary. High-end jewelry, artwork, and collectibles may require separate insurance or special endorsements to ensure they’re covered at full appraised value. Adding a scheduled personal property rider allows you to insure each item individually so you receive proper reimbursement if something happens. These endorsements may also include broader protections than a typical homeowners policy, such as coverage for accidental breakage or mysterious disappearance.

To schedule an item, insurers generally need a recent appraisal. These values should be refreshed every two to three years to keep the coverage accurate. Some fine art owners may need a specialty policy that includes worldwide protection, transit coverage, and restoration costs—especially if the piece is moved, exhibited, or transported.

Keep these points in mind when buying or gifting high-value items:

• Insurance coverage doesn’t automatically transfer when jewelry is gifted or inherited; the new owner must add it to their policy.
• For expensive pieces, a dedicated personal articles or valuable items policy—offered by many major insurers—may be the best fit.
• Hold onto receipts, photos, serial numbers, and appraisals. These documents prove value and ownership and are required for obtaining coverage or filing a claim.

Sentimental gifts may be priceless emotionally, but the financial side can and should be safeguarded with the right insurance.

New Car Purchases: Grace Period Basics and Smart Next Steps

Presidents’ Day is a popular time for buying new vehicles, and fortunately, many insurance providers offer an automatic grace period. This temporary coverage typically lasts between 7 and 30 days, with many insurers falling somewhere in the 14- to 30-day range. During this period, your new vehicle usually receives the same coverage and limits as another car already listed on your policy.

However, there are some important details to understand:

• The grace period applies only if you already have an active auto policy. If you’re uninsured, you’ll need coverage in place before driving the new vehicle.
• If you have multiple insured cars, the new vehicle usually adopts the highest level of coverage among them—until the grace period ends.
• Your temporary coverage mirrors what you already have. So, if your current car only has liability, your new car won’t automatically have collision or comprehensive until you update your policy.

Before the grace period expires, make sure the new car is officially added to your policy. Lenders for financed or leased vehicles typically require collision and comprehensive coverage, and many strongly suggest gap insurance to protect you from owing more than the vehicle’s actual cash value if it’s totaled.

And don’t forget the vehicle you’re parting with—remove it from your policy so you’re not paying for unnecessary protection.

Whenever you buy a new vehicle, make it a routine to:

• Contact your insurer before you drive away or shortly afterward to update your policy.
• Adjust limits and deductibles so they align with your new vehicle and your preferences.
• Update information such as drivers, garaging location, and whether the car is for personal or business use.
• Store copies of your registration, bill of sale, and insurance ID card so they’re easily accessible.

A quick call to your agent ensures your new car is protected from day one.

Recordkeeping Tips That Make a Big Difference

Whether you’re insuring jewelry, artwork, collectibles, or a car, good recordkeeping is essential—and can significantly simplify the claims process if something goes wrong.

Make it a habit to keep receipts, appraisals, and serial numbers organized. To go a step further:

• Store digital copies of important documents—such as appraisals, receipts, and photos—in secure cloud storage.
• Photograph new purchases, including distinguishing details, to support identification or claims.
• Review your home and auto policies annually or after major purchases to ensure your coverage truly reflects what you own.
• Ask your agent whether new items or policies qualify you for bundling discounts or other savings.

These straightforward habits help create a clear history of ownership and value, making it easier for your insurer to assist quickly and accurately.

If You Didn’t Handle Insurance Right Away, Don’t Stress

If you bought something recently—or even a while ago—and haven’t updated your insurance yet, you’re not the only one. Busy schedules and the excitement of a new purchase make it easy to delay the details.

The good news? You still have options. An insurance professional can review your items, recommend appropriate coverage, and adjust your policies so they reflect your current needs going forward.

Final Thoughts: Enjoy February and Safeguard Your Purchases

Valentine’s Day and Presidents’ Day often bring memorable purchases—everything from sparkling jewelry to new cars to meaningful artwork or collectibles. Spending a little time reviewing your insurance ahead of time is a smart way to protect both the emotional and financial investment involved.

If you’re planning a February purchase—or if you’ve recently bought something you want to protect—we’re here to help ensure it’s properly insured. A quick conversation can give you confidence and peace of mind, letting you enjoy your new items knowing they’re fully protected.