How to Safeguard Your Valentine’s and Presidents’ Day Purchases

February may feel brief, but it has a way of becoming one of the most expensive months of the year. Between sentimental Valentine’s Day gifts, thoughtful surprises, and major Presidents’ Day car deals, many people make high‑value purchases during this stretch of winter. Because these items often hold emotional and financial importance, it’s essential to be sure they’re properly protected.

It’s easy to get wrapped up in the excitement of choosing a ring, finding the right piece of art, or driving off the lot in a new vehicle. But before you start wearing it, displaying it, or taking it for a spin, there’s a crucial step to take: making sure your insurance coverage reflects the true value of what you just bought.

This guide walks through key coverage considerations for common February purchases—such as jewelry, fine art, collectibles, and vehicles—and highlights recordkeeping habits that can make your life much easier if you ever need to file a claim.

Why Coverage Matters Before You Use or Give a Gift

For many expensive items, it’s best not to wait before addressing the insurance details. Losses can happen instantly—on the way home, while traveling, or even when giving the gift itself. Securing the right protection upfront helps ensure you’re not caught off guard.

February amplifies this need. Whether you’re planning a proposal, gifting a luxury watch, purchasing artwork, or scoring a Presidents’ Day auto deal, each type of purchase comes with its own risks and coverage requirements. Your goal is simple: make sure your insurance aligns with the value of the item from day one.

Jewelry, Fine Art, and Collectibles: More Protection Than a Basic Policy Provides

It’s common for people to assume that their homeowners insurance will fully cover their valuables. However, most standard policies place strict limits on certain categories—especially jewelry and artwork. Many policies cap reimbursements for these items at around $1,000–$5,000, which is far below the cost of many high‑value pieces.

Additional coverage helps fill this gap. Valuable items like jewelry, artwork, and collectibles often need a scheduled personal property rider, also known as an endorsement. Scheduling an item ensures it’s protected up to its appraised value and can also expand protection to include losses that wouldn’t be covered by a standard homeowners policy, such as accidental damage or mysterious disappearance.

Most insurance companies require a recent appraisal to schedule an item, and the appraisal should be updated every few years to make sure coverage remains accurate. Certain types of fine art may even need a specialized policy that includes transport protection, restoration coverage, and international safeguards—especially for pieces that are displayed in multiple locations or moved frequently.

A few reminders for high‑value gifts this season:

• Gifting or inheriting jewelry doesn’t transfer coverage automatically; the new owner must add it to their own policy.
• For more expensive items, consider stand‑alone “personal articles” or “valuable items” insurance, available from many major carriers.
• Always keep receipts, appraisals, photos, and serial numbers. These documents help you secure coverage and streamline the claims process.

New Cars and Trucks: Understanding Grace Periods and Coverage Needs

Presidents’ Day is known for big auto sales, and many insurers offer temporary protection for newly purchased vehicles. This grace period generally lasts between seven and 30 days, with many falling between 14 and 30 days. During this time, your new vehicle typically takes on the broadest coverage of any car already on your policy.

There are a few important details to keep in mind:

• The grace period applies only if you already have an active auto insurance policy. If you don’t, you’ll need coverage before driving the new car.
• If you insure multiple vehicles, the new purchase usually adopts the highest level of protection among them during the temporary window.
• Your new vehicle inherits your existing coverages—so if you only have liability insurance now, you’ll only have liability until you update your policy.

Before your grace period expires, be sure to fully add the new vehicle to your policy. If you’re financing or leasing, the lender will likely require comprehensive and collision coverage. They may also require or recommend gap insurance, which covers the difference between the car’s value and what you still owe on your loan.

If you’re trading in or selling your old car, don’t forget to remove it from your policy once the transaction is complete.

Whenever you buy a new vehicle, it’s smart to:

• Contact your insurer as soon as possible to update your policy.
• Adjust deductibles and coverage limits to match your new car’s value.
• Update driver information, garage address, and vehicle usage details.
• Store your bill of sale, registration, and insurance ID card for easy access.

Recordkeeping: A Small Habit With Big Benefits

No matter the item—jewelry, collectibles, artwork, or vehicles—good documentation is one of your most powerful tools for safeguarding your investment.

Keep receipts, appraisal documents, and serial numbers organized and accessible. These details help establish value and ownership, and they simplify the claims process. You can take your recordkeeping even further by:

• Saving digital copies of all purchase records and photos in secure online storage.
• Photographing each item from multiple angles, including any identifying marks.
• Reviewing your coverage annually or after any major purchase.
• Asking your agent about bundling and multi‑policy savings after adding new items.

If You’re Behind, You’re Not Alone

If you bought something months ago and forgot to address the insurance details, you’re far from the only one. It’s easy to put this off, especially when you’re excited to start enjoying something new.

Your agent can still help. They can review what you’ve purchased, advise you on whether certain items need to be scheduled, and adjust your policies so your protection aligns with what you own.

Protect What Matters This February

February brings gifts and purchases that often become meaningful long after the holiday season has ended—sparkling jewelry, memorable art pieces, or a long‑awaited new vehicle. Taking a few minutes to confirm your coverage helps protect both the emotional value and the financial investment tied to those items.

If you’re planning a purchase this season or want to make sure recent buys are properly insured, now is a great time to review your options. With just a quick conversation, you can ensure your new valuables are protected from the start, giving you confidence and peace of mind.