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

February may be the shortest month of the year, but it often packs a financial punch. Between Valentine’s Day sparkle, thoughtful gifts, and the rush of Presidents’ Day auto deals, many people make some of their most memorable purchases during these chilly winter weeks. These items often carry deep emotional meaning as well as significant monetary value—making it especially important to ensure they’re fully protected.

It’s natural to get swept up in the excitement of finding the perfect ring, scoring a great vehicle discount, or bringing home a stunning piece of art you’ve admired for months. But before you slip on that new piece of jewelry, hang that painting, or cruise your new car off the dealership lot, there’s an essential step you don’t want to overlook: making sure your insurance coverage matches the value of your new purchase.

This article breaks down the key protections to consider for popular February buys—like jewelry, fine art, collectibles, and new cars—along with simple recordkeeping habits that can save you major stress later on.

Why It’s Important to Review Coverage Before Using or Gifting an Item

When it comes to high‑value purchases, waiting to “figure out the insurance later” can backfire. Things can be lost, damaged, or even stolen at any point—on the trip home, during travel, or moments before the gift is handed over. For items with significant value, the safest approach is to ensure insurance is in place before you gift them or begin using them yourself.

February brings several scenarios where this matters. Engagement rings for proposal season, limited‑edition watches, Presidents’ Day vehicles, and new artwork each come with different coverage considerations. The goal is simple: align your insurance with the item’s risk and value, so you aren’t dealing with unpleasant surprises if something unexpected happens.

Jewelry, Artwork, and Collectibles: Why Standard Homeowners Coverage Isn’t Always Enough

It’s a common misconception that homeowners insurance automatically covers valuable items at full value. In reality, most standard policies limit payouts for certain categories—especially jewelry and fine art. It’s not unusual for a policy to cap jewelry or artwork claims at just a few thousand dollars, which may fall far short of the item’s worth.

That’s where additional protection makes a meaningful difference. Items like engagement rings, heirloom pieces, rare collectibles, or fine art often need supplemental insurance to ensure full reimbursement if something goes wrong. Scheduling the item through a personal property endorsement (often called a rider) allows you to insure it for its full appraised value. These add‑ons may also cover situations that a basic policy typically excludes—like accidental damage or mysterious disappearance.

To properly schedule an item, insurers usually require a recent appraisal, and it’s wise to refresh those appraisals every two to three years so your coverage reflects current market value. Some fine art may even warrant a specialized policy that includes worldwide protection, transit coverage, and restoration support—especially helpful if you move, ship, loan, or rotate your collection.

Keep these reminders in mind for Valentine’s Day gifts or other high‑value items:

• Insurance coverage doesn’t transfer automatically when jewelry is gifted or inherited—the new owner must add it to their own policy.
• For higher‑value pieces, consider dedicated “valuable items” or “personal articles” policies offered by major carriers like State Farm, Travelers, Liberty Mutual, and others.
• Hold onto receipts, serial numbers, appraisals, and clear photos of each item. These documents help verify ownership and support claims if anything goes wrong.

A heartfelt gift or meaningful collectible can never be replaced emotionally—but the financial investment behind it should absolutely be safeguarded.

New Cars and Presidents’ Day Deals: What to Know About Grace Periods

Presidents’ Day is a prime time to buy a new vehicle. Fortunately, many insurance companies offer an automatic grace period for newly purchased cars—typically anywhere from 7 to 30 days, with many carriers falling between the 14‑ and 30‑day mark. During this window, your new vehicle usually receives the same coverage already applied to another vehicle on your policy.

There are a few important details to keep in mind:

• The grace period typically applies only if you already have an active auto policy in place. If you don’t currently carry auto insurance, you usually need to secure coverage before you take the new car home.
• If you insure multiple vehicles, the newly purchased one generally receives the broadest existing coverage—again, only for the length of the grace period.
• Your temporary coverage will match what you already have. So, if your current car only has liability coverage, your new car will also have liability until you update your policy.

Before that grace period expires, make sure your new vehicle is fully added to your policy. Lenders and leasing companies nearly always require comprehensive and collision coverage, and they may also require—or strongly recommend—gap coverage to protect against depreciation if the car is totaled early in the loan period.

Don’t forget to update your policy if you’re trading in or selling an older car. Removing a vehicle you no longer own keeps you from paying for unnecessary coverage.

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

• Notify your insurer before leaving the lot or as soon as you can afterward.
• Review and adjust liability limits, deductibles, and additional protections based on the value of your new car.
• Update details such as garaging location, listed drivers, commuting distance, and whether the car will be used personally or for business.
• Store your registration, bill of sale, and insurance ID card where they’re easy to access for everyday use or future claims.

Recordkeeping: A Simple Habit That Makes a Big Difference

No matter what you’re protecting—jewelry, art, collectibles, or a vehicle—good documentation is one of the most helpful tools you have.

Keep records such as receipts, appraisals, and serial numbers somewhere secure and easy to access. Not only do these materials support establishing coverage, but they also streamline the claims process if you ever need to file one.

For even better organization:

• Save digital copies of receipts, photos, appraisals, and VINs in a secure cloud account.
• Take clear photos of new purchases, including unique markings or serial numbers.
• Review your home and auto policies annually—or after any major purchase—to confirm your coverage still fits your situation.
• Ask your agent whether adding new valuables or vehicles makes you eligible for bundling discounts.

These small habits create a clear paper and digital trail, helping your insurer respond quickly and accurately if a claim arises.

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

If you purchased something weeks or even months ago and never got around to updating your insurance, don’t panic. Life gets busy, and it’s easy for this task to slip through the cracks.

An insurance professional can still help you evaluate what you’ve purchased, determine whether anything requires scheduling, and get your policies up to date so your coverage reflects your current possessions.

Final Thoughts: Enjoy the Season and Protect What You Love

Valentine’s Day and Presidents’ Day often bring special purchases—sparkling jewelry, new vehicles, beautiful artwork, or meaningful collectibles. Taking a little time to check your insurance before enjoying or gifting them protects both the sentimental and financial value behind each piece.

If you’re planning to bring something new into your life this February—or if you’ve recently made a purchase you haven’t insured yet—reach out. A quick conversation can give you peace of mind so you can enjoy your new jewelry, artwork, or vehicle knowing it’s protected.