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

February might fly by quickly, but it’s often one of the priciest times of the year. From meaningful Valentine’s Day gifts to major Presidents’ Day sales, many families invest in items that carry both emotional and financial weight. With purchases like jewelry, art, and new vehicles entering your home, making sure they’re properly insured is just as important as the excitement of buying them.

It’s easy to get caught up in the moment—finding a beautiful necklace, scoring a deal on a car, or finally buying a piece of art you’ve been admiring. But before you present a gift, put it on display, or hit the road, there’s a key step that shouldn’t be skipped: confirming that your insurance will protect you if something unexpected happens.

This guide breaks down what coverage to consider for February purchases, including jewelry, collectibles, fine art, and brand‑new vehicles. You’ll also find some helpful recordkeeping tips that can make the claims process far easier should you ever need it.

Why Insurance Should Be Sorted Out Before You Use or Gift an Item

High‑value items don’t wait to be lost or damaged. Something can happen immediately—during the drive home, while traveling, or even in the moment you give the gift. Because of this, it’s best to ensure proper coverage is in place before the item is worn, displayed, or put to use.

This is particularly important in February. A ring for a proposal, a special watch, a bargain car purchased during a holiday sale, or a newly acquired piece of art each has unique coverage needs. The goal is to match your protection to the item’s value so you’re never left with a surprise gap in coverage when you need support.

Jewelry, Fine Art, and Collectibles: More Than What a Homeowners Policy Covers

Many people assume their homeowners insurance will fully cover newly purchased valuables, but most standard policies include strict limits for categories like jewelry and fine art. In many cases, payouts for these items max out between $1,000 and $5,000—far below the actual value of many gifts.

This is where supplemental coverage enters the picture. Jewelry, artwork, or collectible items often need separate protection to cover their full worth. Adding a scheduled personal property endorsement (sometimes called a rider) allows you to insure an item for its appraised value. These endorsements may also cover risks that a standard policy doesn’t, such as accidental breakage or the mysterious disappearance of an item.

To schedule an item, insurers will typically want a recent appraisal, and those values should be refreshed every two to three years to keep coverage accurate. Certain types of fine art may even need a specialty policy, especially if the piece travels, is loaned to galleries, or requires restoration.

A few helpful reminders for gifting or acquiring high‑value items:

• If ownership of jewelry changes—through gifting or inheritance—the coverage does not automatically shift with it. The new owner must add it to their policy.
• For expensive items, consider standalone valuable‑items or personal‑articles coverage, available from many major carriers.
• Retain receipts, appraisals, photos, and serial numbers. These documents help establish value, prove ownership, and streamline claims.

Sentimental gifts may be priceless emotionally, but proper insurance ensures their financial worth is protected too.

New Vehicles: What Grace Periods Mean for Your Coverage

Presidents’ Day is one of the most popular times to purchase a car, truck, or SUV—and many insurers offer an automatic coverage window for newly purchased vehicles. This grace period usually ranges from seven to 30 days, with many companies offering protection that lasts around two to four weeks. During this time, the new vehicle typically mirrors the coverage of another car already on your policy.

There are several important details to keep in mind:

• The grace period typically only applies if you already have an active auto policy. If not, you’ll need to secure coverage before driving your new car.
• If you insure multiple cars, the newly purchased vehicle often receives the broadest coverage available among them during the temporary window.
• Your new vehicle will only have the same protections as your current policy. For example, if you carry only liability coverage, that is all the new car will have until you make updates.

Before the grace period ends, your new purchase must be formally added to your policy. If the car is financed or leased, the lender will almost always require collision and comprehensive coverage and may strongly recommend gap insurance to protect you if the vehicle depreciates faster than the loan balance.

And don’t forget the vehicle you’re letting go of. If you traded in or sold your old car, make sure it’s removed from your policy to avoid paying unnecessary premiums.

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

• Notify your insurer before driving away or shortly afterward.
• Confirm that your limits, deductibles, and coverage types fit your new car’s value and your comfort level.
• Update details like who will be driving the vehicle, where it will be stored, and how it will be used.
• Keep copies of your purchase documents, registration, and insurance ID card handy.

A quick call or message to your agent can ensure your new ride is protected from day one.

Recordkeeping Tips for Smoother Claims

No matter what kind of high‑value item you’re dealing with, organized documentation is one of the most important tools you can have. You’ll need these records to secure coverage and to make the claims process as smooth as possible.

Consider these steps:

• Store digital versions of receipts, appraisals, photos, and VINs in secure cloud storage.
• Take clear photos of new purchases, including unique markings or serial numbers.
• Review your home and auto policies annually or after any major purchase.
• Ask your agent whether new additions qualify you for bundling or multi‑policy discounts.

These simple habits create an organized record that can protect you when you need help the most.

Don’t Stress If You Haven’t Updated Your Coverage Yet

If you purchased something weeks or even months ago and never got around to updating your insurance, you’re not alone. Life gets busy, and it’s easy to overlook these details. The good news is that an agent can still review your recent purchases and help you determine whether any items should be scheduled or added to your policy going forward.

Final Thoughts: Enjoy Your February Purchases With Confidence

Valentine’s Day and Presidents’ Day often bring meaningful purchases—sparkling jewelry, a stylish new vehicle, or a unique piece of art. Taking a little time to think about insurance before you use or gift those items helps protect both their emotional significance and financial value.

If you’re planning a new addition this February or have recently purchased something special, now is the perfect time to make sure everything is properly insured. A short conversation can give you peace of mind, letting you fully enjoy your new jewelry, artwork, or vehicle knowing it’s protected.