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

February may be one of the shortest months of the year, but it often comes with some of the biggest purchases. Romantic Valentine’s Day gifts, eye‑catching jewelry, meaningful artwork, and major Presidents’ Day vehicle deals all tend to land within the same few weeks. Because these items can carry both emotional and financial weight, it’s important to make sure they’re properly protected from the start.

It’s easy to focus on the thrill of finding the right piece of jewelry, finally selecting a long‑admired work of art, or driving home in a brand‑new car. But before those purchases are gifted, displayed, or taken out on the road, there’s an essential step that shouldn’t be skipped: verifying that your insurance provides the protection you expect if the unexpected happens.

This rewritten blog explores the coverage considerations tied to popular February purchases, from fine jewelry and art to new vehicles, along with simple recordkeeping habits that can make a major difference down the road.

Why Insurance Matters Before You Use or Gift an Item

High‑value items can be lost, damaged, or stolen much sooner than people expect—sometimes minutes after purchase. A ring can slip out of a pocket. A painting can be damaged while transporting it home. A new car can be hit before you’ve even memorized the license plate. That’s why insurance shouldn’t be an afterthought.

February amplifies this need. Engagement rings, watches, collectibles, and vehicles picked up during Presidents’ Day promotions all require thoughtful planning. Ensuring that each item is matched with the right type of coverage will help prevent unwanted surprises if you ever need to file a claim.

Jewelry, Artwork, and Collectibles: Look Beyond Basic Homeowners Policies

Many people assume that a homeowners policy automatically covers their valuables at full value. In reality, most standard policies include category limits—especially for jewelry, art, and collectibles. These limits are often just a few thousand dollars, which may fall far short of the actual value.

That’s where supplemental protection becomes critical. Items such as engagement rings, fine art pieces, or collectibles often need additional coverage to ensure they’re fully protected. A scheduled personal property rider (sometimes called an endorsement) can insure valuables for their full appraised amount and may cover losses that a standard policy excludes, such as accidental damage or mysterious disappearance.

To schedule an item, insurers usually require a recent appraisal. Those values should be updated every couple of years to ensure they're still accurate. Artwork, in particular, may benefit from a specialized policy that includes transit protection, restoration cost coverage, and worldwide protection—especially if pieces are moved, loaned to galleries, or taken on trips.

Here are a few helpful reminders if you’re giving or receiving high‑value items this season:

• Coverage doesn’t transfer automatically when jewelry is gifted or inherited—the new owner must add it to their own policy.
• For especially valuable items, consider standalone “valuable items” or “personal articles” coverage available through many major insurers.
• Store receipts, appraisals, identifying photos, and serial numbers in a safe place. These documents help establish ownership and streamline any future claims.

Whether the gift is sentimental, rare, or both, protecting its financial value is just as important as cherishing its emotional significance.

Buying a New Vehicle: Understanding Grace Periods and Next Steps

Presidents’ Day is a popular time for car shopping, and many insurers provide an automatic grace period for newly purchased vehicles. This window typically ranges from seven to 30 days, though 14 to 30 days is most common. During that time, your new vehicle usually receives the same coverage as an existing car on your policy.

However, there are a few important details to keep in mind:

• A grace period typically applies only if you already have an active auto policy. If you don’t currently carry auto insurance, you’ll need coverage before driving the new car.
• If you insure multiple cars, the new vehicle often receives the broadest existing coverage—but only temporarily.
• Whatever coverage you currently carry is what the new car receives during the grace period. For example, if your existing vehicle only has liability, your new car will not have comprehensive or collision until you update your policy.

Before the grace period expires, be sure to formally add the new car to your policy. Lenders and leasing companies typically require comprehensive and collision coverage, and many also recommend gap insurance to cover the difference between the loan balance and the vehicle’s actual cash value.

If you’re trading in or selling an older vehicle, don’t forget to remove it from your policy so you aren’t paying for unnecessary coverage.

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

• Notify your insurer immediately or shortly after purchase to update your policy.
• Adjust coverage levels and deductibles to reflect the value of your new car.
• Update driver information, garaging address, and expected vehicle use.
• Save copies of your registration, purchase documents, and insurance ID card.

A simple conversation with your agent can ensure your car is protected from day one.

Recordkeeping: A Simple Habit With Big Benefits

No matter what you purchase—jewelry, collectibles, or a new car—organized recordkeeping is one of the most effective ways to support your coverage.

Keep receipts, appraisals, serial numbers, and other documentation in a safe place. These details help confirm value, ownership, and eligibility for coverage. To make this process even easier:

• Maintain digital copies of receipts, photos, appraisals, and VINs in secure cloud storage.
• Take clear photos of new purchases, including distinguishing features.
• Review your home and auto insurance annually and after any substantial purchase.
• Ask your agent about potential discounts or bundling opportunities after updating your policies.

These simple steps create a clean, accessible record that can reduce stress and speed up the claims process.

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

If you purchased something a while ago and haven’t added it to your policy yet, you still have options. Life gets busy, and it’s common for people to postpone insurance updates. An agent can help you evaluate what you’ve bought, determine whether certain items should be scheduled, and bring your coverage up to date so you’re protected moving forward.

Enjoy February—Just Make Sure Your Purchases Are Protected

Valentine’s Day and Presidents’ Day often bring home some of the year’s most memorable purchases, from jewelry that marks a milestone to a new vehicle or a piece of art that caught your eye. Setting aside a few minutes to review your insurance can protect both the sentimental and financial investment behind those items.

If you’re planning a significant purchase this February—or if you have recent items you haven’t insured yet—now is a great time to make sure everything is properly protected. A quick conversation with your agent offers the peace of mind you need to fully enjoy your new jewelry, artwork, or vehicle.