Protecting Your Valentine’s Day and Presidents’ Day Purchases

February may be the shortest month of the year, but it often brings some of the biggest purchases. From sparkling Valentine’s Day gifts to major Presidents’ Day car deals, many people are investing in items that hold both emotional and financial significance. Because these purchases can be meaningful in more ways than one, it’s important to make sure they’re properly protected.

It’s easy to get wrapped up in the exciting part — choosing a piece of jewelry, driving home a new vehicle, or finally bringing home a piece of art you’ve admired for months. But before you start wearing, gifting, hanging, or test-driving your new purchase, there’s an essential step to consider: confirming that your insurance coverage truly fits what you’ve bought.

This updated guide walks through the kinds of coverage to think about for popular February purchases, including jewelry, fine art, collectibles, and new vehicles. You’ll also find some helpful recordkeeping habits that can make life much easier if you ever have to file a claim.

Why Confirming Coverage Early Makes a Difference

For high-value items, postponing insurance can create unnecessary risk. Jewelry can be misplaced during a proposal, a watch can be damaged while traveling, and even new art can be stolen or harmed before it’s displayed. The safest approach is to put coverage in place before gifting or using the item.

This is especially relevant in February. Whether you’re planning a Valentine’s Day surprise, purchasing a collectible watch, taking advantage of a Presidents’ Day car offer, or adding a new piece of artwork to your home, each purchase may require its own type of insurance review. The goal is simple: match your coverage to the item’s value and level of risk so you’re not left with unexpected gaps down the road.

Jewelry, Fine Art, and Collectibles: What Standard Homeowners Insurance May Not Cover

Many people assume their homeowners insurance automatically provides full protection for expensive belongings. But most policies include category-specific limits — especially for jewelry, fine art, and collectible items. These caps often range from $1,000 to $5,000, which may not come close to covering the actual value of a piece.

That’s why additional protection is often necessary. High-value items like artwork, luxury jewelry, or collectibles may need separate coverage beyond the basic homeowners policy. One common solution is a scheduled personal property endorsement, which lists each item individually and insures it at its appraised value. This type of coverage often includes protections not found in a standard policy, such as accidental loss or mysterious disappearance.

Most insurers require an up-to-date appraisal to schedule an item, and those values should be refreshed every few years. Fine art may require even more specialized coverage, including protection while the piece is being transported, restored, or displayed elsewhere.

Here are a few helpful reminders for jewelry and other valuable gifts:

• When jewelry is gifted or inherited, the insurance typically does not transfer. The new owner must insure it under their own policy.
• For expensive items, explore dedicated “valuable items” or “personal articles” policies, often offered by major carriers.
• Keep all receipts, appraisals, photos, and identifying details. These documents support both establishing coverage and filing claims.

The sentimental worth of a special gift can’t be replaced, but its financial value can be safeguarded with the right insurance.

New Vehicle Purchases: How Grace Periods Work

Presidents’ Day car sales attract many buyers, and one piece of good news is that insurers often extend automatic coverage to a newly purchased vehicle — but only for a short time. This grace period usually lasts between seven and 30 days, with many insurers offering two to four weeks of temporary protection. During that time, the new car typically carries the same coverage as another insured vehicle on your policy.

There are a few important points to keep in mind:

• The grace period generally applies only if you already have an active auto policy covering at least one vehicle. Without existing coverage, you’ll need a policy before driving your new car.
• If you insure multiple vehicles, the new one usually receives the broadest coverage you already carry, but only for the duration of the grace period.
• Your temporary coverage mirrors your current plan. For example, if your existing car only has liability coverage, the new car will also only have liability until you make changes.

Before that grace window closes, make sure your new vehicle is formally added to your policy. Lenders and leasing companies will almost always require collision and comprehensive coverage, and many recommend or mandate gap insurance to protect against owing more than the vehicle’s current value.

If you’re trading in or selling your old vehicle, don’t forget to remove it from your policy once the transaction is complete — otherwise, you may be paying for unnecessary coverage.

Whenever you buy a new vehicle, remember to:

• Contact your insurer as soon as possible to update your policy.
• Review coverage limits, deductibles, and any optional protections you may need.
• Update information related to drivers, usage, and your parking or garaging address.
• Keep key documents — such as your bill of sale and registration — easily accessible.

Taking a few minutes to review your policy can ensure your new ride is protected from the moment you drive it home.

Recordkeeping Tips for Any High-Value Purchase

No matter what you’re buying — jewelry, art, collectibles, or a new vehicle — good documentation is one of the best tools you have for protecting your investment.

Keep receipts, appraisals, and serial numbers organized. These records are often required both to put insurance in place and to verify ownership if a claim becomes necessary. To take this a step further:

• Store digital copies of photos, receipts, appraisals, and VINs in secure cloud storage.
• Photograph new items thoroughly, including identifying marks or details.
• Review your home and auto policies annually or after major purchases.
• Ask your insurance agent whether new purchases make you eligible for bundling or multi-policy discounts.

These habits create a clear record that can help your insurer act quickly and fairly when you need support.

If You Haven’t Updated Coverage Yet, Don’t Worry

If you made a purchase recently — or even months ago — and never followed up on the insurance, you’re not alone. Life gets busy, and it’s easy to postpone the administrative side of things.

The good news is that it’s not too late. An insurance professional can review your existing policies, look over your new items, and help you decide whether scheduling or additional coverage is needed. They can also adjust your protections to better match your lifestyle going forward.

Final Thoughts: Enjoy the Season and Protect Your Purchases

Whether you’re celebrating Valentine’s Day, taking advantage of Presidents’ Day sales, or simply treating yourself, February often brings memorable new additions to your life. Spending a little time reviewing your insurance ensures that those purchases — whether they’re romantic, practical, or collectible — are protected long after the excitement fades.

If you’re adding something special to your life this month or want help organizing coverage for recent purchases, I’m here to support you. A quick conversation can bring peace of mind so you can enjoy your new jewelry, artwork, or vehicle knowing it’s protected.