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

February may be one of the shortest months of the year, but it has a reputation for being surprisingly pricey. With Valentine’s Day gifts, meaningful surprises, and major Presidents’ Day sales—especially on vehicles—many people make some of their most significant purchases during this time. These items often carry both emotional and financial weight, which is why making sure they're properly insured is so important.

It’s easy to get wrapped up in the exciting parts of the purchase: choosing a beautiful piece of jewelry, scoring a great deal on a new car, or finally bringing home a piece of artwork you’ve admired for months. Still, before you gift it, wear it, or drive it off the lot, there’s one essential step you don’t want to skip: confirming that your insurance truly protects you if the unexpected happens.

This article outlines the coverage considerations you should keep in mind for Valentine’s Day and Presidents’ Day purchases—whether you’re investing in jewelry, fine art, or a brand‑new set of wheels—and offers recordkeeping tips that can save you stress if you ever need to file a claim.

Why It’s Important to Review Coverage Before Gift‑Giving or Using a New Item

When you purchase something valuable, waiting too long to sort out the insurance can come back to bite you. Items can be damaged, misplaced, or stolen even before you’ve had the chance to enjoy them. Sometimes losses occur on the ride home, during a trip, or even as the gift is being exchanged. Because of that, it’s often best to have coverage in place before you hand the item over or begin using it yourself.

This is especially relevant in February. Whether you're preparing for a proposal with a carefully chosen ring, picking up a luxury watch, taking advantage of a Presidents’ Day car deal, or adding a new art piece to your home, each purchase comes with unique risks. The goal is simple: ensure your insurance aligns with the value of the item so you’re not caught off guard by gaps in your policy when you need coverage the most.

Jewelry, Art, and Collectibles: What Your Homeowners Policy May Not Cover

Many people assume their homeowners insurance fully covers valuable items, but standard policies often include strict limits—especially for categories like jewelry, fine art, and collectibles. Claims for these items may be capped at just a few thousand dollars, which falls far short of what many pieces are worth.

That’s why additional protection may be necessary. High‑value items often require scheduled personal property coverage, also known as an endorsement or rider. This add‑on allows your insurer to cover the full appraised value of specific items and may also protect against risks that aren’t included in a basic policy, such as accidental damage or mysterious disappearance.

To schedule an item, you’ll typically need an up‑to‑date appraisal, and those values should be refreshed every few years. Fine art may also benefit from a specialized policy that includes worldwide protection, transit coverage, and restoration support—especially helpful for items you travel with, loan to galleries, or move between homes.

Keep these reminders in mind when purchasing or gifting high‑value items:

• Coverage does not automatically transfer when jewelry or valuables are gifted or inherited. The new owner must add the item to their own policy.
• For items with significant value, look into dedicated “valuable items” or “personal articles” policies. Many major carriers—such as State Farm, Travelers, and Liberty Mutual—offer these options.
• Keep organized records including receipts, appraisals, photographs, and serial numbers. These documents are crucial not only for obtaining coverage but also for establishing value if you ever file a claim.

Jewelry and collectibles may hold deep emotional significance, but their financial value can—and should—be protected with the right insurance strategy.

New Car Purchases: Understanding Grace Periods and What Comes Next

Presidents’ Day is well known for offering attractive deals on cars, SUVs, and trucks. Fortunately, many insurers provide automatic temporary coverage for new vehicle purchases. This “grace period” often lasts anywhere from seven to 30 days, with most carriers offering 14–30 days of protection. During this time, the new car typically adopts the same coverage and limits as another vehicle already on your policy.

Here are a few important details to keep in mind:

• If you don’t already have an active auto policy, the grace period usually does not apply. You’ll need coverage in place before driving the new vehicle.
• If multiple vehicles are insured, the new car often receives the broadest existing coverage during the grace period.
• Temporary protection mirrors your current coverage. For example, if your existing car only carries liability insurance, your new one will as well until you update the policy.

Before the grace period ends, make sure your new vehicle is officially added to your policy and that your coverage reflects its value. If you’re financing or leasing, the lender will almost always require collision and comprehensive coverage—and may strongly recommend gap insurance to cover the difference between the loan amount and the car’s actual cash value.

And if you’re trading in or selling an older car, remember to remove it from your policy so you aren’t paying for unnecessary coverage.

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

• Notify your insurer before driving off the lot or as soon as possible afterward.
• Adjust coverage limits and deductibles to match the value of the new car and your financial comfort level.
• Update details like drivers, usage, and garaging location.
• Keep documentation—such as your insurance card, bill of sale, and vehicle registration—organized and accessible.

Recordkeeping Tips for All High‑Value Purchases

Whether you're buying jewelry, artwork, collectibles, or a new car, keeping detailed and organized records is one of the most effective ways to protect yourself.

Your insurer will rely on these documents to verify ownership and value, making claims easier and faster. To streamline this process:

• Store digital copies of receipts, appraisals, photos, and VINs in secure cloud storage.
• Take clear photos of new purchases, including close‑ups of identifying details.
• Review your home and auto insurance annually or after any major purchase to confirm coverage levels remain appropriate.
• Ask your agent whether adding new valuables or vehicles may qualify you for additional bundling savings.

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

If you purchased something weeks—or even months—ago and never got around to adjusting your insurance, you’re far from alone. With busy schedules and the excitement of enjoying something new, it’s easy to put off policy updates.

Fortunately, it’s never too late to get help. Your agent can walk you through what needs to be insured, help determine whether certain items should be scheduled, and make sure your coverage aligns with your current lifestyle and belongings moving forward.

Final Thoughts: Enjoy the Month, and Protect the Things That Matter

February often brings meaningful purchases—from sparkling Valentine’s Day jewelry to new vehicles or rare art pieces. By taking a little time to confirm the right insurance coverage, you protect both your investment and your peace of mind.

If you’re planning a big purchase this month—or if you have recent buys you haven’t insured yet—I’m here to help you make sure everything is properly covered. With just a quick conversation, you can feel confident knowing your newest treasures are protected from day one.